The New Inn, 3-7 Avenue End Road, Millerston, Glasgow G53 6ND
130 St Vincent Street, Glasgow G2 5HF Tel: 0141 204 3838 Fax: 0141 204 3554
To Let Licensed Business
The New Inn, 3-7 Avenue End Road, Millerston, Glasgow G53 6ND
Proposed comprehensive refurbishment planned Main road frontage on A80 Cumbernauld Road Excellent potential to build a successful and profitable business Annual rental—£26,000 + VAT
Edinburgh 0131 225 6612
Glasgow 0141 204 3838
Aberdeen 01224 58866
Viewing strictly by appointment with letting agents. Contact: Andrew MacPherson 07785 951090 [email protected] Douglas Lambie 07970 0792642 [email protected]
Leeds 0113 243 6777
Dundee 01382 227900
The Opportunity Punch is looking to identify a suitable tenant for the New Inn which offers an excellent business opportunity The property has prominent main road frontage on the A80 Cumbernauld Road, with a catchment population of 25,000 blue collar adults within a 1.5 mile radius. A complete refurbishment of the property is planned to take advantage of the undoubted business opportunity. The New Inn requires an experienced operator who can carry on, improve and develop the business opportunity after the planned comprehensive refurbishment. In this regard, Punch Taverns have proposals to re-clad the exterior walls, provide new external signage and lighting and revamp the beer garden with new decking and new garden furniture. Internally, the refurbishment will create one large customer trading area from the existing public and lounge bars served by a single wrap around bar gantry. The trading area will have new fixed seating, new lighting, new floor coverings and a raised entertainment area. The ladies, gents and disabled toilets are to be upgraded as is the commercial kitchen. The proposed refurbishment will also include comprehensive internal and external redecoration. Location The property has excellent roadside frontage on the main A80 Cumbernauld Road within Millerston, approximately 7 miles north east of Glasgow City Centre. Within a 1.5 mile radius, there is a catchment population of over 25,000 adults. Nearby facilities in Millerston include a bookmakers, Post Office, convenience store and two hot food takeaways. Description The New Inn is a single storey detached building under a flat roof. Currently, the outlet comprises two rooms, a traditional public bar and lounge, the latter used for private parties and entertainment nights. Externally, there is a small beer garden to the front with a rear car park which can accommodate 8 vehicles. The proposal is to convert the two room operation into one customer trading area with a new wrap-around bar gantry and back bar, with the trading area a mix of new fixed seating and loose furniture with an emphasis on providing entertainment, televised sport and also pool and darts. The ladies, gents and disabled toilets will all be upgraded, as will the trade kitchen which will be able to provide basic pub
food although we envisage that post refurbishment, the outlet will remain very wet led with the ability to attract more customers from the large catchment population of 25,000, predominantly blue collar workers within a 1.5 mile radius. Rating We have been informed by the local Assessors Department that the premises are described as a Public House and have a currently rateable value of £25,300 (effective from 1 April 2010). Trading Information Punch estimates that having regard to previous trade, the fair maintainable volume should be in the region of 290 barrels per annum. This is the number of tied barrels of ale, lager and cider Punch estimate you will buy from them at your agreed discount. Note: 1 barrel = 36 gallons (288 pints) The Turnover Potential is assessed as follows: Liquor Sales
£324,597
Food Sales
£10,833
Other
£3,250
Total
£338,680
The Tenant’s profit potential is assessed at £30,229 per annum. This is Punch’s estimate of the potential operating profit of the business. More information on the breakdown of this estimated trade and recent barrelage history can be provided on request. This financial information is provided to help you make the right decision about going into partnership with Punch and running your own pub. You may believe you could be better or worse than the Punch estimates. Please note that the information here is given for illustrative purposes and you should not rely on it to make your decision. You must make your own assessment of the trading potential of the business and take independent professional advice in order to create your own business plan.
Licence We understand from Punch that The New Inn holds a current Premises Licence and further information is available upon request. Agreement Terms and Rent Punch Foundation Tenancy is available for this business opportunity. This is a short term up to five year agreement, with either party able to give six month’s notice. Tenants are not allowed to transfer or sell the business. The repairing obligation is internal repairing only. The level of rent assessed for this property is £26,000 per annum plus VAT and is payable weekly in advance. In addition to the rent, the tenant will pay into a Repair Fund Contribution of £40 per week. Whilst this Repair Fund is held by Punch, the contributions are owned by the Tenant and are drawn upon by the Tenant to carry out internal repairs and decoration as and when required. The agreement has a full tie for all wet products and the Tenant will receive a discount of £125-£135 per barrel depending on sales mix. Ingoing Investment Costs When you take on a Punch pub, you will need to provide a deposit and pay for the fixtures and fittings and legal fees. In some circumstances and for some pubs, Punch may be able to help you out with your payments for fixtures and fittings and your deposit, subject to application and approval. Please enquire about this when you apply for your Punch tenancy.
Punch estimate the initial investment will need to make to take on this pub will be £16,335 (as detailed below). The value of fixtures and fittings represent 25% of the cost and the remainder is subject to sales agreement, payable over an agreed period of time. Deposit
£6,500
Fixtures & Fittings
£9,485
Minimum Legal Fees
£350
Total
£16,335
Please Note: this does not include your rent and additional funds for stock and glassware, Stamp Duty Land Tax, training and working capital will be required. Legal Costs Each party will be responsible for their own legal costs incurred with any ingoing tenant being responsible for any registration dues, Stamp Duty and VAT as applicable. Energy Performance Certificate The EPC Rating = G Viewing& Further Information The premises are still occupied, viewing is strictly by appointment through the dole leasing agents Douglas Lambie 07909 092642 [email protected] Andrew MacPherson 07785 951090 [email protected] Date of Publication—September 2016
Please note that the photographs are for illustrative purposes only and are designed to show the quality of the interior after the refurbishment.
