Royal Oak

13 Crown Street, St Ives, Cambridgeshire, PE27 5EB

REFURBISHMENT PLANNED

The Royal Oak in St Ives offers a great opportunity to revitalise this town centre pub. The site is currently trading at 100% wet sales and attracting only the local drinkers, however our refurbishment plans will create an all day appeal to the existing customer base, shoppers, tourists and students alike. The refurbishment will create a relaxed atmosphere, interspersed with the smells of fresh coffee, hot food and real ale. This will re position the site to an offer featuring pizza (from purpose built pizza oven) and simple sandwiches, grills and cakes, alongside a strong range of drinks. We envisage the site becoming a true centre of the local community.

Location

The market town of St Ives is a hidden gem set in the beautiful north Cambridgeshire countryside. There are many appealing reasons to visit, such as the tranquil riverside, the traditional weekly markets and the soon to be refurbished Royal Oak.

Business Information

Annual rent

£40,000

Weekly rent

£769

Entry costs

£33,625

Turnover royalty

n/a

Forecasted Operator Turnover

£459,901

Forecasted Operator Profit (inc machine profit)

£39,447

Forecasted Operator Machine Profit

£9,000

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

Entry cost is approximately £33,625.00 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 £43,000. 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

£10,000

Fixtures & Fittings

£10,750

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,150

Total Entry Costs

£33,625

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 & 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)
2021 30 19 641
2020 63 38 819
2019 188 177 3,140

The trade space features a single bar with four distinct trade areas, which open to the rear courtyard. The site has approximately forty food covers.

Trade Bars

1

Trade Dining Areas

0

Trade Kitchens

1

Trade Food Covers

40

Trade Gardens

0

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

Mon-Thu: 09:00-02:00
Fri-Sat: 09:00-03:00
Sun: 09:00-01:00

The living accommodation will be improved and consists of four bedrooms, kitchen, lounge and bathroom

Private Rooms

8

Lounge

1

Dining Rooms

0

Double Bedrooms

4

Single Bedrooms

0

Bathrooms

1

Toilets

1

Private Kitchens

1

Offices

0

Bedsits

0

BDM Portrait

I am searching for an experienced town centre operator who can revive this business and relaunch it in line with our refurbishment plan. The business is currently under utilised and the new operator will be able to have a real impact on the site. For further information, please contact our recruitment team for further information.

Lee Jarvis, Business Development Manager

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