23 Wragby Road, Lincoln, Lincolnshire, LN2 5SH
Excellent opportunity to take over a well-established business, which has been operated by the same licensee for the last 25 years. The site already offers a strong trade but comes with the exciting opportunity for joint investment, which will revitalise the site and provide further potential for business growth!
Sitting right in the heart of the historic city of Lincoln, The Peacock can attract a wide range of clientele. There is currently a diverse food offer covering families, the mature market and a great student based deal menu. A range of cask ales available on a rotational basis and a selection of fine wines make the Peacock the perfect place for drinks. There is also a strong following for sports coverage and even the offering to partake in some more traditional pub games, ranging from dominoes to cribbage.
An open plan, free flowing trade area that splits itself perfectly, with clear delineated areas for drinking and dining and an attractive external drinking area.
|Car park spaces||20|
|Child play areas||1|
The private accommodation is extensive and in good condition.
|Annual rent||£41,500 per annum|
|Weekly rent||£798.08 per week fixed|
£41,500 per annum, £798.08 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.
Approx £28,175 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). **Fixtures and fittings are yet to be valued**
|Fixtures & fittings||£0||Working capital||£10,000|
|Other costs||£6,150||Total entry cost||£28,175|
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)|
The Peacock benefits from a prominent position at the hub of the city of Lincoln, close to the historic Cathedral area.
Lincoln is a cathedral city and county town of Lincolnshire. The non-metropolitan district of Lincoln has a 2012 population of 94,600. The 2011 census gave the entire urban area of Lincoln (which includes North Hykeham and Waddington) a population of 130,200. The city is also home to the University of Lincoln and Bishop Grosseteste University, contributing a strong student population to potential business.