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Cross Keys, Liversedge

Liversedge, WF15 6NE

Your investment

£14,000

Agreement Type

Tenancy
  • Fantastic Beer Garden & Seating Areas.
  • Local Sports Teams.
  • Strong Established Cask Ale Trade.

** INVESTMENT PLANNED **

The Cross Keys is a detached community pub which sits on a large plot in the heart of Liversedge, comfortably nestled in-between the larger towns of Cleckheaton, Batley and Mirfield. Located on the edge of Spen Valley, there are plenty of walks and beautiful views to be taken in around the area. Traditionally a Wool Mill town, the buildings as you would expect are traditional stone built terraced houses, which adds extra charm to the town. The area itself has a high population and the homes are predominantly all privately owned.

Pub Layout

On entering the pub through the main porch, you are welcomed into an open plan trading area with a central horseshoe bar which services the whole pub. There is a mix of loose and fixed lounge seating throughout the pub creating a comfortable and relaxing atmosphere for regulars and new customers alike, along with additional loose seating to cater for those dining. There are two raised decking areas at the rear of the pub, which can easily accommodate an additional fifty covers. The decking overlooks the impressive beer garden which is lawned and houses a number of picnic benches, this area has previously been used for local music events however, due to a change in licensing the focus here should now be on developing a family and community area. The car park is located to the side of the pub and can hold up to thirty vehicles.  Planned investment will include updating the exterior signage to highlight the kerbside appeal of the pub.

The Cross Keys operates as a traditional wet-led community local. There is currently a small food offer, with a wet/dry trading split of approximately 70:30. Although there are no pub teams the Cross Keys supports and sponsors a local football team, and there could be potential to develop this further with other local clubs. There are a number of regularly changing cask products on the bar which are particularly popular with the locals. The fantastic beer garden has previously been used for ad-hoc music festivals, however there is huge room to explore this area with regular events throughout the summer months. There is a commercial kitchen on site, so the food offer could also be built on to introduce a new stream of custom. We are looking to do an external refurbishment at the pub to update the signage and overall kerbside appearance of the pub.

Private Accommodation

The private accommodation is located on the first floor and is all in good order, comprising two bedrooms, bathroom, lounge and a private kitchen.

Annual Rent: TBC – Initial start up rent £15,000

Security Deposit: £5,000

Working Capital: £3,000

Stock: £6,000

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.

I am looking for a community focused individual or couple to take on this fantastic opportunity. The ability to deliver a good pub food is required and a passion and love of good beer is preferred as the pub is popular with cask drinkers and currently holds Cask Marque accreditation. There is room to develop and grow a compelling food offer and make the most out of the commercial kitchen and the trading potential of the pub both inside and outside with the fantastic beer garden and decking space. The successful applicant must have exceptional standards, along with good marketing and social media skills in order to promote their new offer and establish both a wet and food rhythm of the week. The beer garden in this pub is an untouched gem so there is a great opportunity to run regular community events, BBQ’s and outside activities across the Summer months.

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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