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Green Gables, Exeter

Exeter, EX4 1JH

Your investment

£9,000

Agreement Type

Tenancy
  • Recently refurbished internally and externally
  • Zero Business Rates*
  • Starting rent of £290 p/w (net) available

The Green Gables is situated on Buddles Lane in Exeter and is located in a prominent position, with the pub playing a huge part of the local community. Exeter is a small city and is one of the most vibrant, attractive and historically interesting cities in England. Exeter has a real sense of individuality, its varied cultural scene is embraced by proud locals, and the diverse mix of eateries means it’s renowned as one of the foodie capitals of the South West with plenty of opportunities for adventure. This is the perfect place to try a new activity, or simply relax and enjoy the stunning scenery. It’s located within one mile of the cathedral, the Royal Albert memorial and the town centre with the train station also just under one mile away on foot.

Pub Layout

The Green Gables was commissioned by the City Brewery to serve the Broad Meadow Estate and as a pub, dates back to around 1923. The pub has a beer garden on three sides all of which are laid to lawn. The front area is also partially laid to patio and is a great sun trap for customers. On entering the pub there is a seating area with a mixture of fixed and loose seating and also one main bar servery. To the right of the bar, there is a games room that holds the pool table and gaming machine. To the rear left of the pub there is a snug room with its own independent access from the main bar and a serving hatch that is in the middle of the main back bar. This snug area can be used for darts matches and can also be separated from the main bar area and can cater for gatherings or functions. The Green Gables also benefits from being on a suburban road with plenty of on-street parking, surrounded by many chimney pots and within easy walking distance.

Having very recently been completely refurbished internally and externally, the Green Gables is a proper local’s local, where everyone is on first name terms and the team know what most of the regulars drink without having to be told. The perfect place for an after work pint whilst still in work boots before heading home for the evening. A wet only site that prides itself on a great pint of cask ale, a small yet successful range of draught and bottled beers as well as some spirits. Games, dominoes, darts and even the odd Euchre keep this locals community pub thriving. Following a recent full internal and external refurbishment, the Green Gables is presented in excellent condition throughout.

Private Accommodation

The private accommodation is all on the first floor and includes, lounge, kitchen, bathroom and four bedrooms. The private accommodation was included in the recent refurbishment and also has its own external access.

Annual Rent: £26,250 (Starting rent of £15,000 p/a (net))

Business Rates: Nil*

Security Deposit: £3,000 (Building to £5k during tenure)

Working Capital: £3,000

Stock: £3,000

F&F: £14,000 – 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.

* 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.

This is a really exciting opportunity and Admiral Taverns are looking for a new licensee who not only has the passion and drive to run a community pub, but who also has experience at re-launching a new trading offer and delivering a shared vision. Externally the garden is under utilised and with some benches, brollies and regular upkeep the outside areas could be used all year round. There is also the room to develop an outside offer here such as a small outdoor BBQ or year round pizza oven.

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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