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Chequers, Great Tey

Colchester, CO6 1JS

Your investment

£11,000

Agreement Type

Tenancy
Great Tey is a beautiful village set in the fantastic countryside between Chelmsford and Colchester....

Great Tey is a beautiful village set in the fantastic countryside between Chelmsford and Colchester. The village has a strong community feel and thriving business services. There are many local beauty spots and the pub, church and primary school all work together to form the heart of this busy, well-supported community. The Chequers is centrally located in the village, next to the Church.

Pub Layout

Internally there are two bar trading areas as well as a forty cover restaurant/dining room. The site boasts a fully equipped trade kitchen that confidently caters for the forty covers on offer at this site. In the bar, there are pool and darts on offer, and in the lounge, there is space to enjoy a quieter drink by the open fire. Externally the pub has patio seating to the front with capacity for a potential fifty customers. The car park is located to the rear with capacity for 20 cars. Adjacent to the car park is a lovely sheltered beer garden where customers can enjoy a relaxing drink in the warmer weather.

The Chequers is a destination village pub that has a very good reputation for the quality of the food served and the service given by the current partner. The pub plays a full part in the village life of Great Tey acting as the hub for many events and social occasions. This site offers something for everyone and should look to continue supporting the local community as well as attracting visitors to this stunning part of the world.

Private Accommodation

The private accommodation consists of two double bedrooms, a lounge and bathroom for the publican’s use.

Annual Rent: £22,250

Security Deposit: £5,000

Working Capital: £3,000

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.

The successful applicant will have to commit to the pub’s well-established reputation whilst also bringing their own personality to the pub. It will be vital that they keep the offer fresh and build upon the foundations already in place. Strong knowledge of cask ales and fine wines will go a long way at this site alongside the ability to provide a fresh, locally sourced menu for customers old and new.

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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