Otter

12 The Square, Drayton, Norwich, Norfolk, NR8 6XE

HIVE PUBS - REFURBISHMENT PLANNED

Currently known as The Otter, we are planning a rejuvenating refurbishment of this pub to transform it to a Hive Pub under it's new name The Mill. Located in Thorpe Marriott, this pub is a current Greene King managed house, but after the refurb will become a Hive franchise pub. The refurbishment will see a change of first impressions externally with new high impact signage and lighting. The pub will look more welcoming and diner friendly upon entering. The current presence of gaming machines will be toned down and Darts will be located to the rear of the pub as we zone strong drinking and sports viewing areas alongside a fabulous new garden featuring a covered pergola with external TV. The Mill will be a strong community pub welcoming a wider clientele.

Location

The Otter (to be renamed The Mill ) lies in a residential setting in Drayton, north-west of Norwich. It is next to parade of shops and community hall, opposite a small park and area well used by local dog walkers. The pub benefits from a shared car park and external areas. With an approximate 14,000 population within 1 mile, there is a good catchment available. The pub was purpose built in 1990. The pub lies in a residential area serving the parishes of Taverham and Drayton – an area famous for it's Old Mills hence the new name The Mill.

Business Information

Annual rent

£0

Weekly rent

£0

Entry costs

£8,000

Turnover royalty

n/a

Forecasted Operator Turnover

£598,000

Forecasted Operator Profit (inc machine profit)

£40,000

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

Type of Tie

Agreement

Hive Pub Franchise Agreements are an agreement for people who have Pub Management experience but are looking to find a simple way to run their own business without having a huge entry cost. You pay £5,000 entry fee and we take care of the property costs, energy bills and stock. We supply marketing, training, and ongoing support. You can expect to earn a guaranteed minimum income of £20,000 which is paid weekly (£385 per week). In addition, you'll be paid a percentage of weekly sales, known as the weekly turnover share, to cover your staffing costs. Bonuses are available based on business performance and standards audits. Private accommodation is provided where available.

Entry cost of £5000 is payable on change day. This includes legal fees and start up training costs. An extra £3000 will be required as working capital, to ensure there is sufficient cash flow in the business before we make our first payment to you. You will be responsible for paying any staff wages including Employers National Insurance, liability insurances to protect the business and the public, TV licence and council tax for private accommodation.

Deposit

£0

Fixtures & Fittings

£0

Legal Admin Fee

£0

Broker Fee

£0

Stocktaking Fee

£0

Working Capital

£3,000

Other Costs

£5,000

Total Entry Costs

£8,000

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 233 2,409 7,540
2022 212 2,143 7,635
2021 173 1,881 5,043

The trade area is a split level space, with dining height tables over 2 floors and dedicated pool and sports zones. Externally there is a covered patio space to the side and rear. The garden area to the rear is laid to lawn. The entire trade space both internally and externally will be completely refurbished.

Trade Bars

1

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

48

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

0

Current Premises Licence Opening Hours

Opening hours to be confirmed.

The accommodation comprises 3 bedrooms, kitchen, lounge, bathroom and toilet.

Private Rooms

7

Lounge

1

Dining Rooms

0

Double Bedrooms

3

Single Bedrooms

0

Bathrooms

1

Toilets

1

Private Kitchens

1

Offices

0

Bedsits

0

BDM Portrait

If you have experience of running or managing a pub and are looking for a model with a low entry point, with less exposure to risk, a Hive Pubs franchise might be just what you are looking for. We set the business up and supply everything you need, leaving you to focus on serving your local community and ensuring you can offer the best customer experiences.

Becky Holt, Business Development Manager

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