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Buckingham Inn, Buckingham

Buckinghamshire, MK18 1JX

Your investment

£12,000

Agreement Type

Tenancy
  • Refurbishment planned, which will create strong kerb appeal
  • Prominent location in Buckingham Town Centre
  • Fantastic opportunity to re-launch this business

The Buckingham Inn, a historic establishment with a 100-year legacy, is prominently situated in the vibrant market town of Buckingham. This three-story building boasts a spacious trading area on the ground floor, making it ideal for a bustling pub environment. With over 5,400 households within a one-mile radius, the pub has a substantial local customer base. The primary demographics in the area include “comfortable communities” and “affluent achievers,” indicating a market with disposable income and a propensity for socialising in quality venues. The Buckingham Inn has been closed since July 2023, presenting a unique and exciting opportunity for a new licensee to revive and transform this iconic location. With its rich history and prime location, there is enormous potential to create a thriving pub, establishing it as the go-to destination in Buckingham.

Pub Layout

The pub has an open plan trading area, with a lower level on entering the pub, stepping up to a high level at the rear, with the bar situated on the left hand side. The toilets are located at the rear of the pub. A dumb waiter is located in the trading area, to enable delivery of food dishes, cooked in the first floor large commercial kitchen. The décor and fixtures & fittings throughout are in good condition.

The pub has been closed since July 2023, prior to closing, the pub traded with a craft ale/lager offer, with a smokehouse style food menu. There is huge potential to relaunch this business and boasts an exciting opportunity for a new licensee to re-launch what was a great pub, with a focused marketing strategy, a refreshed menu and a variety of entertainment options,  Building on its previous strengths whilst introducing new elements will help attract and retain a diverse customer base. Subject to board approval, Admiral’s investment in this magnificent site has the potential to transform it into a thriving pub once again. With a strategic focus on infrastructure, menu development, marketing, and entertainment, the pub can successfully rebuild its wet and food trade, attract a loyal customer base, and become a standout destination in the area.

Private Accommodation

The accommodation consists of one bedroom, kitchen, bathroom and lounge and this will form part of the refurbishment plans.

Annual Rent: TBC

Security Deposit: £5,000

Working Capital: £3,000

Stock: £4,000

Fixtures and Fittings: To be confirmed upon valuation –  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.

A strong craft ale/lager drink offer is required to be built, along with premium gins, rums and cocktails with regular craft takeovers. A street food style food offer needs to be launched eg. burgers, wings, pizza, fried chicken, pies, tacos, to complement the craft drinks offer. Both the drink and food offers need a point of difference to the competitors. Entertainment is key such as live music, DJs, vinyl evenings, open mic, quiz, sip & paint and stitch n bitch. The ideal licensee needs to have a good foundation in food and catering, with a strong vision and understanding of the needs of the local marketing. The ideal licensee will know the area and have the skills to market, promote and launch the wet offer, food offer and entertainment. Pride, passion, personality, an eye for detail, focus on great standards and customer service are a few of the key skills that I’m looking for in a potential licensee.

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.  Please note, this only applies to pubs marked with an Asterix *


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