Paxton

255 Gypsy Road, West Dulwich, Greater London, SE27 9QY

The Paxton is a renowned landmark pub in a prominent location in the heart of Gipsy Hill.

This is an imposing, traditional building with a recently modernised interior provided split level trading space for customers. Gipsy Hill has higher than the national average of 20-39 year olds and a trendy but authentic environment offers the right place to attract people for a busy Saturday night or a relaxing Sunday afternoon. The business has established a reputation for high quality food and a diverse range of beers, wines and spirits. There are 100 food covers available which increases further with the use of the garden area to the rear of the pub. We are looking for an experienced, London based operator to take this business forward and add their personality to turn this into a ‘must visit’ destination for nearby residents and passing trade.

Location

Business Information

Annual rent

£66,000

Weekly rent

£1,269

Entry costs

£81,225

Turnover royalty

%0

Forecasted Operator Turnover

£750,677

Forecasted Operator Profit (inc machine profit)

£65,045

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

£72.00

Type of Tie

Partial tie: Tied All Beer, All Cider & Minerals

Agreement

Standard Tenancy Agreement A fixed 5 year term agreement which is contracted out of the Landlord and Tenant Act 1954 •Tie variations available •Rent set at the start of the agreement, subject to the annual Retail Prices Index (RPI) which is capped •Flexible pricing options available •Greene King is responsible for the structure of the building •Ability to end agreement with 6 months notice at any time with standard notice fee equal to 3 months rent

Entry costs approximately £81,225.00, 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 £50,000 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

£16,500

Fixtures & Fittings

£50,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£6,000

Other Costs

£7,000

Total Entry Costs

£81,225

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.

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2018/19 99 191 3,496
2017/18 107 2,800 5,389
2016/17 122 3,667 7,677

The main trading areas are on split levels with two bar servery's. There is an open kitchen to the rear of the bar. There is a patio garden area to the back of the pub with an opportunity to develop this area further for the summer of 2020. The pub was fully refurbished in the autumn of 2018. The toilets are located on a level below the main trading areas.

Trade Bars

Yes

Trade Dining Areas

Yes

Trade Kitchens

Yes

Trade Food Covers

100

Trade Gardens

Yes

Trade Patio Areas

Yes

Trade Rooms to Let

0

Meeting Rooms

No

External Child Play Areas

No

Function Rooms

No

Customer Car Park Spaces

0

Current Premises License Opening Hours

Mon-Thu: 11:00 - 01:00
Fri-Sat: 11:00 - 02:30
Sun: 12:00 – 00:00

Private accommodation is in good condition throughout.

Private Rooms

4

Lounge

Yes

Dining Rooms

0

Double Bedrooms

1

Single Bedrooms

0

Bathrooms

1

Toilets

0

Private Kitchens

1

Offices

0

Bedsits

0

BDM Portrait

I am looking for a top quality London based operator to take on this fantastic business. Following a refurbishment late last year this pub is in excellent condition and offers a great opportunity to grow this business further.

Tim Sparrow, Business Development Manager

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