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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 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.

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: £15,200

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)

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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