Hermit of Redcoats
Redcoats Green, Little Wymondley, Hitchin, Hertfordshire, SG4 7JR
AN ATTRACTIVE DESTINATION PUB
The Hermit of Redcoats is located in the picturesque Hertfordshire countryside, just south of Hitchin. The pub has space for around 40 internal covers in its current format. The real asset of the site is its outdoor facilities. Boasting a large car park and garden, there is the ability to hold events and functions. The new operator will need to create a destination food offer, capable of pulling customers from the surrounding large urban areas of Hitchin, Stevenage and Letchworth. The unusual name comes from the story of an interesting local character, James Lucas, who was known as the Hermit of Hertfordshire; a Victorian recluse who barricaded himself into his house and communicated only through an iron gate.
Bar
Garden
Kitchen
Location
Little Wymondley is a village situated between Hitchin and Stevenage in Hertfordshire, England. Only 12 miles from Luton Airport, which is a short distance from the A1 motorway and it is an easy 30 minute train journey from Hitchin to London. There is a large wedding-focused venue about 500m away. Additionally, in the village of Little Wymondley, there are two pubs. The towns of Stevenage and Hitchin are larger urban areas and as such contain several outlets.
Business Information
Annual rent
£24,000
Weekly rent
£462
Entry costs
£23,875
Turnover royalty
n/a
Forecasted Operator Turnover
£402,309
Forecasted Operator Profit (inc machine profit)
£24,007
Forecasted Operator Machine Profit
£0
Average Beer & Cider Discount*
£72
Type of Tie
Partial tie: Tied All Beer, All Cider & Minerals
Agreement
Standard Tenancy Agreement. A fixed 5 year term.
Entry cost is approximately £23,875 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. 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
£6,000
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
£23,875
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 | 98 | 1,263 | 3,997 |
| 2022 | 120 | 1,259 | 5,577 |
| 2021 | 85 | 953 | 3,286 |
The main entrance opens into a casual lounge bar area set for drinks. To the right of the bar is the restaurant area, set for dining. Public toilets are located in the corridor off the restaurant.
Trade Bars
1
Trade Dining Areas
2
Trade Kitchens
1
Trade Food Covers
40
Trade Gardens
1
Trade Patio Areas
2
Trade Rooms to Let
0
Meeting Rooms
0
External Child Play Areas
0
Function Rooms
0
Customer Car Park Spaces
30
Current Premises Licence Opening Hours
Sun-Thu: 11:00-00:30
Fri-Sat: 11:00-01:30
The accommodation comprises 2 bedrooms, kitchen, lounge. bathroom, toilet and office.
Private Rooms
7
Lounge
1
Dining Rooms
0
Double Bedrooms
2
Single Bedrooms
0
Bathrooms
1
Toilets
1
Private Kitchens
1
Offices
1
Bedsits
0
I am looking for an experienced food driven operator, who understands the importance of developing and maintaining an identity for the business. The site’s location demands someone that can develop the business into a destination venue.
Daniel Nixon, Business Development Manager
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