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Kings Head, Loughborough

Loughborough, LE12 5PE

Your investment

£14,000

Agreement Type

Tenancy
  • Great village location.
  • Strong established trade.
  • Zero Business Rates.*

The Kings Head is situated on the main street through the village of Sutton Bonington, approximately five miles north of Loughborough. The village itself has a population of just over 2000 residents, along with the nearby University of Nottingham campus for bioscience & veterinary medicine students, and is served by a number of small independent businesses with the Kings Head being one of only two pubs in the village. Sutton Bonington Football Club is situated nearby, along with your usual village facilities in the form of a park, childrens play area, tennis and bowling clubs. The nearby River Soar is popular with walkers, cyclists and boaters in the warmer months.

Pub Layout

Internally the pub has a traditional yet fresh décor in keeping with the tradition of the building. It is divided into two distinct trading areas, both served from a prominent central bar. The snug bar is popular with the locals for a relaxed drink, and features a mix of fixed and loose seating and a darts oche. The lounge bar/dining area has softer furnishings and accommodates approximately 35 covers for relaxed dining. The pub has been very well maintained throughout.

Externally to the front, the pub features a seating area for approximately 25-30 patrons, with a car park to the side which can comfortably accommodate 20-25 vehicles. To the rear of the pub is a good-sized enclosed beer garden. The pub recently underwent an exterior decoration giving it great kerb appeal.

Trading Style

The Kings Head operates as a traditional village community pub, with a great local reputation for cask ales and a popular homemade food menu served seven days a week featuring locally renowned fish & chips, weekly theme menus (steak nights, pie specials etc.) and Sunday lunches. The menus are complemented by a good wine list and premium spirit range. The pub currently enjoys a strong regular trade and is well supported by the local community. There is an opportunity to build on the current offering through regular entertainment (quiz nights, live music) and possibly pub sports through the introduction of darts teams.

Private Accommodation

The private accommodation is situated on the first floor, and is in good order. It consists of four bedrooms (the smaller fifth bedroom is currently being used as an office), lounge, kitchen and bathroom.

Annual Rent: £30,900

Security Deposit: £5,000

Working Capital: £7,000

Stock: £2,000

Fixtures and Fittings: £10,525 – 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: £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 is an exciting opportunity to run a well established pub business, we are looking to work with experienced licensee (s), ideally a couple with either one or both having a chef background, who will continue the excellent work of the current licensees and fully embrace village life. You will need a strong marketing plan and experience in delivering and developing a traditional village pub food offering is a must. The desire to grow the business is essential along with embedding yourself in the local village life to make this the “go to” pub for the local community.

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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