London Road, Berkhamsted, Hertfordshire, HP4 2NB
Location, location, location. Pubs like this don’t come onto the market very often!
The Old Mill is in a perfect setting, next to the Grand Union Canal and close to an affluent residential area. The building is sympathetic to its Georgian/Victorian heritage and has built a reputation for serving great food as well as a great pint. The menu is a modern take on classical British food and caters from breakfast through lunch and into the evening with legendary Sunday roasts providing a reason for customers to visit at weekends. There are 130 inside covers, so this is a large operation and you should ensure that food is a large part of your business plans.
The current tenant has built a reputation for excellent, up-scale events that bring customers back to the business. There’s a private dining space inside and externally, the grounds are well maintained with plenty of additional covers and a large car park. The old mill-race comes right into the courtyard garden and the sound of water running over the weir makes a tranquil backdrop for a lazy summer’s drink.
We are looking for an experienced operator to run this business, you would need to know how to take advantage of this pub’s superb location and ensure that there’s always something happening to interest locals and attract guests travelling from further afield.
The trading space is in excellent condition – every inch of space has been dedicated to making the most of the retail opportunity. Outside areas are equally well maintained and take full advantage of the pub’s unique location.
|Car park spaces||34|
The private accommodation with this pub is very large although it could do with some updating.
|Annual rent||£90,000 per annum|
|Weekly rent||£1,730.77 per week fixed|
£90,000 per annum, £1,730.77 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit.
Entry costs approx £47,650 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). *Please note, Fixtures and Fittings are currently advertised as 50%, full cost is approximately £50,000* ALTERNATIVE DEAL AVAILABLE Turnover tenancy 5% Turnover Royalty Rent £60,000. Forecasted Operator Turnover £993,803.00. Forecasted Operator Profit £93,173.00 Average Beer and Cider Discount - Turnover Agreement Discount
|Fixtures & fittings||£25,000||Working capital||£10,000|
|Other costs||£5,000||Total entry cost||£47,650|
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.
|Year||Beer (Brls)||Wine & spirits (Ltrs)||Minerals (Ltrs)|
This pub sits on the A4251 London Road in a superb canal-side setting. Opposite is a large housing area and the centre of town is only a stone’s throw away. Over 40% of local property is owned or mortgaged but there is also a high proportion of privately rented dwellings too. Residents are mostly from AB and C1 socio-economic groups – working in higher administrative, managerial and supervisory roles. Age ranges are around the median for the UK as a whole and 50% of residents are educated to degree or professional level. The area is considered to be ‘entrepreneurial’ with higher than average levels of self-employed residents. Nearby Hemel Hempstead has a commuter station that provide fast access into London too.