Gym
3 Risbygate Street, Bury St Edmunds, Suffolk, IP33 3AA
EXCITING LATE NIGHT OPPORTUNITY
The Gym Bar in the heart of Bury St Edmunds is a late night sports themed bar in need of a new direction. The pub is currently 95% wet led, but offers a fully functioning kitchen that could help expand the trade to a wider audience. We will be looking for you to completely change the offer within the pub and would be open to a change of name. The current operator will be removing all of the fixtures and fittings so you will need to provide all new F&F. The pub benefits from a late licence all week round, so the possibilities here are high. Bring your creative flair and imagination to form your own unique pub business in partnership with Greene King.
Bar
Kitchen
Location
Bury St Edmunds, commonly referred to locally as Bury, is a historic market and cathedral town and civil parish in Suffolk. The town is best known for Bury St Edmunds Abbey and St Edmundsbury Cathedral. The town has been the home of Greene King since our formation in 1799. The Gym Bar lies on Risbygate Street just off of the town centre, surrounded by a number of other pubs, restaurants, cafés and late night venues.
Business Information
Annual rent
£36,500
Weekly rent
£702
Entry costs
£19,875
Turnover royalty
n/a
Forecasted Operator Turnover
£398,786
Forecasted Operator Profit (inc machine profit)
£40,929
Forecasted Operator Machine Profit
£4,500
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. The annual rent shown (£36,500 per annum) takes into consideration a machines supply concession. The annual rent will be £41,000 if you prefer not to have Greene King supply machines to you.
Entry cost is approximately £19,875, 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 (the deposit will need to be built up to £9,125 which is 25% of head rent). Please note Fixtures and Fittings are estimated at approximately £20,000. 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
£2,000
Fixtures & Fittings
£5,000
Legal Admin Fee
£825
Broker Fee
£750
Stocktaking Fee
£150
Working Capital
£10,000
Other Costs
£1,150
Total Entry Costs
£19,875
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 2021 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**
| Year | Beer (Brls) | Wine & Spirits (Ltrs) | Minerals (Ltrs) |
|---|---|---|---|
| 2023 | 116 | 815 | 18 |
| 2022 | 103 | 542 | 22 |
| 2021 | 83 | 354 | 346 |
The trade space is open plan. As you walk in the pub to the left you currently have a pool table, ahead of you is the bar area, which leads round to the main bar and DJ/stage area.
Trade Bars
1
Trade Dining Areas
0
Trade Kitchens
1
Trade Food Covers
40
Trade Gardens
0
Trade Patio Areas
0
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
Sun-Wed: 10:00-01:30
Thu-Sat: 10:00-03:30
The accommodation comprises 3 bedrooms, lounge, dining room, kitchen, bathroom, toilet and office.
Private Rooms
9
Lounge
1
Dining Rooms
1
Double Bedrooms
3
Single Bedrooms
0
Bathrooms
1
Toilets
1
Private Kitchens
1
Offices
1
Bedsits
0
This is an exciting opportunity to completely re brand the Gym Bar and really make it your own! This late night venue lies in the heart of town and offers a whole host of potential to become one of the towns stand out bars.
Samantha Wortley, Business Development Manager
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