60 Southam Road, Radford Semele, Leamington Spa, Warwickshire, CV31 1TE
Exciting new tenanted business! The White Lion is being offered for tenancy to experienced applicants to develop an individual business within this affluent village.
A unique opportunity to run this picturesque village pub on the edge of Leamington Spa. If you have experience of a busy food and drink operation and are looking for a fresh challenge, this could be the business for you.
The White Lion is the only pub in the area and is currently trading as a Chef & Brewer restaurant for Greene King’s managed division. As a food-based business, it’s not taking advantage of the unique location and should be repositioned as an upscale pub at the centre of this affluent community. To do that, we need to work with an experienced operator who can bring their own personality to the business. We’re committed to investing in The White Lion, creating more than just a restaurant by introducing a more premium drinks experience and redeveloping this charming listed building. Plans are at early stages, so if you apply now, you can help us shape The White Lion to make the pub into the local meeting place that this village deserves.
Our planned investment in the trading space will create a comfy bar area while retaining a casual dining room. The garden offers great potential and we are working on developing this space to provide an area for relaxed drinks with friends, a place for families to gather and children to play.
|Car park spaces||60|
The accommodation is compact, but does provide flexible space currently used by staff. The pub’s office is located on the first floor, separate to the flat and there is also a staff changing room.
|Annual rent||£60,000 per annum|
|Weekly rent||£1,153.85 per week fixed|
£60,000 per annum, £1,153.85 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit.
Entry costs approx £44,175 which includes 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). *Please note the F&F is shown as a 25% deposit of the full value* Full Value of the existing F+F is £38K* *An assisted purchase agreement for the F+F will be considered for the right applicant*
|Fixtures & fittings||£9,500||Working capital||£10,000|
|Other costs||£8,000||Total entry cost||£44,175|
Standard Tenancy Agreement
A fixed 5 year term agreement which is contracted out of the Landlord and Tenant Act 1954
•Tie variations available
•Rent set at the start of the agreement, subject to the annual Retail Prices Index (RPI) which is capped
•Flexible pricing options available
•Greene King is responsible for the structure of the building
•Ability to end agreement with 6 months notice at any time with standard notice fee equal to 3 months rent
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 business was acquired by Greene King during the financial year 2015/16, so volume figures quoted on represent a partial year|
Radford Semele is around 2 miles outside of Leamington Spa and is a self-contained village. The pub has a large frontage onto the A425 and benefits from a large car park that’s open to the road too – making it perfect for passing trade as well as local residents. Nearby are mostly period, detached houses but there is also an up-market housing area within a stone’s throw of the business. With a high level of home ownership and most people working in managerial and supervisory roles, this represents an affluent potential customer base. Residents are older than the national average and most households have only 1 or 2 occupants, which implies a high number of ‘empty nesters’ looking for a place to spend their money!