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Mermaid, Sherborne

Sherborne, DT9 4JD

Your investment

£11,500

Agreement Type

Tenancy
  • Large function room, skittle alley and car park
  • Opportunity to develop a great food offer
  • Impressive sized beer garden with patio area

The Mermaid is is situated in Sherborne, Dorset which is without a doubt one of the most beautiful towns in England. With an abundance of medieval buildings, a superb Abbey, world famous schools, two castles and more, Sherborne has something to offer all of those who visit. Sherborne is a busy business and market town for many of the surrounding hamlets, yet still remains small and specialist with a shopping centre showcasing a large choice of handcrafted and local goods. Ideally located on the Dorset and Somerset border it has excellent transport links enabling the town to flourish all year round and for people to marvel at and explore the beauty that is the un-spoilt Wessex area of Dorset. Sherborne has a population of approximately ten thousand.

Pub Layout

The pub has a fully stocked public bar to the right on entering the main entrance and a separate restaurant to the left with double doors leading out to the garden. There is a large beer garden to the rear of the pub with outdoor furniture which is ideal on those sunny days when out exploring with the family. Off from the restaurant there is a fully equipped trade kitchen. From the public bar you can access the toilets, the skittle alley and the garden. The stairs go up to large first floor function room available for those special occasions such as christening parties, wakes, birthdays and wedding anniversaries. Just off of the garden is a large carpark for circa twenty cars.

The pub is well supported by locals and visitors with strong wet sales and currently has a traditional pub menu offer. The wet and dry split is approx. 70% wet and 30% food and there is a good range of lagers, real ales and cider. The main bar is perfect for watching sports, playing pub sports and has an attractive light and airy feel to it. The restaurant is in good decorative order with comfortable tables and chairs to enjoy a meal. The garden is great for families on sunny days and with its patio and grassed areas, lends itself to alfresco dining during the summer months.

 

Private Accommodation

The private accommodation has recently benefited from a refurbishment and is in good decorative order, consisting of three bedrooms, a kitchen, bathroom, lounge and office space.

Annual Rent: £22,000

Security Deposit: £3,000 (Building to £5,000 during tenure)

Working Capital: £5,000

Stock: £3,500

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: £325 plus VAT

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

The Mermaid offers a great opportunity for an experienced operator who can passionately and creatively exploit the already successful existing income streams in terms of food, drink, events and functions to really take this fantastic facility up to the next level of hospitality. The pub deserves to be a great mixture of family friendly alongside a proper community venue to make it the real ‘hub’ of the local area. Food will play an important part in the increased ongoing success of the pub, along with a friendly and engaging tenant, who will work with the locals to promote pub teams, sports and events.

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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