Property Description
The Royal Oak is a well-known & loved community pub in Bognor Regis.
What would you do with this pub to make it even more of a success?
The Area:
The Royal Oak is in the town of North Bersted, within Bognor Regis, about a mile from the sea front. The pub is surrounded by roads.
Demographics:
The pub benefits from being one of two pubs found in an area of around 5,379 adults. The customer base is made up of mostly mid-life to older customers of medium affluence.
The Offer:
Available on our foundation tenancy agreement. Click here for more information on this agreement. The potential of this pub lies in maintaining it’s strong wet let trade, and community spirit. There is scope to develop the food offer.
The site is well connected to local dart and rugby teams and involved in charity events for the community.
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 pub will have extensive experience in a community led pub business. They will have a clear vision for their food & drinks menu and be actively involved in community events, creating a memorable experience for their customers, and community as a whole.
Main trading area with bar
40 internal covers
Small catering kitchen
HEINEKEN SmartDispense
Small courtyard garden with four benches
Car park with 30 spaces
Private accommodation consists of two bedrooms and a lounge.
Premises license available on request.
Agreement Type
Foundation Tenancy
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
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.
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
MISREPRESENTATION ACT 1967
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.
The information and images displayed about the properties advertised comprise a property advertisement only. My Hospitality Solutions Ltd is not liable for the accuracy or completeness of the advertisement or any linked or associated information and My Hospitality Solutions Limited has no control over the content.
