Old George

Arlesey Road, Ickleford, Hitchin, Hertfordshire, SG5 3UX

A WELL ESTABLISHED BUSINESS, POPULAR WITH DINERS AND LOCAL DRINKERS

The Old George is a successful village pub, with an excellent reputation for food, whilst remaining popular with the local drinkers. The building has a beautiful exterior and is smartly presented inside, bristling with charm and character. The current operator has traded this site extremely well in recent years and will be a hard act to follow. To site currently operates at a 60/40 split in favour of wet sales and any new operator will need to be a chameleon and be able to maintain the excellent service and standards, whilst engaging with the locals, being a pillar of the local community and offering a regular calendar of events, such as live music. The pub also has a lovely garden and this could be utilised further to increase sales, possibly by offering Pizza or street food. This is a really exciting opportunity to run a well established and extremely successful business which could be very rewarding for the right operator.

Location

Ickleford is a large village situated on the northern outskirts of Hitchin in North Hertfordshire. It lies on the west bank of the River Hiz and to the east of the main A600 road. It was partly in Bedfordshire until the Bedfordshire portion of the civil parish was transferred to Hertfordshire by the Counties (Detached Parts) Act 1844. The Old George is located in the centre of the village close to the Church and residential areas. The village has a primary school, village shop and hairdresser. There are also two other pubs in the village, one more food led, one more wet led

Business Information

Annual rent

£35,000

Weekly rent

£673

Entry costs

£46,625

Turnover royalty

n/a

Forecasted Operator Turnover

£413,051

Forecasted Operator Profit (inc machine profit)

£34,221

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

Type of Tie

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

Agreement

Standard Tenancy Agreement A fixed 5 year term

Entry costs approximately £46,625.00, 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

£10,000

Other Costs

£1,150

Total Entry Costs

£46,625

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. **Please note trading volumes for year 19/20 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2019/20 176 2,734 4,448
2018/19 164 2,700 4,338
2017/18 169 3,022 3,853

The site is a two bar operation with a stunning open fire place in the main bar and traditional beams and features throughout. There are forty eight food covers internally and a ground floor trade kitchen. Externally there are two well maintained patio areas, with the potential to further extend the food trade. There is car parking for sixteen cars

Trade Bars

2

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

48

Trade Gardens

0

Trade Patio Areas

2

Trade Rooms to Let

0

Meeting Rooms

0

External Child Play Areas

0

Function Rooms

0

Customer Car Park Spaces

12

Current Premises License Opening Hours

Mon - Thu: 11:00-00:30
Fri - Sat: 11:00-01:30
Sun: 11:00 - 00:00

The accommodation is in fair condition and consists of two bedrooms, lounge, kitchen. bathroom and office

Private Rooms

6

Lounge

1

Dining Rooms

0

Double Bedrooms

2

Single Bedrooms

0

Bathrooms

1

Toilets

0

Private Kitchens

1

Offices

1

Bedsits

0

BDM Portrait

I am seeking an excellent experienced operator who can be a real chameleon. This is a great pub, with strong local trade, excellent food and an excellent reputation that must be upheld. If you are seeking a challenge like this one, please contact the recruitment team for further information.

Phil Venables, Business Development Manager

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