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Black Horse Hotel, Preston

Preston, PR5 0ED

Your investment

£12,000

Agreement Type

Tenancy
  • Country pub in a village location with a strong customer base
  • Potential investment with the right licensee
  • Scope to improve the food offering.

 

The Black Horse is an imposing three storey detached pub situated in the heart of the affluent village of Gregson Lane which is approximately five miles South East of Preston and around two and a half miles East of the larger village of Bamber Bridge. Situated in the constituency of South Ribble, Gregson Lane has a population of around 1,500 residents but the pub can draw upon rural housing in the surrounding area as well of which there are many. The village’s household demographic is classed as ‘comfortable communities’ and ‘affluent achievers’ and has a higher proportion of middle to older generation with a greater disposable income than the UK average. The Black Horse takes pride of place as the only pub in the village with the only competition being a social club called Net’s Bar across the road.

Pub Layout

Customers can enter via the main double doors at the front of the pub or via the side entrance coming from the ten spaced car park and beer garden to the left of the pub. Customers from the front entrance are welcomed by a central bar stocking a great selection of choice wines, quality spirits, continental and craft beers and lagers and two fine cask ales on rotation. To the left hand side the lounge area consists of a range of fixed and loose seating and then steps up to the rear of the trade area provide a raised seating area, currently used to provide room for a darts throw. This is also where customers can exit to the car park and the side beer garden, providing enough seating for approximately 40 customers, but there are considerations to invest in the beer garden to increase seating to nearer 80. To the right-hand side of the pub is the pool table surrounded by fixed seating and again to the rear there is further raised seating. The pub currently has around 50 covers but with the right licensee and an investment this could be increased to around 80 covers. There is a fully kitted out and compliant trade kitchen to the rear left hand-side of the pub, capable of serving the capacity of the trade area

The Black Horse is a currently trading as wet only but can and has previously quite successfully traded on a more 70/30 wet to dry split. The food aspect of the business is an important one, as whilst it would not likely be a pub customers would necessarily drive out distances to, it can and should cater for the population of Gregson Lane and the surrounding areas, along with walkers enjoying the surrounding countryside. The pub has previously had a loyal regulars customer base, particularly for afterwork drinks and for catching up with friends. There is live music on weekend evenings along with televised football during the day. During the week, pool and darts teams create a thriving atmosphere and a well-supported quiz night brings out the competitive locals, wanting to show off their knowledge.  In the warmer months customers flock to the beer garden at the back of the car park to soak up the rays and enjoy drinks with family and friends.

Private Accommodation

The private accommodation is on the second floor of the pub and comprises of a kitchen, bathroom, three bedrooms and a lounge/dining area.

Annual Rent: £25,000 

Security Deposit: £5,000

Working Capital: £3,000

Stock: £4,000

F&F: £TBC – Funding options may be 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.

Admiral Taverns are looking for a licensee who can bring a new lease of life to the Black Horse. Engaging with the local community to put the Black Horse at the heart of the community is essential here. A warm and friendly welcome and an ability deliver a community focussed offer is essential to making the business thrive. The customers need to feel valued and loyal to the business so a regular and well-marketed line up of events and activities is essential. A well-considered and consistent rhythm of the week will bring in regular custom and will make the Black Horse, the place to be in the village on an evening.  Great standards and quality drinks go alongside a warm welcome and retail proposition to ensure customers have a great time and choose the Black Horse as their go to pub. There is a significant opportunity to grow and develop the retail proposition here, driving additional income by maximising the potential of the beer garden and the food offer. A transformational investment would be considered here with the right licensee and a well-considered business plan, with particular focus on improving the beer garden and external appeal, and internal décor.

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). On occasion, our Business Development Manager will discuss a start up rent which is discretionary to an individual pub and can be discussed.

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.  Our standard deposit is 25% of the headline rent.  On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long term agreement.

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.

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 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme.  Held online over three days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost – £60.89 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you piece of mind about your boiler and cellar cooling repair and replacement.  This also includes full access to e-learning for you and your staff.

*Zero Business Rates – Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.


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