Property Description
Affluent market town
Well located in the market town of Towcester, The Monk & Tipster is perfectly placed to allow the venue to serve a large number of locals. The local area is populated with 3,000 people within a 10-minute drive away that consists of high affluence demographics. There is a small number of competitors in the immediate area, giving the pub great potential once refurbished to be the go-to destination for locals and visitors to the area. The site is close to Towcester Racetrack.
The Monk & Tipster is available on our investment tenancy agreement. Click here for more information on this agreement.
The pub already has some fantastic natural finishes including timber floors, wooden beams and real fireplaces. The new refurbishment will enhance these features and add to them, helping the venue appeal to a broader range of customers. Whether it's locals looking to relax in the bar, visitors enjoying a day-out needing a place to stay, or couples wanting to share a delicious meal, The Monk & Tipster will offer something for every type of customer. This is a fantastic opportunity for the right person to unlock this pub’s potential. So, could that be you?
Offer
When refurbished, the Monk & Tipster will offer:
A great mix of draught lagers and ciders, cask ales, a premium wine selection, a good range of spirits and a small range of cocktails
An upmarket, home-cooked food menu
A great coffee offer, to increase daytime trade
Target Customers
The Monk & Tipster will appeal to:
A wide range of consumers and will attract the local community looking for a great space to enjoy drinks or some traditional pub food with a warm, welcoming atmosphere.
Everyone from the surrounding community and due to its curb side appeal, should also be able to feed off the daily passing trade.
If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring.
The right operator for the Monk & Tipster will be comfortable both behind the bar and in the Kitchen and have a great entrepreneurial spirit. They will have a clear vision for their food & drinks menu, marketing strategy and entertainment offer and can create a memorable experience for their customers.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pubs next chapter…
The Monk & Tipster will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
Main trading area with bar
Separate dining room
40 internal covers
Catering kitchen
SmartDispense
9 letting rooms.
Patioed outside trading area
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).
The private accommodation at Monk & Tipster consists of two bedrooms, a lounge, kitchen and a Bathroom.
Premises License is available on request
Agreement Type
Investment Tenancy
Property Facilities
Kitchen
Letting Rooms
Outdoor Trade
Private Accommodation
Refurbishment Planned
Property Financials
Additional Information
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.
Note that on FRI Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased.
A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors.
The above figures are provided as a guide only and will be finalised as part of the commercial agreement
* All figures quoted are exclusive of VAT
** Deposit build up will be payable over a maximum of 24 months
*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry
**** Maintenance Compliance Charge relates to the fees for various statutory inspections
***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate
The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
All figures quoted are exclusive of VAT
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
* The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
** All figures quoted are exclusive of VAT
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My Hospitality Solutions Ltd advises that the contents of these particulars are believed to be correct and Lessees should satisfy themselves that they are accurate.
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