8-12 High Street, Saffron Walden, Essex, CB10 1AZ
Great opportunity to run a boutique hotel with a wedding licence situated in an historic market town, located within easy distance of Stansted Airport, Newmarket and Cambridge.
This well presented 16th Century coaching inn is situated in the heart of Saffron Walden. Popular with locals, the restaurant and bar have been tastefully modernised in a bistro style whilst retaining wooden features including the floors, bar and beams. There are 16 en-suite bedrooms (including 2 feature rooms and one four-poster room) and the spacious function room can hold up to 80 people for a reception and up to 50 for conferences. Room occupancy is strong, and demand is increasing in this area.
The hotel consists of 16 letting rooms (14 double/twin and 2 single), 2 bars and coffee bar, a 30 cover restaurant and function room with its own bar for 80 people. There is also a catering kitchen, store room, laundry room, toilets and underground cellar consisting of 4 rooms. Externally there is a patio area ideal for alfresco dining. Although there is only a small on site car park, there is plenty of parking available from 6pm until 8am outside the hotel and the town long stay car park is a 5 minute walk from the hotel.
|Car park spaces||5|
|Rooms to let||16|
There is a managers (owners) flat plus a further 3 staff bedrooms with a shared bathroom. The flat consists of 2 double bedrooms, lounge, private kitchen, bathroom and office.
|Annual rent||£69,000 per annum plus 6% Turnover Royalty|
£69,000 per annum, £1,326.92 per week fixed and subject to annual RPI increase, which is capped. Turnover royalty percentage calculated and charged weekly as long side fixed rent. Paid weekly by direct debit subject to credit check. Machine income free of tie.
Entry costs approx £35,975 which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of conditions, working capital and deposit (25% of head rent, minimum £6,000). Please note Fixtures and Fixings are still to be valued.
|Fixtures & fittings||TBC||Working capital||£10,000|
|Other costs||£5,350||Total entry cost||£35,975|
Our Turnover Agreement reflects how your business performs. You pay a fixed rent plus a percentage of your weekly net turnover sales.
• A 5 year, fixed term agreement, contracted out of the Landlord and Tenant Act 1954.
• Basic rent plus a Turnover Royalty percentage.
• Basic rent subject to capped annual changes in the Retail Price Index (RPI) only with no rent reviews.
• Flexible tie variations available.
• Discounted price list unique to the Turnover Agreement.
• Greene King is responsible for the structure of the building.
• Ability to end agreement with 6 months’ notice and payment of a Standard Notice Fee (3 months’ basic rent). Notice can be served
at any time.
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.
Calculators to help you are available on the business planning section of our website.
|Year||Beer (Brls)||Wine & spirits (Ltrs)||Minerals (Ltrs)|
|Volume notes||This site is free of tie for wines & spirits.|
Situated on the main high street of Saffron Walden, within easy reach of London, Stansted, Newmarket and Cambridge, the Saffron Hotel is in the ideal location. Saffron Walden is an idyllic market town filled with antique shops, book shops and other unique stores. The local schools have very good reputations and it is a very affluent area. Audley End, England's largest Jacobean mansion is on the doorstep and the beautiful university town of Cambridge is just 12 miles away. The Imperial War Museum at Duxford and the racing town of Newmarket are also within driving distance.