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Cherry Gardens, Wigan

Wigan, WN1 2NT

Your investment

£20,000 - Post Capex

Agreement Type

Tenancy
  • Planned External and Internal Investment
  • Prominent Location in Wigan
  • Opportunity to develop food offer

WE’RE INVESTING!!

The Cherry Gardens is situated on a roundabout on Wigan Lane, Wigan within ½ mile of the Hospital so benefits from the staff and visitors of the hospital. Wigan is a large town in Greater Manchester, England. The town is midway between the two cities of Manchester, 16 miles (25.7 km) to the south-east, and Liverpool, 17 miles (27 km) to the south-west. Bolton lies 10 miles (16 km) to the north-east and Warrington 12 miles (19 km) to the south. It is the largest settlement in the Metropolitan of Borough Wigan and is its administrative centre. The town has a population of 107,732 and the wider borough of 330,713. Wigan was formerly within the historic county of Lancashire.

Pub Layout

On entrance to the pub, on the left hand side is a beautiful, open planned seating area with an open fire, this area is multi functional with part of it converting to a dance floor and entertainment area of a weekend. To the right hand side of the pub is a seating area with a 90 inch tv which shows all live sports daily. A full length bar with an outstanding back bar that once lit up is an amazing feature to the pub. There is also a raised pool and sports area, which will potentially be removed during investment to make room for additional seating/ dining. Towards the rear of the pub is a hidden kitchen which is due to be developed to a high standard. A ramp leads down to the ladies and gents toilets. Externally, to the front of the pub there is a paved seating area with space for several benches and to the rear there is a car park for approximately 40 cars.

This pub is a community local which would benefit from a traditional food offer that isn’t currently in place. It should open from 12 daily with food served 7 days a week, offering a home cooked traditional pub grub with a superb Sunday roast. Live entertainment of  a weekend will run alongside Sky and BT sports that will bring back the iconic days of the Cherry Gardens.

Private Accommodation

The private accommodation consists of one bedroom, lounge, office, kitchen and bathroom.

 

There is a potential to develop the additional accommodation into letting room accommodation.

Annual Rent: £33,000 – Post Capex

Security Deposit: £5,000

Working Capital: £8,000

Stock: £7,000

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.

Admiral Taverns are seeking an experienced operator with a high level of catering experience and would also need to have a strong community focus. Must have experience of bringing a pub back to being the hub of the community.

Admiral Taverns are planning a high level investment which will include both internal and external decorations imminently. There will be a possible future investment to include letting rooms.

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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