Red Lion
1-3 Corn Street, Witney, Oxfordshire, OX28 6DB
A CHAMELEON OF A PUB
The Red Lion, Witney is currently trading as an American Smokehouse restaurant but has previously operated as a late night venue and licensed until 2am. We are looking for a new partner who can re-introduce the Red Lion as a late night venue to drive the wet volume, but can ensure the pub offers food and a casual environment during the day, whilst ramping up the party atmosphere during the weekend evenings.
Function rooms
Kitchen
Patio
Location
The Red Lion is located in Corn Street just off the main thoroughfare within the centre of the Oxfordshire market town of Witney; very much at the heart of the Cotswolds. There are lots of the big High Street chains here along with artisan and independent operators. Witney High Street is very competitive but also busy. Oxford is also only 12 miles away.
Business Information
Annual rent
£32,000
Weekly rent
£615
Entry costs
£27,125
Turnover royalty
n/a
Forecasted Operator Turnover
£508,697
Forecasted Operator Profit (inc machine profit)
£34,091
Forecasted Operator Machine Profit
£0
Average Beer & Cider Discount*
£72
Type of Tie
Partial tie: Tied All Beer, All Cider, Minerals & Spirits
Agreement
Standard Tenancy Agreement. A fixed 5 year term.
Entry cost is approximately £27,125 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 £25,000. 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
£8,000
Fixtures & Fittings
£6,250
Legal Admin Fee
£825
Broker Fee
£750
Stocktaking Fee
£150
Working Capital
£10,000
Other Costs
£1,150
Total Entry Costs
£27,125
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 | 36 | 158 | 4,966 |
| 2022 | 45 | 207 | 5,049 |
| 2021 | 30 | 169 | 3,689 |
There are two main bar trading areas, one with stage/dance floor.
Trade Bars
2
Trade Dining Areas
2
Trade Kitchens
1
Trade Food Covers
80
Trade Gardens
0
Trade Patio Areas
1
Trade Rooms to Let
0
Meeting Rooms
0
External Child Play Areas
0
Function Rooms
1
Customer Car Park Spaces
0
Current Premises Licence Opening Hours
Sun-Thu: 10:00-01:30
Fri-Sat: 10:00-02:30
The accommodation comprises 2 bedrooms, lounge, bathroom, toilet and office.
Private Rooms
6
Lounge
1
Dining Rooms
0
Double Bedrooms
2
Single Bedrooms
0
Bathrooms
1
Toilets
1
Private Kitchens
0
Offices
1
Bedsits
0
I amm ideally looking for an experienced pub operator that has operated late night venues. This new partner needs to see the potential of a new late night venue in Witney and be able to deliver two completely different offers, as the day turns to night.
Bruce Wakeling, Business Development Manager
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