To Let Licensed Business
The New Inn, 3-7 Avenue End Road, Millerston, Glasgow G53 6ND
Proposed comprehensive refurbishment planned Main road frontage on A80 Cumbernauld Road Excellent potential to build a successful and profitable business Annual rental—£26,000 + VAT
Edinburgh 0131 225 6612
Glasgow 0141 204 3838
Aberdeen 01224 58866
Viewing strictly by appointment with letting agents. Contact: Andrew MacPherson 07785 951090 [email protected] Douglas Lambie 07970 0792642 [email protected]
Leeds 0113 243 6777
Dundee 01382 227900
The Opportunity Punch is looking to identify a suitable tenant for the New Inn which offers an excellent business opportunity The property has prominent main road frontage on the A80 Cumbernauld Road, with a catchment population of 25,000 blue collar adults within a 1.5 mile radius. A complete refurbishment of the property is planned to take advantage of the undoubted business opportunity. The New Inn requires an experienced operator who can carry on, improve and develop the business opportunity after the planned comprehensive refurbishment. In this regard, Punch Taverns have proposals to re-clad the exterior walls, provide new external signage and lighting and revamp the beer garden with new decking and new garden furniture. Internally, the refurbishment will create one large customer trading area from the existing public and lounge bars served by a single wrap around bar gantry. The trading area will have new fixed seating, new lighting, new floor coverings and a raised entertainment area. The ladies, gents and disabled toilets are to be upgraded as is the commercial kitchen. The proposed refurbishment will also include comprehensive internal and external redecoration. Location The property has excellent roadside frontage on the main A80 Cumbernauld Road within Millerston, approximately 7 miles north east of Glasgow City Centre. Within a 1.5 mile radius, there is a catchment population of over 25,000 adults. Nearby facilities in Millerston include a bookmakers, Post Office, convenience store and two hot food takeaways. Description The New Inn is a single storey detached building under a flat roof. Currently, the outlet comprises two rooms, a traditional public bar and lounge, the latter used for private parties and entertainment nights. Externally, there is a small beer garden to the front with a rear car park which can accommodate 8 vehicles. The proposal is to convert the two room operation into one customer trading area with a new wrap-around bar gantry and back bar, with the trading area a mix of new fixed seating and loose furniture with an emphasis on providing entertainment, televised sport and also pool and darts. The ladies, gents and disabled toilets will all be upgraded, as will the trade kitchen which will be able to provide basic pub
food although we envisage that post refurbishment, the outlet will remain very wet led with the ability to attract more customers from the large catchment population of 25,000, predominantly blue collar workers within a 1.5 mile radius. Rating We have been informed by the local Assessors Department that the premises are described as a Public House and have a currently rateable value of £25,300 (effective from 1 April 2010). Trading Information Punch estimates that having regard to previous trade, the fair maintainable volume should be in the region of 290 barrels per annum. This is the number of tied barrels of ale, lager and cider Punch estimate you will buy from them at your agreed discount. Note: 1 barrel = 36 gallons (288 pints) The Turnover Potential is assessed as follows: Liquor Sales
£324,597
Food Sales
£10,833
Other
£3,250
Total
£338,680
The Tenant’s profit potential is assessed at £30,229 per annum. This is Punch’s estimate of the potential operating profit of the business. More information on the breakdown of this estimated trade and recent barrelage history can be provided on request. This financial information is provided to help you make the right decision about going into partnership with Punch and running your own pub. You may believe you could be better or worse than the Punch estimates. Please note that the information here is given for illustrative purposes and you should not rely on it to make your decision. You must make your own assessment of the trading potential of the business and take independent professional advice in order to create your own business plan.
Licence We understand from Punch that The New Inn holds a current Premises Licence and further information is available upon request. Agreement Terms and Rent Punch Foundation Tenancy is available for this business opportunity. This is a short term up to five year agreement, with either party able to give six month’s notice. Tenants are not allowed to transfer or sell the business. The repairing obligation is internal repairing only. The level of rent assessed for this property is £26,000 per annum plus VAT and is payable weekly in advance. In addition to the rent, the tenant will pay into a Repair Fund Contribution of £40 per week. Whilst this Repair Fund is held by Punch, the contributions are owned by the Tenant and are drawn upon by the Tenant to carry out internal repairs and decoration as and when required. The agreement has a full tie for all wet products and the Tenant will receive a discount of £125-£135 per barrel depending on sales mix. Ingoing Investment Costs When you take on a Punch pub, you will need to provide a deposit and pay for the fixtures and fittings and legal fees. In some circumstances and for some pubs, Punch may be able to help you out with your payments for fixtures and fittings and your deposit, subject to application and approval. Please enquire about this when you apply for your Punch tenancy.
Punch estimate the initial investment will need to make to take on this pub will be £16,335 (as detailed below). The value of fixtures and fittings represent 25% of the cost and the remainder is subject to sales agreement, payable over an agreed period of time. Deposit
£6,500
Fixtures & Fittings
£9,485
Minimum Legal Fees
£350
Total
£16,335
Please Note: this does not include your rent and additional funds for stock and glassware, Stamp Duty Land Tax, training and working capital will be required. Legal Costs Each party will be responsible for their own legal costs incurred with any ingoing tenant being responsible for any registration dues, Stamp Duty and VAT as applicable. Energy Performance Certificate The EPC Rating = G Viewing& Further Information The premises are still occupied, viewing is strictly by appointment through the dole leasing agents Douglas Lambie 07909 092642 [email protected] Andrew MacPherson 07785 951090 [email protected] Date of Publication—September 2016
Please note that the photographs are for illustrative purposes only and are designed to show the quality of the interior after the refurbishment.
