Easby Road, Washington, Tyne and Wear, NE38 7NN
Entrepreneurs wanted in Washington! If you’re local to Washington, Tyne and Wear, and are looking for a great investment opportunity, Sandpiper could be for you. Even better if you know the site already and the village of Biddick.
This pub is earmarked for investment and we’re looking the right operator to do that investment with. We think it needs to be someone who knows the area well, understands the opportunity and the local market, and wants to create a profitable business for themselves.
Major refurbishment planned - TBC
|Car park spaces||20|
The accommodation is located under the pub, to the rear and comprises of 3 adequately sized bedrooms, large living room and spacious kitchen/dining area.
|Annual rent||£24,000 per annum plus 7.0% Turnover Royalty|
£24,000 per annum, £461.54 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit.
Entry costs approx. £20,100 which includes Fixtures and Fittings, stock, glassware, crockery, cutlery, fuel, cleaning materials, legal, brokers and stocktaking fees, training fees, Schedule of Condition, working capital and deposit. *Deposit amount to be valued. Please note that the F&F costs are shown as a 25% deposit and full cost is approx. £13,000.
|Fixtures & fittings||£3,250||Working capital||£2,000|
|Other costs||£7,200||Total entry cost||£20,100|
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.
Information on Turnover Agreement:
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)|
Washington is a town in the City of Sunderland, Tyne and Wear and part of historic County Durham. Washington is located geographically at an equal distance from the centres of Newcastle, Durham and Sunderland, hence it has close ties to all three cities.