Spen Dyke

Lytham Road, Blackpool, Lancashire, FY4 1JE

Benefiting from a recent £300,000 investment, the Spen Dyke is an amazing opportunity for an experienced and enthusiastic operator!

The Spen Dyke is a land mark property that is well located to benefit from the recent £300k full internal and external re-presentation investment, a strong local demographic and the opening of the new Armfield Academy opposite. A full internal and external re-furbishment investment has been recently completed at this highly visible land-mark Pub. The investment has created a modern alehouse type operation capable of becoming easily the best pub in the area. The Pub will be a predominantly wet led site, operating to a 75:25 wet to dry split. The key to this site will be exceptional hospitality and standards to support a strong programme of activity and events with a complimentary modern market-led food offer.

Location

The Spen Dyke is a land mark property that is well located to benefit from the recent £300k full internal and external re-presentation investment, a strong local demographic and the opening of the new Armfield Academy opposite. A full internal and external re-furbishment investment has been recently completed at this highly visible land-mark Pub. The investment has created a modern alehouse type operation capable of becoming easily the best pub in the area. The Pub will be a predominantly wet led site, operating to a 75:25 wet to dry split. The key to this site will be exceptional hospitality and standards to support a strong programme of activity and events with a complimentary modern market-led food offer.

Business Information

Annual rent

£11,500

Weekly rent

£221

Entry costs

£26,625

Turnover royalty

n/a

Forecasted Operator Turnover

£365,082

Forecasted Operator Profit (inc machine profit)

£20

Forecasted Operator Machine Profit

£2,500

Average Beer & Cider Discount*

Blended £180

Type of Tie

Partial tie: Tied All Beer, All Cider & Minerals

Agreement

Standard Tenancy Agreement A fixed 5 year term agreement which is contracted out of the Landlord and Tenant Act 1954 •Tie variations available •Rent set at the start of the agreement, subject to the annual Retail Prices Index (RPI) which is capped •Flexible pricing options available •Greene King is responsible for the structure of the building •Ability to end agreement with 6 months notice at any time with standard notice fee equal to 3 months rent

Entry cost is approximately £26,625.00 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 full valuation of Fixtures and Fittings is estimated at approximately £51,000. 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

£6,000

Fixtures & Fittings

£12,750

Legal Admin Fee

£825

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£5,000

Other Costs

£1,150

Total Entry Costs

£26,625

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.

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2018/19 89 421 2,575
2017/18 80 518 1,432
2016/17 74 422 1,860

The trading area consists of four zones. A lower level suitable for TV sports viewing and pub sports, a ground floor area where the bar counter is located and space has been created for live entertainment artists, a mezzanine area for dining and seated drinking and a small function room on the top floor which can be accessed via a separate stairway in the pub (the top floor function space requires further investment to complete). There is a well equipped catering kitchen which serves the entire pub through a dumb waiter. Externally, there is a newly created modern terraced area to the side of the pub with ample chairs and tables to service the obvious al-fresco eating and drinking opportunity. There is also a car park for 30 cars and a separate rear car park which could be developed in to a beer garden or event space.

Trade Bars

Yes

Trade Dining Areas

Yes

Trade Kitchens

Yes

Trade Food Covers

70

Trade Gardens

No

Trade Patio Areas

Yes

Trade Rooms to Let

0

Meeting Rooms

No

External Child Play Areas

No

Function Rooms

Yes

Customer Car Park Spaces

30

Current Premises License Opening Hours

Mon - Sun: 10:00 - 00:30.

The private accommodation is spacious and presented to a good standard, and consists of a lounge, three bedrooms, kitchen and bathroom. Some improvements have been undertaken as part of the investment programme.

Private Rooms

8

Lounge

Yes

Dining Rooms

0

Double Bedrooms

2

Single Bedrooms

1

Bathrooms

1

Toilets

1

Private Kitchens

1

Offices

1

Bedsits

0

BDM Portrait

We are looking for an experienced licensee with great hospitality skills, good pub food catering experience and an ability to re-launch this landmark property post-investment. You will need to be familiar with a community pub style operation including TV sports viewing and pub entertainment footfall in order to maximise the obvious potential of this pub and well populated location. The rewards for the successful applicant will be significant and commensurate with the effort required to deliver the forecasted revenues.

Peter Cunningham, Business Development Manager

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