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Grey Nags Head, Gateshead

Gateshead, NE8 1AS

Your investment

£15,250

Agreement Type

Tenancy

The Grey Nags Head is a traditional pub on Gateshead high street. It’s opposite the recent Trinity Square regeneration project, where there now sits a Tesco, Vue Cinema, Nando’s, Costa Coffee and most importantly the Trinity Square student halls of residence, putting around 800 students on the pub’s doorstep.

The Grey Nags Head is a traditional pub on Gateshead high street. It’s opposite the recent Trinity Square regeneration project, where there now sits a Tesco, Vue Cinema, Nando’s, Costa Coffee and most importantly the Trinity Square student halls of residence, putting around 800 students on the pub’s doorstep.

The pub is just a five-minute walk from Tyne Bridge heading across into Newcastle City Centre. Gateshead High Street and in particular the Trinity Square development is a magnet for local residents and students and the pub is in a prime location to benefit from this trade.

Pub Layout

Internally the pub is a true sight to behold. It’s a traditional Victorian pub in its décor and style and is in excellent condition, with stained glass windows, high ceilings and a majestic island bar in the middle of the single room operation. There is plenty of seating to be had around the bar including a raised area to the right-hand side that can be used as a stage for live music. The fixtures and fittings have been lovingly looked after over the years and are in great condition.  The walls are tastefully decorated and are adorned with pictures, bric-a-brac and local curiosities from days gone by.  The island bar has a fantastic back bar that promotes a fantastic range of traditional and premium spirits with plenty of space to show off the products on offer.

The toilets are situated to the rear of the building at the back of the bar and are in good condition. To the left of the toilets on the back wall is a darts throw that is well used by individuals and teams and to the right of the toilets you will find a reasonable sized catering kitchen that can be used for churning out good old fashioned pub grub for students and older customers alike.

The Grey Nags Head has always been a busy friendly local in the heart of Gateshead serving the local community. Known for its beautiful décor, warm welcome and great quality beer the pub has a loyal set of locals who visit the pub day in day out. Quiz nights, live music and karaoke keep the pub busy in the evenings and the six screens, carefully positioned around the pub allows live sport to be watched from every seat in the pub. The pub is also proud to be the first destination for Gateshead FC supporters and provides the pre and post-match drinks whatever the result.

The pub is well known for the quality of its beer. It boasts a great range of premium lagers, popular ciders and local keg ales, and would benefit from the introduction of cask ale and possibly craft beer to lure in the local students. Supported by a wide range of continental bottled lagers, fruit ciders, premium gins, traditional whisky’s, party spirits, and elegant wines, the pub caters for all tastes and all age groups.

Proposed Opening Times

Monday – Thursday   10am – Midnight

Friday – Saturday       10am – 1am

Sunday                         11am – Midnight

Private Accommodation

The private accommodation can be accessed via a door at the back of the pub. It is a really spacious area and is in excellent condition. There are three good sized bedrooms, a spacious living room, bathroom and kitchen that are all tastefully decorated and have been well looked after.

Annual Rent: £26,000

Security Deposit: £6,000

Working Capital: £4,000

Stock: £5,000

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: £250 plus VAT

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

The Grey Nags Head has a great and loyal following but there is clear potential to attract the local students in residence who currently get taxis across the water into Newcastle. By providing for their needs, the Grey Nags Head could become the student pub on their side of the river. Decent Wi-Fi, a great coffee offer, and a small easy, quick food menu could bring in students during the daytime and at night the pub could provide entertainment in the form of open mic nights, jam nights, quiz nights, televised sport and live music. Regular promotions on core brands could provide a value offer at key times to entice customers in as well as promoting exciting craft brands and continental beers to offer a point of difference.

The licensee should also make sure they continue to provide a warm welcome to their existing customer base and should be willing and able to provide an offer that caters for both students and locals alike. The licensee will need to be able to provide a friendly face behind the bar, in a busy and vibrant pub. They’ll need bags full of energy and be able to identify opportunities to drive trade through events and activities and to be able to promote these well on social media as well as building close relationships with the local influencers.

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)

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

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

Training – This is required when taking on a Business Support Agreement.  Included is an e-learning package for you and your staff and attendance to our ‘Set Up To Succeed’ workshop held at our Head Office in Chester.  Please note, you will be required to attend this workshop before signing a long term tenancy agreement.

Service Charge Cost – £30.10 per week – This is a weekly charge that includes statutory compliance certification (including Annual CP12 and CP42 gas test), cellar cooling services (including full insurance to cover repairs and / or replacements), Health & Safety Essentials (including assessments) and Licensing Support.


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