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Albion, Thetford

Thetford, IP24 2DN

Your investment

£10,000

Agreement Type

Tenancy

The Albion pub is located a short walk from the centre of the bustling market town of Thetford with a population of 24,000 people. Thetford has excellent transport links with the recent duelling of the A11.  The Albion is a busy, highly regarded, profitable pub ready to be taken to the next level and there is plenty to get excited about.

The Albion pub is located a short walk from the centre of the bustling market town of Thetford with a population of 24,000 people. Thetford has excellent transport links with the recent duelling of the A11.  The Albion is a busy, highly regarded, profitable pub ready to be taken to the next level and there is plenty to get excited about.

Pub Layout

The pub has a cosy environment with open fire and currently offers a wide selection of draught products including cask ales. Traditional and homely in feel, there is a clear opportunity for the right operator to put their stamp on the pub.  There is currently no food offer with local competition focusing on value-led offers, presenting an opportunity for a mid-market offer. The pub boasts a fantastic games area complete with darts board and pool table. Outside retail space consists of a popular gated area to the front of the pub and beautiful courtyard garden to the rear. Directly opposite the pub is the historic Castle Park with children’s play area. Free parking is available opposite the pub and directly on the street.

The current trading style of the business is that of a classic community pub; it is envisaged that this style of trading would continue and would be developed to keep it ahead of the game. There is a large area of unused land to the rear of the pub which could be developed to lend itself perfectly to hosting family fun days, Ale and cider festivals and an additional income stream could easily be achieved by promoting the external retail space.

Private Accommodation

The private accommodation consists of three bedrooms located above the pub and in good order.

Annual Rent: £20,135

Security Deposit: £5,000

Working Capital: £2,000

Fixtures and Fittings: Upon Valuation  – funding options available for the right licensee.

Tie:  All drinks categories are tied.  For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

Training: £325 plus VAT

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

 

The pub will continue to thrive under the direction of a sound operator who understands that character, quality and service are the core values that make this kind of business a success. The pub would suit an entrepreneurial couple or individual who has experience in identifying and exploiting the business potential of this type of pub. They must share the owning pub company’s vision to develop and grow the business. The ideal licensee needs to be passionate about quality beers and ales and possess exceptional customer service and engagement skills along with fantastic standards that will be key in moving this already successful beautiful pub onto the next level. Previous experience of operating a high volume pub would be preferred but not essential.  Knowledge of cask ale management is a must.

Annual Rent – This is our lowest rent figure associated with a Full Tie.  If the tie is reduced the effective rent (via Tie Release Fees) will increase.  Rent is billed and paid for weekly in advance depending on the payment terms agreed)

Security Deposit – This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property

Working Capital – This is a recommend amount required which will be used in the day-to-day running of the business

Stock – This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, any unopened / opened kegs and cask ale providing the container is unopened

Fixtures & Fittings – This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free standing or hung by a nail or hook. This will also include furniture

Training – This is required when taking on a Business Support Agreement.  Included is an e-learning package for you and your staff and attendance to our ‘Set Up To Succeed’ workshop held at our Head Office in Chester.  Please note, you will be required to attend this workshop before signing a long term tenancy agreement.

Service Charge Cost – £28.01 per week – This is a weekly charge that includes statutory compliance certification (including Annual CP12 and CP42 gas test), cellar cooling services (including full insurance to cover repairs and / or replacements), Health & Safety Essentials (including assessments) and Licensing Support.


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