tenancy
66 Corve Street, Ludlow, Shropshire SY8 1DU, UK
Approx. Total Ingoings
£12,500Annual Rent
£22,000The Unicorn is situated just outside the town centre of the market town of Ludlow, the pub has bags of character with open fires and beams, it is split into three trading areas. The main bar has seating for 24 guests with a large open fire and bags of character as you would expect from a period building, there are two other rooms off the main bar; a snug dining area next to the kitchen seating a further 20 and off that another dining room seating a further 24 guests. This space then opens up onto a small patio garden overlooking the charming river. Stonegate Pub Partners are now seeking a publican experienced with food who can continue and develop the home cooked food offer to establish this pub as the go-to destination food pub.
Private Accommodation: The private accommodation is a flat comprising of three bedrooms, living room, bathroom and a domestic kitchen is available. All rooms are in excellent decorative order and have been well maintained.
Indoor trading area
The Slate Bar at the Unicorn offers good quality, locally sourced food. The restaurant is an atmospheric, timber beamed room which can cater for 40 covers between two distinct trading areas. Beside the kitchen is a cosy and intimate dining area for around 16 covers and up just a few steps are a further 24 covers which overlook the courtyard garden. The furniture is eclectic and well suited for the style of operation. The Oak Room is a versatile and attractive area, less formal than the Slate Bar, with loose seating and facilities for private functions and live music. With room for around 26 covers and full of original features and traditional charm, this is a great place to sit with a pint of ale or glass of wine, chatting with friends before the open fire. The interior of the pub is superbly decorated and well maintained throughout and in-keeping with the general feel of Ludlow. The entire operation is supported by a fully equipped catering kitchen, which is ideal for delivering an offer centred on freshly prepared, local produce.
Outdoor trading area
The Unicorn is an attractive, half-timbered coaching inn on Corve Street. To the rear of the pub, the Unicorn boasts a beautiful riverside terrace and beer garden. Situated on the banks of the river Corve, this area is very popular and in the warmer months attracts customers looking to drink and dine in stunning outdoor surroundings. There is also a heated, covered smoking area and the current publican has invested a lot of time and effort making this a great English country garden.
Regional Manager Comments
The Unicorn is a quality establishment, specialising in great food and drink. The beer is dominated by well-kept cask ales and all food is locally sourced and prepared fresh on site. The pub has a traditional feel and attracts a wealth of loyal, local custom; however, the Unicorn is well-known and has the potential to become a destination food-led business and really tap into Ludlow’s foodie reputation.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Cask Ale Function Room Restaurant/Food
Approx. Total Ingoings
£12,500
Annual Rent
£22,000
Potential Turnover: £308,000 per annum
This is an estimate of the potential annual turnover of the pub business. It does not include the financial benefits of any living accommodation, which you will need to consider.
Guide Rent: £24,000 per annum, payable weekly in advance.
The Proposed Agreement: Retail Partnership Tenancy
The Landlord is prepared to discuss other Partnership agreements.
They will also discuss your purchasing options (Wines, spirits, cask, minerals and flavoured alcoholic beverages) which you can choose all, a combination or none. Tie release fees will apply.
Estimated Capital Start-up: £14,500 (excl VAT)
Often referred to as ingoings. Includes stock & glassware at valuation, deposit, refundable at the end of your agreement dependent upon your account being in good order. Up to 2 weeks rent and other contractual charges will be payable in advance. Please note, the actual deposit payable will be 25% of the final agreed rent.
In addition you will need to provide funds for professional advice and a level of working capital - the amount will be dependent on your business plan.
Estimated Fixtures and Fittings Value: £18,000 (excl VAT)
To be discussed with the Regional Manager.
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.
Originally formed in 2010 with 333 pubs, Stonegate Group is now the largest pub company in the UK following 12 major acquisitions. Our vast portfolio is now home to over 4,500 sites which range from Leased & Tenanted to Managed. We strongly believe that the pub is at the heart of British culture and we strive to deliver a fantastic customer experience.
