Strathaven

6 Waterside Street, Strathaven, Lanarkshire, ML10 6AW

Pub overview

Popular newly refurbished town inn now available to let.

Excellent business opportunity for the multifaceted operator looking for many income streams from the one venue. This pub comes with the full package: 2 flats, bar/ lounge and function suite with large beer garden to the rear of the property. New fitted kitchen capable of delivering substantive food offer.

The pub boasts open plan bar/ lounge, function room and beer garden. A new fitted kitchen was completed December 2016 and has delivered a substantive food offer well received by the locals. This site offers many income streams (food, drink, entertainment, sport, alfresco drinking and dining & private function room). The ideal venue for an experience operator to really leave their mark.

Trade space
Bars 1
Dining rooms 2
Food covers 50
Function rooms 1
Gardens 1
Trade kitchens 1
Rooms to let 2

There are 2 flats with this property; One 2 bedroom and one 1 bedroom (recently upgraded). both flats can be sublet by the tenant to provide another income stream here.

Private space
Private Rooms 11
Lounge 2
Single Bedrooms 1
Double bedrooms 2
Private Kitchen 2
Bathrooms 2
Toilets 2

Rent information

Annual rent £35,000 per annum plus 7% Turnover Royalty
Notes

New Turnover agreement with a base rent of £35,000, £673.08 paid weekly by direct debit subject to credit check.
Turnover royalty of 6.5% subject to annual RPI increase, which is capped.

Entry costs approx £32,935 which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, stocktaking & training fees, working capital and deposit (25% of head rent, minimum £6,000). *Other costs include mandatory 3 day training course at £800 plus PEAT & Safestart modules.* *F&F cost is allowing for 25% down payment on an AP agreement, total F&F is circa 49k to be confirmed.*

Brokers TBC Legal £825
Deposit £8,750 Stocktaking fees £150
Fixtures & fittings £12,250 Working capital £10,000
Other costs £960 Total entry cost £32,935

Agreement description

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.

Trading volumes

Year Beer (Brls) Wine & spirits (Ltrs) Minerals (Ltrs)
2016/17 157 47 1,953
2015/16 116 582 470
2014/15 234 1,554 509
Volume notes

Location

The bar in situated in the centre of the town of Strathaven at the edge of river on Waterside Street. The Town is located on the edge of the valley on the Avon river, around 6 miles from Hamilton & East Kilbride and 18.2 miles from Glasgow. The A71 which connects Edinburgh & Kilmarnock passes through the town. There is a strong provision for public transport within a short walking distance, with bus stops a short walk away serving local & regional destinations. Estimated population is 7,700.

Facilities

Trade bar
Dining area
Function room
Pub garden
Trade kitchen
Letting rooms

Current premises licence opening hours

Monday to Thursday 11:00hrs - 00:00hrs Friday & Saturday 11:00hrs - 01:00hrs Sunday 12:30hrs - 00:00hrs

Contact Us

Sandra Donnelly

Business Development Manager

Call us today 01284 714 497

Apply online
“ Recently refurbished to a high standard this local pub has excellent facilities including bar/ lounge, function suite, beer garden and two flats. A new fully fitted kitchen has been installed at the time of investment capable of a food turnover of 3k+. This pub is to let on a Greene King turnover agreement. ”