Royal Oak

Longbridge Road, Barking, Essex, IG11 8UF

A PUB TO RE INVIGORATE

The Royal Oak is a splendid purpose-built Victorian pub, in the busy area of Barking, East London. The pub gives you the opportunity to move away from the previous late night, vertical drinking/shisha offer and adopt a traditional pub or food led business. You'll need to tidy up the pub and take control of the door, whilst using your passion, knowledge and skills to re-invent the business. The pub is located on a busy crossroads, with plenty of passing traffic and footfall, as well as being surrounded by large residential areas. We look forward to discussing your ideas for the future of the Royal Oak.

Location

Barking is a district of East London and the administrative centre of the London Borough of Barking and Dagenham. It is 9.3 miles east of Charing Cross. It was historically an ancient parish that straddled the River Roding in the county of Essex. It underwent a shift from fishing and farming to market gardening and industrial development on the River Thames. Barking railway station opened in 1854 and has been served by the London Underground since 1908. As part of the suburban growth of London in the 20th century, The Urban District of Barking significantly expanded and increased in population, primarily due to the development of the London County Council estate at Becontree in the 1920s, and became a municipal borough in 1931, and part of Greater London in 1965. In addition to an extensive and fairly low-density residential area, the town centre forms a large retail and commercial district, currently a focus for regeneration. The former industrial lands to the south are being redeveloped as Barking Riverside.

Business Information

Annual rent

£50,000

Weekly rent

£962

Entry costs

£39,375

Turnover royalty

n/a

Forecasted Operator Turnover

£609,612

Forecasted Operator Profit (inc machine profit)

£49,982

Forecasted Operator Machine Profit

£13,050

Average Beer & Cider Discount*

£72

Type of Tie

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

Agreement

Standard Tenancy Agreement A fixed 5 year term. Machine income retained by licensee

Entry costs approximately £39,375.00, 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 £14,000 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

£12,500

Fixtures & Fittings

£14,000

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£39,375

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 0 0 0
2019 152 0 2,700
2018 303 28 4,297

The trading space centers on a dual aspect bar with plenty of tables and chairs dotted around. Externally there is a large patio area, as well as garden which is laid to lawn.

Trade Bars

1

Trade Dining Areas

1

Trade Kitchens

2

Trade Food Covers

40

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

Sun-Wed: 10:00-00:30
Thu-Sat: 10:00-01:30

The accommodation has been recently decorated, however the kitchen and bathrooms are basic.

Private Rooms

11

Lounge

1

Dining Rooms

1

Double Bedrooms

5

Single Bedrooms

0

Bathrooms

2

Toilets

0

Private Kitchens

1

Offices

1

Bedsits

0

BDM Portrait

I am seeking an experienced and strong operator with knowledge and knowhow of the local area. Being able to control the door and handle a lively atmosphere will be key to your success. If this is the type of business that you have been looking for, then please contact our recruitment team for further information.

Tim Sparrow, Business Development Manager

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