Red Lion

North Street, Wareham, Dorset, BH20 4AB

EXCELLENT OPPORTUNITY TO DEVELOP A STRONG, MULTI FACTED BUSINESS

The Red Lion is a cracking opportunity to develop a blank canvass and utilise three main revenue streams, food, beverage and letting rooms. The successful applicant will have a desire to work with the local community and also use clever marketing and promotions to attract tourists to the restaurant and to occupy the letting rooms. A passion to offer excellent standards of service and quality accommodation is a must. The pub is situated in the middle of town, so benefits from strong footfall and weekend circuit trade. The building is of traditional construction and is a real presence in the town.

Location

Business Information

Annual rent

£50,000

Weekly rent

£962

Entry costs

£43,875

Turnover royalty

n/a

Forecasted Operator Turnover

£599,604

Forecasted Operator Profit (inc machine profit)

£49,526

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

Type of Tie

Partial tie: Tied All Beer & All Cider

Agreement

Standard Tenancy Agreement A fixed 5 year term agreement

Entry costs approximately £43,875.00, 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 £16,000 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

£15,000

Fixtures & Fittings

£16,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£43,875

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. **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 47 273 1,928
2018/19 74 1,457 3,843
2017/18 71 1,477 3,861

The trade area is a single bar operation with potential for a snug at one end of the bar and a formal dining area the other. This is a flexible space and can be adapted to suit the operator. The space offers approximately one hundred food covers. Upstairs there are ten letting rooms with the potential for two others (there are two rooms from the private accommodation which could be utilised). Externally there is a courtyard and five off road parking spaces. Further parking is available in the town.

Trade Bars

Yes

Trade Dining Areas

Yes

Trade Kitchens

Yes

Trade Food Covers

100

Trade Gardens

No

Trade Patio Areas

Yes

Trade Rooms to Let

10

Meeting Rooms

No

External Child Play Areas

No

Function Rooms

No

Customer Car Park Spaces

5

Current Premises License Opening Hours

Mon-Thu: 07:30 - 23:50
Fri-Sat: 07:30 - 00:20
Sun: 08:00 - 23:50

The living accommodation is in good condition and is extensive.

Private Rooms

8

Lounge

Yes

Dining Rooms

0

Double Bedrooms

2

Single Bedrooms

0

Bathrooms

2

Toilets

1

Private Kitchens

1

Offices

1

Bedsits

0

BDM Portrait

I am looking for an experienced operator, with good all round knowledge of food, beverage and letting rooms. This is a multi faceted business, so knowing how to maximise all revenue streams is a must. If the Red Lion is the right kind of pub business for you, then please contact our recruitment team for further information.

Rob Ayling, Business Development Manager

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