Green Man

53 Southgate Street, Winchester, Hampshire, SO23 9EH

A BUSINESS WITH GREAT POTENTIAL

The Green Man in Winchester is a wet led pub offering great potential to build upon the current offer and make the pub a little more food driven. The site sits in a great location opposite a cinema and also benefits from its own function room. The side is currently trading at an 80/20 sales split in favour of drink, however with investment in F&F by the tenant to equip the kitchen, we would expect to see this become a 60/40 split. The pub is attractive to the upper middle market and should cater for those looking for casual dining, to drink and socialise, watch sport on TV and to see great entertainment. The function room can be used for quality, smaller scale events.

Location

Winchester is a city in the county of Hampshire, on the edge of the South Downs National Park. It’s known for medieval Winchester Cathedral, with its 17th-century Morley Library, the Winchester Bible and a Norman crypt. Nearby are the ruins of Wolvesey Castle and the Winchester City Mill, a working 18th-century corn mill. The Green Man is located just south of the town centre, opposite a cinema in a condensed residential area.

Business Information

Annual rent

£35,000

Weekly rent

£673

Entry costs

£66,625

Turnover royalty

n/a

Forecasted Operator Turnover

£432,184

Forecasted Operator Profit (inc machine profit)

£33,039

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

Type of Tie

Partial tie: Tied All Beer & All Cider

Agreement

Standard Tenancy Agreement A fixed 5 year term

Entry costs approximately £66,625.00, which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit which is 25% of head rent. Fixtures and Fittings are valued at approximately £25,000 and the final valuation will be confirmed on change day. 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

£8,750

Fixtures & Fittings

£25,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£30,000

Other Costs

£1,150

Total Entry Costs

£66,625

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)
2020 39 155 1,247
2019 20 0 830
2018 77 5 1,345

The main trade area wraps around a central bar with a corridor from the main trade area leading to a reception area and separate function room (with own bar and toilets). The first floor contains a private dining area or additional function/dining space. The trade room in the basement/cellar could be used for a Speakeasy or similar concept

Trade Bars

2

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

136

Trade Gardens

0

Trade Patio Areas

0

Trade Rooms to Let

0

Meeting Rooms

0

External Child Play Areas

0

Function Rooms

2

Customer Car Park Spaces

0

Current Premises Licence Opening Hours

Mon-Thu: 10:00-00:20
Fri-Sat: 10:00-01:00
Sun: 10:00-23:50

The accommodation is in good condition and comprises three bedrooms, kitchen/dining/lounge in one room, bathroom and toilet

Private Rooms

6

Lounge

0

Dining Rooms

0

Double Bedrooms

2

Single Bedrooms

1

Bathrooms

1

Toilets

1

Private Kitchens

1

Offices

0

Bedsits

0

BDM Portrait

I am seeking an experienced operator ideally who has an energy and focus to refresh this wet led pub and give it a new lease of life. Although experience is preferred, I would consider anyone who can demonstrate the right attitude and transferable skills. This is a great opportunity, please contact the recruitment team for further information

Rob Ayling, Business Development Manager

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