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George, Witham

Witham, CM8 2AQ

Your investment

£14,000

Agreement Type

Tenancy
  • Large U-Shaped Trading Area
  • Well-known for Sports and Entertainment
  • Substantial 5 Bedroom Living Accommodation

The George is a substantial town centre pub, on the circuit in Witham. The u-shaped bar and large internal trading space gives significant scope for driving additional trade. Although there isn’t a pub car park there is nearby on-street parking and a substantial car park nearby. There is a population of c 23,500 within a one mile radius.

Pub Layout

The George has two entrances. The side entrance currently leads to the pool area and front bar, darts area and casual seating. The main entrance which has disabled friendly access leads to the main bar. Around to the right is another spacious seating area which encompasses a raised area with leather bench seating. At the rear of this side of the pub, is a fantastic raised area that can be used for functions, an additional pool table, Super-League Darts and much more. Externally there is an attractive, partially covered, enclosed decking area.

The George is presently a wet led, sports focussed pub. Having had a full refurbishment in recent years, the George benefits from having pool teams, darts teams and super-league darts. Despite being wet-led the George has a huge trade kitchen capable of producing broad food offers for dining in, take-away or perhaps delivery.

Private Accommodation

The private accommodation is substantial and comprises 5 bedrooms, bathroom, kitchen, lounge and office.

Annual Rent: £TBC

Security Deposit: £5,000

Working Capital: £5,000

Stock: £4,000

F&F: TBC – Funding options may be 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 George is a well-established locals pub with a focus on live sports and entertainment. We are looking for someone to build on the current trade levels to make the most of the assets that the pub has. The pub could have a great food offer to compliment the sports and entertainment and has plenty of space for functions and private hire.

 

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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