George II

70 Bute Street, Luton, Bedfordshire, LU1 2EY

WET LED TOWN CENTRE PUB

George II located in the heart of Luton is a lively, well established business offering an exciting opportunity for the right operator. The pub is heavily focused on live sport and entertainment and is currently trading at 95% wet sales. The pub internally is well presented and offers pool and darts. As with all similar types of pubs, the environment can be lively especially at weekends so a strong level of experience and control will be needed to ensure success.

Location

Luton is a town in the ceremonial county of Bedfordshire. Luton was for many years famous for hat making, and also had a large Vauxhall Motors factory.London Luton Airport opened in 1938, and is now one of Britain's major airports, with three railway stations also in the town. The University of Bedfordshire was created from a merger with the University of Luton, and two of its campuses are in Luton. George II is located opposite Luton central railway station and is around 1 mile from Kenilworth Road, home of Luton Town FC.

Business Information

Annual rent

£49,500

Weekly rent

£952

Entry costs

£50,275

Turnover royalty

n/a

Forecasted Operator Turnover

£471,987

Forecasted Operator Profit (inc machine profit)

£49,383

Forecasted Operator Machine Profit

£5,000

Average Beer & Cider Discount*

£72

Type of Tie

Full tie: Access to Discounted Wines, Spirits & Minerals Price List

Agreement

Standard Tenancy Agreement A fixed 5 year term. Machine income retained 100% by licensee

Entry cost is approximately £50,275 which includes Fixtures & Fittings at 25% of estimated valuation, stock, glassware, cutlery, crockery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit. Please note Fixtures and Fittings are estimated at approximately £50,275. An assisted purchase of F&F may be available with a 25% deposit on change day and weekly re payments to purchase the remaining 75% over an agreed period.

Deposit

£12,375

Fixtures & Fittings

£25,000

Legal Admin Fee

£850

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£50,275

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. All figures represent products bought from Greene King only. **Please note trading volumes for year 2020 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2021 149 15 2,754
2020 131 172 2,142
2019 290 83 4,872

This is a single bar pub with large trading space. Externally there is a small courtyard to the rear and tables to the front of the pub which have a pavement licence.

Trade Bars

1

Trade Dining Areas

0

Trade Kitchens

1

Trade Food Covers

36

Trade Gardens

0

Trade Patio Areas

1

Trade Rooms to Let

0

Meeting Rooms

0

External Child Play Areas

0

Function Rooms

0

Customer Car Park Spaces

0

Current Premises Licence Opening Hours

Mon-Thu: 07:00-01:30
Fri-Sat: 07:00-02:00
Sun: 07:00-23:30

The accommodation is large and flexible.

Private Rooms

15

Lounge

1

Dining Rooms

0

Double Bedrooms

4

Single Bedrooms

4

Bathrooms

2

Toilets

2

Private Kitchens

1

Offices

1

Bedsits

0

BDM Portrait

I am searching for an experienced town centre, wet led operator who has the skills to control a lively environment. The pub is a popular stop off on the local drinking circuit and offers late night refreshment. If you feel like this could be the right opportunity for you, then please contact the recruitment team for further information.

Phil Venables, Business Development Manager

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