Greyhound

28 Eastgate Street, Bury St Edmunds, Suffolk, IP33 1YQ

INVESTMENT PLANNED FOR 2021

The Greyhound is a lovely 16th century pub, on the busy and bustling Eastgate Street. This site has predominantly been a wet led site in the past, catering for live sport and themed evening events. We are planning a substantial refurbishment in 2021 to bring this lovely pub back to life. The proposals include the formation of a new external covered garden room to the courtyard area at the rear that will have a flagstone floor finish, rustic eclectic mix of furniture and a botanical influence. The area will link into the existing vaulted barn to the side which will provide additional covers and a television. The barn area being left in its natural state and enhanced with lighting and bric a brac. The theme will continue throughout the main trade areas with a new bar servery counter featuring industrial elements, exposed brick walls and new rustic timber flooring. Statement pieces of eclectic furniture, bric a brac and lighting will enhance the customer's experience. The large rear garden area will benefit from new individual bespoke rustic garden pods for private groups that will be illuminated and heated for comfort along with festoon lighting over to create ambiance and atmosphere. There will be a new accessible entrance ramp and steps linking the extensive garden to the newly covered garden room. The pub will offer a real eclectic mix of charm that is waiting for the right person with vision to make this site a quality local establishment.

Location

Bury St Edmunds is an historic Town, in west of Suffolk. Known locally as 'Bury' the Town is famous for its beautiful Abbey Gardens, annual Christmas Market and is a medieval 'grid town'. The Town is located just off of the A14 trunk road and has rail links to Cambridge and Ipswich. The Greyhound is located within a short walk of the Abbey gardens and Town centre, on Eastgate Street

Business Information

Annual rent

£44,000

Weekly rent

£846

Entry costs

£37,625

Turnover royalty

n/a

Forecasted Operator Turnover

£455,298

Forecasted Operator Profit (inc machine profit)

£43,215

Forecasted Operator Machine Profit

£7,000

Average Beer & Cider Discount*

£36

Type of Tie

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

Agreement

Standard Tenancy Agreement A fixed 5 year term. Machines income retained by licensee

Entry cost is approximately £37,625.00 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 £55,000. 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

£11,000

Fixtures & Fittings

£13,750

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£37,625

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 0 0 0
2019 77 373 1,874
2018 148 768 3,244

There is an Internal open plan public bar, dining area, lounge and pool area with a total of approximately sixty food covers. There are gents, ladies and disabled toilets, a trade kitchen, ground floor cellar and two storerooms. Externally there is an extensive garden and patio areas

Trade Bars

1

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

60

Trade Gardens

1

Trade Patio Areas

1

Trade Rooms to Let

0

Meeting Rooms

0

External Child Play Areas

0

Function Rooms

0

Customer Car Park Spaces

10

Current Premises License Opening Hours

Sun - Thu: 10:00 - 00:30
Fri - Sat: 10:00 - 01:30

Two double bedrooms, lounge, kitchen and a bathroom with a shower.

Private Rooms

6

Lounge

1

Dining Rooms

0

Double Bedrooms

3

Single Bedrooms

0

Bathrooms

1

Toilets

0

Private Kitchens

1

Offices

0

Bedsits

0

BDM Portrait

I am looking for an experienced operator with enthusiasm, who is a community minded individual or couple with a passion for Pubs and the ability to develop the food trade. The site has bags of potential, so if this looks like the right Pub for you, please contact the recruitment team for more information.

Sam Wortley,

Apply for this property

The Pub Partners team at Greene King is here to help you make the right decisions about starting your own pub business.