Queens Head

Rushden Road, Milton Ernest, Bedfordshire, MK44 1RU

INVESTMENT PLANNED

The Queens Head in Milton Ernest is a former Greene King managed house which has now transferred to our leased and tenanted division. Experience is essential for this site and to be considered for it you will need to demonstrate a vast level of experience with a mainstream, premium food offer and letting rooms. A substantial investment scheme is planned to rejuvenate the site and bring a new lease of life to the pub. We expect the site to trade at an even mix of food and drink and the operator will need to have a focus on letting room occupation rates.

Location

Milton Ernest is a village and civil parish in Bedfordshire, about five miles north of Bedford itself. On 15 December 1944, Glenn Miller took off from RAF Twinwood Farm, in neighbouring Clapham, on his last, ill-fated flight, and was last seen in public in the Queen's Head Hotel in Milton Ernest before he disappeared. A plaque at Milton Ernest Hall honours Major Glenn Miller and members of the United States Eighth Air Force, it reads "IN MEMORY OF ALL THE PERSONNEL WHO SERVED IN WORLD WAR II AT MILTON ERNEST HALL HEADQUARTERS USAAF EIGHTH AIR FORCE SERVICE COMMAND STATION 608 1943-1946, ALSO MAJOR GLENN MILLER & THE BAND OF THE ALLIED EXPEDITIONARY FORCE WHO WERE STATIONED HERE FROM JULY TO DECEMBER 1944". The Queens Head is located on the busy Rushden Road and is close to numerous residential properties.

Business Information

Annual rent

£60,000

Weekly rent

£1,154

Entry costs

£67,875

Turnover royalty

7%

Forecasted Operator Turnover

£705,684

Forecasted Operator Profit (inc machine profit)

£91,151

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

Turnover Discount

Type of Tie

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

Agreement

Standard Turnover Agreement A fixed 5 year term

Entry cost is approximately £67,875.00 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 £100,000,000. 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

£15,000

Fixtures & Fittings

£25,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£25,000

Other Costs

£1,150

Total Entry Costs

£67,875

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 8 10 544
2019 57 47 3,098
2018 56 909 3,152

The trade space has a reception area, small snug bar and bar and dining room. There are approximately seventy-two dining covers. There are fifteen letting rooms on the first floor, all of which are en suite. Externally there is a patio area and parking for approximately twenty cars.

Trade Bars

2

Trade Dining Areas

1

Trade Kitchens

1

Trade Food Covers

72

Trade Gardens

0

Trade Patio Areas

1

Trade Rooms to Let

15

Meeting Rooms

1

External Child Play Areas

0

Function Rooms

0

Customer Car Park Spaces

20

Current Premises License Opening Hours

Sun-Thu: 10:00-00:00
Fri-Sat: 10:00-00:30

The accommodation is in good condition and comprises two bedrooms, kitchen, lounge, 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 experienced operator who can deliver a mainstream, premium food offer and handle fifteen letting rooms. The site has an exciting future with the change of model we are delivering and we plan to invest in the refurbishment of the site as soon as possible (subject to approvals), although any new operator will also need to be prepared to invest too. If you have the experience and feel this is your next challenge, then please contact the recruitment team for further information

Phil Venables, Business Development Manager

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