Property Description
Following a full refurbishment inside and out, The Pickburn Arms will be transformed into fantastic pub with great food. Major investment will create a fabulous destination country pub that will also cater to the local population. There will be multiple zoned areas which will all undergo refurbishment, the bar will be remodelled and the kitchen will be improved to cater for the large number of covers (144 internally).
In addition a fantastic external area will be created, adding another 90 covers for alfresco eating/drinking.
Excellent location
The pub benefits from several new housing developments in the local area. There are also a further 53,000 adults within a 10-minute drive, and almost 350,000 live in a 20-minute drive. A number of local tourist attractions provide a boost to passing trade.
Huge potential
The transformed Pickburn Arms will feature a large car park, fantastic beer terraces and a great atmosphere, which will be matched by a quality food and drinks offer. The pub will attract a lot of the local wet trade, given that it is just a short walk from nearby housing developments, and it will also be a go-to destination for food. We would like to see you bring your own ideas and flair to make the most of this great opportunity.
Target Customers
The stunning new look at The Plough will attract a broad demographic.
• All customer groups, with various zones created throughout.
• Tourists, local retirees and stay-at-home parents during the daytime, with larger groups, families and couples the target on evenings and weekends.
Offer
The Plough has the potential to be THE destination bar in Hereford.
• Great draught lagers, beers and ciders
• Soft drinks, a good selection of wines and spirits and an extensive selection of No and Low given its drive to location
• Classic pub food menu, including a great carvery
• Coffees
• Occasional events during summer
The right operator for the Pickburn will have extensive experience in a destination food outlet hospitality business. 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.
The Pickburn will benefit from a full refurbishment with works being done both internally and externally. For a full summary of planned works, please review the 'Refurbishment Details' in the downloads section.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
The private accommodation at The Pickburn Arms consists of three bedrooms, lounge, kitchen and bathroom.
Premises licence available on request
Agreement Type
Investment Tenancy
Property Facilities
Kitchen
Function Room
Parking
Cask Ale
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
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.
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