Wheatsheaf Inn

3 Main Street, Symington, KA1 5QB

Rare opportunity to take over remaining term on the lease (10yrs) of this popular, well established family run business

Its an excellent opportunity to purchase a successful business which trades with an enviable reputation and client base. The business trades very well with a high turnover generated from food sales (approx. 75%) and wet sales (approx... 25%). For more information or to make an appointment to view please contact Bruce & Co direct on 0131 314 0660 or email info@bruceandco.co.uk

Location

Business Information

Annual rent

£43,893

Weekly rent

£844

Entry costs

£172,774

Turnover royalty

n/a

Forecasted Operator Turnover

£469,993

Forecasted Operator Profit (inc machine profit)

£40,259

Forecasted Operator Machine Profit

£2,000

Average Beer & Cider Discount*

£108

Type of Tie

Partial tie: Tied All Beer, All Cider & Minerals

Agreement

STANDARD LEASE AGREEMENT This is a fully repairing and insuring (FRI) Lease Agreement. It is designed for experienced Licensees and requires a higher amount of investment than our other Agreements. FEATURES • The Agreement term is for a minimum of 10 years with option to increase in 5 year periods up to 25 years. • Fully protected under the Landlord and Tenant Act 1954 with right of renewal • The Lease can be assigned after 2 years (subject to our approval). • Tie variations are available. • Flexible discounts and pricing available. • Gaming machines are supplied through Greene King on a 50/50 profit split. • Full purchase of the Inventory (Fixtures & Fittings) is required at the start of the Agreement. • Rent is subject to five yearly open market rent reviews and is also subject to the annual Retail Price Index (RPI) which is capped. • A deposit of 25% of the annual rent (minimum £6,000) is required. • The lessee will be fully responsible for both internal and external repairs to the building.

Entry costs approx £172,774.00 which includes fixtures and fittings, stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit (25% of head rent, minimum £6,000). **150K for Fixture and fittings includes cost of 10yr lease.**

Deposit

£10,974

Fixtures & Fittings

£150,000

Legal Admin Fee

£850

Broker Fee

£0

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£800

Total Entry Costs

£172,774

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 43 0 4,343
2018/19 49 5 2,962
2017/18 54 19 3,552

There are three distinctive trading areas including two dining areas plus cosy sung with recently refurbished lounge / function room. The site also benefits from a beer garden comprising of 25 covers serving lunch and drinks during the warmer months.

Trade Bars

Yes

Trade Dining Areas

Yes

Trade Kitchens

Yes

Trade Food Covers

60

Trade Gardens

Yes

Trade Patio Areas

No

Trade Rooms to Let

0

Meeting Rooms

No

External Child Play Areas

No

Function Rooms

Yes

Customer Car Park Spaces

20

Current Premises License Opening Hours

Monday-Saturday: 11:00hrs - 00.30hrs
Sunday - 10:00hrs - 23:00hrs

There is no private accommodation with this pub.

Private Rooms

0

Lounge

No

Dining Rooms

0

Double Bedrooms

0

Single Bedrooms

0

Bathrooms

0

Toilets

0

Private Kitchens

0

Offices

0

Bedsits

0

BDM Portrait

LEASE ASSIGNMENT: Rare opportunity to take over this Popular long standing, well established family run business situated on main street Symington. The Wheatsheaf inn has been in the owners family for over 30yrs during which time has built up an excellent reputation for food. The business occupies a 18th century single storey stone built property comprising of 3 main trading spaces; 2 Dining areas; one with service bar and a cosy snug bar with recently invested lounge area. This is a quality business and although trading well would benefit from an active marketing plan to increase awareness and introduce new custom to this beautiful conservation village.

Sandra Donnelly, Business Development Manager

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