Investment Opportunity

Old England

Front Street, Great Lumley, Chester-Le-Street, Durham, DH3 4JB

Gallery

(Click to enlarge)

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Pub overview

Traditional, community pub called the Old England, this pub really lives up to its name as it is a traditional British pub and an important community asset. Ten years ago there were five pubs in Great Lumley, Chester-le-Street, now only the Old England remains.

The Old England has a bright restaurant area which is ideal for someone who would like to develop the food menu.

This means that the pub needs an operator who is passionate about providing the local community with a great pub, and can develop it into a community hub that caters for a variety of customers.

Currently it has a strong sports-led offer with 80 food covers. However, with two bars there is considerable scope to provide locals with a traditional community pub, extending the food offer and creating a family-friendly restaurant and lounge, whilst continuing to screen live sports and other entertainment.There is also a grassed area to the front of the pub where external drinking / dining can take place.

Trade space
Bars 2
Car park spaces 30
Dining rooms 1
Food covers 80
Gardens 1
Trade kitchens 1
Patio areas 1

The private accommodation consists of 3 bedrooms, a lounge, kitchen and bathroom.

Private space
Private Rooms 8
Lounge 1
Single Bedrooms 1
Double bedrooms 2
Private Kitchen 1
Bathrooms 1
Toilets 1
Office 1

Rent information

Annual rent £28,650 per annum
Weekly rent £550.96 per week fixed
Notes

£28,650.00 per annum, £550.96 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit. Machine income free of tie.

Entry costs approx £18,800.00 which includes fixtures and fittings, stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit (25% of head rent, minimum £6,000). *Fixtures & Fittings still to be valued.*

Brokers £675 Legal £825
Deposit £6,000 Stocktaking fees £150
Fixtures & fittings £0 Working capital £2,000
Other costs £9,150 Total entry cost £18,800

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

Year Beer (Brls) Wine & spirits (Ltrs) Minerals (Ltrs)
2016/17 335 9 957
2015/16 384 1 1,229
2014/15 275
Volume notes

Location

Great Lumley is a village in County Durham. It is situated south east of Chester-le-Street, near Lumley Castle.

Facilities

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

Current premises licence opening hours

Contact Us

Andy Wearn

Business Development Manager

Call us today 01284 714 497

Apply online
“ If you want to be part of the local community then this is the pub for you. Right in the middle of Great Lumley, just outside Durham, this is the only pub in the village with over 1000 rooftops! ”