Investment Opportunity | Low Entry Costs

French Horn

Market Place, Nottingham Road, Codnor, Ripley, Derbyshire, DE5 9SY

Gallery

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Pub overview

A great community Pub, offering bags of potential – WITH RENT STEPS & APRROVED £30,000 INVESTMENT

The French Horn is neatly presented and has a good reputation locally. The pub is popular with families, diners and drinkers alike and as it is located on the busy Nottingham Road, can draw in passing trade too. The Pub is well used by local teams, has live sport and regular entertainment. Internally, there are two main areas to suit the customers needs, as well as a sheltered patio area to the front. Externally, there is a large garden which can offer an additional twenty five dining covers in the summer months and a large car park. To the rear, there are five hard standing caravan pitches with an external toilet area, running water, electric hook up and chemical disposal point, these pitches offer an excellent additional revenue stream for the Pub. The approved £30,000 investment will provide a sparkle and re invigorate the site
Rent Steps:
Months 1-3 - £10,400
Months 4-6 - £15,600
Months 7-12 - £22,500

The trading area was refurbished in 2016 to a modern standard. As you enter the Pub, there are two distinct trading areas with half dedicated to dining and the other to drinking. Within the bar area, there is a pool table, sky sports and regular entertainment. Both areas are served by a single central bar. The dining area has approximately thirty covers and another twenty five outside, which can be utilised over the summer months. Externally there is a car park with thirty spaces and to the rear there are five hard standing caravan pitches

Trade space
Bars 1
Car park spaces 30
Dining rooms 1
Food covers30
Gardens 1
Trade kitchens 1
Patio areas 1

The private accommodation is above standard and in a really good condition overall benefitting from eight private rooms including two double bedrooms, a lounge and a kitchen.

Private space
Private Rooms8
Lounge1
Double bedrooms3
Private Kitchen1
Bathrooms1
Toilets1

Rent information

Annual rent£22,500 per annum
Weekly rent£432.69 per week fixed
Notes

£22,500 per annum, £432.69 per week fixed and subject to annual RPI increase (tracker capped at a maximum of 4.75%) on anniversary of agreement. Paid weekly by direct debit.

Rent steps -
Months 1-3 - £10,400
Months 4-6 - £15,600
Months 7-12 -£22,500

Approx £13,650 which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, rent in advance, training fees, working capital and deposit (minimum £6,000, but should build to 25% of head rent). Please note the fixtures and fittings are still to be valued.

Brokers£675Legal£825
Deposit£6,000Stocktaking fees£150
Fixtures & fittings£0Working capital£3,000
Other costs£3,000Total entry cost£13,650

Agreement description

Standard Tenancy Agreement
A fixed 5 year term agreement which is contracted out of the Landlord and Tenant Act 1954
•Tie variations available
•Rent set at the start of the agreement, subject to the annual Retail Prices Index (RPI) which is capped
•Flexible pricing options available
•Greene King is responsible for the structure of the building
•Ability to end agreement with 6 months notice at any time with standard notice fee equal to 3 months rent

You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations.

Calculators to help you are available on the business planning section of our website.

Trading volumes

YearBeer (Brls)Wine & spirits (Ltrs)Minerals (Ltrs)
2017/183061,1094,339
2016/172588183,635
2015/162406803,472
Volume notes

Location

Codnor is a Village in the Amber Valley district of Derbyshire. Codnor is approximately 12 miles North East of Derby and approximately 14 miles North West of Nottingham. The Pub is within the popular Market Place area. The closest Towns are Ripley, Eastwood and Heanor. There are approximately 3000 households within a one mile radius.

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Facilities

Trade bar
Car park
Dining area
Pub garden
Trade kitchen
Trade patio

Current premises licence opening hours

Sunday to Thursday 05:00 - 00:30 Friday to Saturday 05:00 - 01:30

Contact Us

Andy Wearn

Business Development Manager

Call the Recruitment team on 01284 714 497

Apply online
“ The French Horn is in need of an operator with close ties to the local community to take the existing offer and expand upon it. This spacious Pub is well equipped to suit both drinkers and diners and has a good reputation locally for its Sunday Carvery. If you are community focused and have the enthusiasm and determination to help this site reach its full potential, then talk to us! ”