Run a Star Pub - Newmarket Hotel Nottingham - Nottingham

Job Details

Pub Overview

Refurbished heritage pub in Nottingham city centre. The Newmarket offers a great opportunity for someone who wants to take on a well-backed, newly refurbished pub with plenty of potential.

What would you do with this pub to make it even more of a success?

The Area:

The pub benefits from being one of many in Nottingham city centre, with a population of over 329,000 and a significant student base of 62,000 across three universities. The customer base is a broad mix of young, midlife and mature adults, from locals to students and visitors.

Located on Lower Parliament Street, adjacent to the Victoria Centre shopping complex and close to the Lace Market Conservation Area, the Newmarket is easily accessible by foot, bus or tram, benefitting from strong footfall and city centre activity.

The offer:

The Newmarket is available on our investment tenancy agreement. Click here for more information on this agreement.

This is a heritage pub dating back to 1929, being restored to blend traditional design with warm, nostalgic touches and modern features. The refurbishment will deliver a high-end, traditional city centre pub designed to attract a wide customer base - from after-work socialisers and couples on date nights, to students, professionals and tourists. F&F may be rented through discussion with the Business Development Manager subject to approval.

We’re always open to new ideas, what would you do to drive trade?

If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring.

The right operator for the Newmarket will have extensive experience in high street hospitality businesses. They will have a clear vision for their drinks, entertainment and atmosphere and can create a memorable experience for their customers.

If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter...

Features

• Investment Tenancy
  
• Refurbishment Planned
  
• Music Venue
  
• Outdoor Trade
  
• Private Accommodation
  

Trading Area & Facilities

The Newmarket will be undergoing a refurbishment which will cover the full internal and external areas of the pub.

A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.

The pub’s trading area and facilities post refurbishment will be:

• Main trading area with bar
• Entertainment and live music areas
• HEINEKEN SmartDispense®
• Garden space
• Private accommodation

Applicants should 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, an "Investment Exemption" will be required. The exemption 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, as per The Pub Code (2016).

Private Accommodation

Private accommodation consists of three double bedrooms, living room, kitchen and bathroom.

Pub Financials

Pub Financials Icon
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.

Indicative entry costs

£51,438

Annual

Estimated Annual Turnover

£539,248

Annual Rent

£39,750

Entry Costs

Deposit

£9,938

Estimated Fixtures & Fittings Value

£28,000

Stock Valuation

£10,000

Working Capital Required

£3,500

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.

Downloads

• Demographics Report Download arrow
• Energy Performance Certificate Download arrow
• Refurbishment Details Download arrow