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Herdwick Inn, Penrith

Penrith, CA11 0QU

Your investment

£16,000

Agreement Type

Tenancy

The Herdwick Inn is in an excellent location and is easily accessible by rail and road. The village of Penruddock is just off the A66, 5 miles south west of Penrith which offers direct rail links to London, Manchester, Birmingham, Edinburgh and Glasgow. Located a mere 4.5 miles from the M6 motorway and just 11 miles North East of Keswick. The X4 and X5 busses stop directly outside the pub and travels from Penrith train station through the village and on to Keswick. The pub is on one of the most popular Coast-to-coast (C2C) cycle routes as well as just a short drive from Blencathra. With easy accesses to the picturesque Lake Ullswater as well as the calm shores of Derwent water there is something for everyone. Just a little further by car Buttermere, Crummock Water and Loweswater occupy the beautiful Vale of Lorton. Nearby, Bassenthwaite Lake, the only ‘lake’ in the Lake District, and Thirlmere, the reservoir that supplies Manchester with fresh, running water, are both protected by the towering slopes of their shoreline mountains and are perfect destinations for, walkers, climbers, cyclists and those simply wishing to take in the beauty of the Lakes.

The Herdwick Inn is in an excellent location and is easily accessible by rail and road. The village of Penruddock is just off the A66, 5 miles south west of Penrith which offers direct rail links to London, Manchester, Birmingham, Edinburgh and Glasgow. Located a mere 4.5 miles from the M6 motorway and just 11 miles North East of Keswick. The X4 and X5 busses stop directly outside the pub and travels from Penrith train station through the village and on to Keswick. The pub is on one of the most popular Coast-to-coast (C2C) cycle routes as well as just a short drive from Blencathra. With easy accesses to the picturesque Lake Ullswater as well as the calm shores of Derwent water there is something for everyone. Just a little further by car Buttermere, Crummock Water and Loweswater occupy the beautiful Vale of Lorton. Nearby, Bassenthwaite Lake, the only ‘lake’ in the Lake District, and Thirlmere, the reservoir that supplies Manchester with fresh, running water, are both protected by the towering slopes of their shoreline mountains and are perfect destinations for, walkers, climbers, cyclists and those simply wishing to take in the beauty of the Lakes.

Pub Layout

The pub is decorated to a good standard and in keeping with the traditional feel of the Herdwick. Internally the pub has two trading areas predominantly food focused, renowned  for serving quality local produce. The main serving bar has a cosy feel featuring an open fire, exposed beams and serves a variety of real ales, lagers and a wide selection of Gins, Vodka and other spirits. Externally, to the front there is a seating area with several wooden benches and a further covered seating area which provides additional seating during all seasons and is a well though out area, there is good off road parking.

The Herdwick also offers Five letting rooms, one king, one superking/twin , one twin one double and one single, offering an additional income stream.

The delightful Herdwick Inn welcomes locals and tourists to the area alike, it is hugely popular with people exploring the delights the area has to offer. The pub has a friendly and welcoming atmosphere and offers a range of good quality drinks and a strong food offering. In reality this pub is a delight especially for any visitors who will stay in one of the letting rooms. The rooms are comfortable & well laid out to cater for visitors, marketing them on online streams is a must to drive this additional income stream.

Private Accommodation

TBC

 

Annual Rent: £23,000

Security Deposit: £5,000

Working Capital: £ 8,000

Stock: £3,000

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.

We now seek a new licensee to embrace this exciting opportunity. You will need the experience in running similar operations and have a strong catering background.  They will eagerly promote the quality letting accommodation and look to position a menu that will attract consumers locally and visitors to the area on day trips. You will need to embrace the local community and look to develop a strong marketing plan.

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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