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Junction Inn, Oldbury

Oldbury, B69 4DY

Your investment

£11,000

Agreement Type

Tenancy
  • Zero Business Rates*
  • Suitable For A First Time Operator
  • Low Annual Rent

The Junction Inn is situated in a prominent position, in the centre of Oldbury Town Centre. Oldbury is a town in the West Midlands and is part of the “Black Country”. It’s part of Sandwell District council and 6 miles from Birmingham City Centre. Oldbury is a busy High Street and the population within 1 mile of the pub is over 19,000. The Junction is literally at the heart of the town, sitting on a corner plot which is passed on both sides by traffic and therefore has a prominent location. It has an established business, with a good reputation.

Pub Layout

The Junction comprises of one large room, which is light and airy. The pub has a good selection of fixed seating with a defined bar area.  Next to this area there is a pool table and some additional seating, and there is a large open fire which in the winter gives this pub a cosy feel. The pub has a cobbled external trading area to the front of the pub. It doesn’t have a car park, however there’s plenty of parking in the area, with a large council run car park just two minutes down the road. Most customers however live and work in the immediate area, so there’s no need to worry about parking.

 

 

The existing customer base is very mixed, from retired customers and families during the day to the “high-vis” manual workers arriving for a drink. During the evening, the custom is really mixed with the pub having a real community appeal. There is huge potential to develop this business, to grow wet trade, along with building pool, darts and dominoes teams, along with putting on various entertainment eg. quizzes and live music. Back of house there’s a small food prep area, and whilst we see this pub doing snacks, the kitchen area is not big enough to do much by way of a food offering.

 

Private Accommodation

The first floor comprises of two good sized bedrooms and an extremely large lounge and indeed a large domestic kitchen/diner. In addition, there’s a bathroom and toilet. This area of living accommodation is in an acceptable condition. The top level of the pub has an additional four bedrooms and a bathroom; however, this floor hasn’t been used in years and is in poor condition at present.

Annual Rent: £11,000

Security Deposit: £5,000

Working Capital: £3,000

Stock: £3,000

F&F: TBC (Funding options may be available)

Training: £325 plus VAT

* 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.

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

This pub would be a great starter pub for someone venturing into the hospitality sector. Being a one-room operation, it doesn’t require lots of staff, rather it needs someone who is a brilliant host and can provide the community with a great pub.  The ideal licensee will ideally know the area and have the skills to market, promote and grow the wet offer, grow sports teams and launch entertainment, including live music. Pride, passion, personality, an eye for detail, focus on great standards are a few of the key skills we are looking for in a potential operator.

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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