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Cannon, Wellingborough

Wellingborough, NN8 4DJ

Your investment

£12,000

Agreement Type

Tenancy
Recently refurbished the pub is just on the edge of Wellingborough town centre, and very close to bo...

Recently refurbished the pub is just on the edge of Wellingborough town centre, and very close to bookmakers, various food outlets and convenience stores. It is also within reach of town centre shopping and food/drink outlets. The pub is in great condition, having had an investment completed in May 2021, and a follow-up investment into the garden a little later. New signage and outside lighting have been added and the pub looks great from the outside….it is a little gem waiting to be polished.

Pub Layout

The business has 2 main trade spaces internally, with a pool and darts area on the left-hand side of the pub, and the main bar area with the servery on the right-hand side.  There are approx 50 seats overall internally. Outside, the pub has covered booths and approx 30 seats in the paved garden.

This is a community local pub, on the edge of the town centre circuit, and can pick up business from multiple customer occasions. Wet only (no food), this pub will look after the mature clientele in the daytime with good value offers, blue-collar workers in the early afternoon, sports enthusiasts both watching on TV and playing traditional pub sports of pool and darts, plus also be a great place to visit on the way to a big night out in town (when this is allowed!).

Private Accommodation

There is generous sized living accommodation above the pub, consisting of a Lounge, 3 bedrooms, Kitchen, Laundry Room, and toilet/bathroom. Accessed from the pub, the tenant accommodation has been refurbished to a good standard in the last 12 months.

Annual Rent: £20,200

Security Deposit: £5,000

Working Capital: £4,000

Stock: £3,000

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.

You will need to be a skilled people person to fill each day-part and have a plan to attract the maximum possible custom. We are looking for a real self-starter that has the drive to really push this pub into the forefront of its community and surroundings. You must be a people person, be able to hold an audience, and love to be creative with how you do things, and how you engage and facilitate custom. Ideally you will have experience running a pub in the town centre or community before, and be able to demonstrate your credentials for this exciting opportunity. You will be good at marketing, happy to promote the business through social media, and networking yourself into the local area and community.

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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