Old England

Front Street, Great Lumley, Chester-Le-Street, Durham, DH3 4JB

REFURBISHMENT PLANNED

The Old England at Great Lumley represents a great opportunity to re launch and re position the pub in the local market. We are planning to refurbish the pub throughout to modernise the décor, toilets and bar areas. It is a large site, with locals drinking and socialising bar and a separate large dining which is currently under utilised. The opportunity here is to implement a good local food offer to attract new customers, from the large amounts of surrounding residential homes. This is the only remaining pub in the area, so if you get your offer right, there is a captive audience close by. Currently the site is heavily wet led, so this means there is a real chance to improve sales and footfall.

Location

Great Lumley is a small-to-medium sized town in County Durham. It is situated south east of Chester-le-Street, near Lumley Castle. The Old England is located centrally with large residential housing areas close by, in a prominent roadside position.

Business Information

Annual rent

£17,300

Weekly rent

£333

Entry costs

£48,875

Turnover royalty

n/a

Forecasted Operator Turnover

£324,550

Forecasted Operator Profit (inc machine profit)

£19,319

Forecasted Operator Machine Profit

£2,000

Average Beer & Cider Discount*

£180

Type of Tie

Partial tie: Tied All Beer, All Cider & Minerals

Agreement

Standard Tenancy Agreement A fixed 5 year term. The annual rent shown (£17,300 per annum) takes into consideration a machines supply concession. The annual rent will be £19,300.00 if you prefer not to have Greene King supply machines to you.

Entry costs approximately £48,875.00, 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 £30,000 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

£6,000

Fixtures & Fittings

£30,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£48,875

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 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 113 251 1,200
2019 253 441 2,706
2018 87 271 2,303

This is a large single room operation, zoned into two areas. There is a locals drinking bar and large dining area, both with own bar service area. There are approximately 80 food covers. Externally, there is a car par with off road parking for approximately 30 vehicles.

Trade Bars

2

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

80

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

30

Current Premises Licence Opening Hours

Mon-Wed: 11:00-23:30
Thu-Sat: 11:00-00:30
Sun: 12:00-23:00

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

BDM Portrait

I am seeking an enthusiastic local operator, who can make the most of a great opportunity to implement a good traditional local food offer to this pub. Experience is preferred but not essential. To find out more, please contact our recruitment team.

Sarah Barron, Business Development Manager

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