- Recruiter
- Star Pubs & Bars Leased & Tenancy
- Location
- Salvington Road, Durrington, Worthing, BN13 2JR
- Salary
- To be discussed
- Ref
- 264965829
- Starts
- Closes
Pub Overview
Complete refurbishment planned
A well-finished refurbishment will transform the Park View into a great pub in the community with great food. Will also be extending the trading area to create more occasions for people to enjoy what the pub has to offer. The Park View will increase seating capacity by 36 covers through a rear extension. To supportthe increased trade, the trade kitchen will receive works to improve capacity.
Seaside town location
The Park View is located in Worthing, a seaside town of East Sussex. Worthing is located at the foot of the South Downs and 10 miles west of Brighton. There are over 5,000 adults within a 10-minute walk of the Park View with 80% medium to high affluence, with only one other pub in this area. This gives it a great local catchment.
A pub business with bags of potential
The Park View will operate as an excellent venue for the people of Worthing and neighbouring towns once refurbished. The planned investment will allow us to fully re-decorate the pub and give the ample passing trade a reason to visit. These changes as well as the fabulous outdoor space, will give the pub the ability to appeal to a broad spectrum of consumers who want to meet friends for a drink or to enjoy a lovely meal. This pub has bags of potential. All we are looking for is the right operator.
Target Customers
When refurbished, the Park View will appeal to a very broad spectrum of customers, including:
A broad range of customers, from families with children to couples enjoying a mid-week treat
Singles coming for a drink and meal after work
Offer
When refurbished, the Park View will offer:
Premium drinks range, from Amstel to craft beer offering such as Beavertown and Brixton
Traditional pub food at a high standard
Coffee and Wi-Fi
Entertainment as part of the rhythm of the week
Features
Trading Area & Facilities
The Park View will benefit from a full refurbishment with works being done both internally and externally. For a full summary of planned works, please review the 'Refurbishment Details' in the downloads section.
Please be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process. Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. This means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site. This applies to all pubs in England & Wales as per The Pub Code (2016) .
Private Accommodation
This site has private accommodation.
Pub Financials
Annual Rent £
60,000
Estimated Annual Turnover £
775,361
Deposit £
15,000
Estimated Fixtures & Fittings Value £
47,641
Estimated Stock Valuation £
12,500
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
78,641
Estimated Minimum Ingoing Costs £
78,641
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Complete refurbishment planned
A well-finished refurbishment will transform the Park View into a great pub in the community with great food. Will also be extending the trading area to create more occasions for people to enjoy what the pub has to offer. The Park View will increase seating capacity by 36 covers through a rear extension. To supportthe increased trade, the trade kitchen will receive works to improve capacity.
Seaside town location
The Park View is located in Worthing, a seaside town of East Sussex. Worthing is located at the foot of the South Downs and 10 miles west of Brighton. There are over 5,000 adults within a 10-minute walk of the Park View with 80% medium to high affluence, with only one other pub in this area. This gives it a great local catchment.
A pub business with bags of potential
The Park View will operate as an excellent venue for the people of Worthing and neighbouring towns once refurbished. The planned investment will allow us to fully re-decorate the pub and give the ample passing trade a reason to visit. These changes as well as the fabulous outdoor space, will give the pub the ability to appeal to a broad spectrum of consumers who want to meet friends for a drink or to enjoy a lovely meal. This pub has bags of potential. All we are looking for is the right operator.
Target Customers
When refurbished, the Park View will appeal to a very broad spectrum of customers, including:
A broad range of customers, from families with children to couples enjoying a mid-week treat
Singles coming for a drink and meal after work
Offer
When refurbished, the Park View will offer:
Premium drinks range, from Amstel to craft beer offering such as Beavertown and Brixton
Traditional pub food at a high standard
Coffee and Wi-Fi
Entertainment as part of the rhythm of the week
Features
- Catering Kitchen
- Investment Tenancy
- Outdoor Trade
- Private Accommodation
Trading Area & Facilities
The Park View will benefit from a full refurbishment with works being done both internally and externally. For a full summary of planned works, please review the 'Refurbishment Details' in the downloads section.
Please be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process. Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. This means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site. This applies to all pubs in England & Wales as per The Pub Code (2016) .
Private Accommodation
This site has private accommodation.
Pub Financials
Annual Rent £
60,000
Estimated Annual Turnover £
775,361
Deposit £
15,000
Estimated Fixtures & Fittings Value £
47,641
Estimated Stock Valuation £
12,500
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
78,641
Estimated Minimum Ingoing Costs £
78,641
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Similar searches: Pubs and Bars, Worthing