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Fully refurbished in the Winter of 2015, #Central is quite simply a stunning bar located in the heart of Newcastle City Centre. The pub sits next door to the “Centre of LIFE” tourist attraction and is very close to the Newcastle Metro Concert Arena. There are major high-rise office blocks in the vicinity and has the benefit of the local University populous within easy reach. Located opposite the venue is the Holiday Inn and a matter of yards away is the Jurys Inn. In addition, the pub is just a short ten-minute stroll to the Eldon Square main shopping complex and St James Park, home of Newcastle United F.C. Owing to the central location the pub has the opportunity appeal to all age groups depending on reason for visiting the City or indeed whether they live locally to the pub. This is a superb opportunity for an operator looking to take steps into the city Centre hospitality economy.
On entering the building, you are greeted by an open plan trading area with the main bar set to the rear leaving plenty of retail space. The site is tastefully decorated with a view to a 12-14-hour trading deal. The pub is in immaculate condition and very much fit for purpose as an all-round multipurpose venue. There is a staircase to the side of the main bar that accesses a small night club / function room. This did not form part of the recent refurbishment but could easily be decorated to match the style for future use. There is no outside drinking or smoking area with the pub being located in a busy city centre location. Car Parking is available on both metres and nearby multi storey’s. Food is developed from a simple back bar operation that will easily produce the standard overpriced fayre that branded operators such as Starbucks and Costa produce.
Currently the pub operates primarily in the late-night sector and opens when business opportunity presents i.e. Newcastle United FC match days and Concert Arena nights. With multiple consumer traffic flow available locally, the pub must engage with the levels of day time footfall in the area. The bar can operate on several levels one of which is to offer an in-vogue coffee and snack offer. The pub will be WIFI enabled giving passers by the opportunity to hold meetings, catch up with Social Media or in fact study. The evening and late night trade is a given that can be maintained by the first-class bar offering.
The private accommodation is located on the first floor of #Cerntral and comprises: three good sized bedrooms, kitchen, bathroom, office and living room.
Annual Rent: £34,000
Security Deposit: £10,000
Working Capital: £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.
Successful recruitment with a like-minded individual will see #Central be able to open throughout the day. 8am for coffees / light breakfasts through to 2am as a nightclub operation. The pub is sparkling and has stood up well to its first 18 months’ post investment. A fantastic opportunity.
Admiral Taverns is seeking a vibrant, enthusiastic operator looking to embrace a prominent city centre location. They will need to drive traffic through a quality marketing programme and be able to utilise the ever-increasing social media platforms to engage with their consumers. Some catering experience would be helpful as to capture daytime trade and a lunch time food offer will be required.
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.