25 Warwick Street, Worthing, West Sussex, BN11 3DQ
There is a huge opportunity to drive food and drink sales at The Warwick , in conjunction with the re-launch of the business, following transformational investment in the property . The offer will be 'premiumised ' with live sports and entertainment at the heart but with food, coffee and premium drinks key to the retail proposition.
The Warwick Arms is a prominent town centre public house in the heart of the commercial and retail district of Worthing. The operator will have a huge opportunity to develop both wet and dry sales, following the transformational investment scheme at the Warwick Arms.
The pub is in close proximity to the beach and Worthing pier and surrounded by retail and commercial buildings. The Town centre is undergoing substantial investment and the pub is well placed to capitalise on this going forward. The offer is predominantly wet - led and there is a strong sports following, with football being popular. The Warwick Arms is the leading pub in Worthing for screening live sports and additionally live entertainment on Friday and Saturday nights. Entertainment is key to the success of this business and we will need an operator who can carry on the reputation this pub has. There is an opportunity to further develop the trade and to premiumize the retail offer through investment. Food can also be developed in conjunction with the re-launch of the business.
The trade area consists of a large central bar servary dominates the trade area, with a separate dining area for circa 40 covers. Additionally, there is a dance floor with a DJ Booth. Furthermore, there is a well equipped catering kitchen.
The private accommodation consist of 2 bedrooms , a lounge ,a kitchen , a bathroom, and an office.
|Annual rent||£58,000 per annum plus 9.5% Turnover Royalty|
£58,000.00 per annum, £1,115.39 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit.
Entry costs approx £35,800.00 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).
|Fixtures & fittings||£20,000||Working capital||£5,000|
|Other costs||£3,150||Total entry cost||£35,800|
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||Please note, this site was not tied to wines, spirits and minerals on past agreements.|
The Warwick Arms is located on Warwick Street , the main pedestrianised street , in the heart of Worthing Town Centre. It is surrounded by commercial and retail outlets and is a 2 minute walk from the beach and Worthing Pier.