Job Title

Pub Overview The Royal Oak is a well-known & loved community pub in Bognor Regis. What would you do with this pub to make it even more of a success? The Area:The Royal Oak is in the town of North Bersted, within Bognor Regis, about a mile from the sea front. The pub is surrounded by roads. Demographics:The pub benefits from being one of two pubs found in an area of around 5,379 adults. The customer base is made up of mostly mid-life to older customers of medium affluence. The Offer:Available on our foundation tenancy agreement. The potential of this pub lies in maintaining its strong wet let trade and community spirit. There is scope to develop the food offer. The site is well connected to local dart and rugby teams and involved in charity events for the community. 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 pub will have extensive experience in a community-led pub business. They will have a clear vision for their food & drinks menu and be actively involved in community events, creating a memorable experience for their customers and community as a whole. FeaturesFoundation Tenancy Catering Kitchen Car Park Outdoor Trade Private Accommodation Trading Area & FacilitiesMain trading area with bar 40 internal covers Small catering kitchen HEINEKEN SmartDispense Small courtyard garden with four benches Car park with 30 spaces Private AccommodationPrivate accommodation consists of two bedrooms and a lounge. Pub FinancialsEstimated Total Ingoing Costs: £31,801 Estimated Minimum Ingoing Costs: £11,600 Annual Rent: £37,202 Estimated Annual Turnover: £407,287 Deposit: £9,301 Estimated Fixtures & Fittings Value: £14,000 Estimated Stock Valuation: £5,000 Estimated Working Capital: £3,500 The above figures are provided as a guide only and will be finalized 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 finalized 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 months' rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 months' 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. DownloadsDemographics Report Download Energy Performance Certificate Download#J-18808-Ljbffr