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Old Wine Vaults, Eastwood

Nottingham, NG16 3BP

Your investment

£10,000

Agreement Type

Tenancy

Reputedly the oldest pub in Eastwood, dating from 1779. The Old Wine Vaults is a Grade II Listed Building in Broxtowe Borough Council’s Eastwood Conservation Area. It is located on the main road close to the busy crossroads in the middle of Eastwood.

Reputedly the oldest pub in Eastwood, dating from 1779. The Old Wine Vaults is a Grade II Listed Building in Broxtowe Borough Council’s Eastwood Conservation Area. It is located on the main road close to the busy crossroads in the middle of Eastwood. This recently refurbished site is a friendly community pub with a beautiful, fully enclosed rear garden with a decked area and a children’s play area.

Pub Layout

The pub is an open plan on a split level, with a separate taproom. The trading area is serviced from a central bar, and there is a functional catering kitchen; however, it does need some upgrading. There is an investment planned for this site.

The Old Wine Vaults is a wet-led site that has a sound reputation for cask ales. By day it is family-friendly, and in the evenings there is a great variety of entertainment, including live music and televised sports. It is home to sports teams and is a vibrant, lively place that is popular with families in the warmer summer months. With the right operator, the landlords are looking to move the retail offer at this site to a value-led wet-site to compete with and take trade from other value-led competition in the area.

Private Accommodation

The private accommodation consists of three bedrooms, a kitchen, bathroom and sitting room.

 

Annual Rent: £14,100

Security Deposit: £5,000

Working Capital: £3,000

Stock: £2,000

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: £325 plus VAT

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

I am looking for an operator who is driven to providing the community with a family-friendly pub during the day but is keen to offer evening entertainment including some live music and televised sports (although not a dedicated rock venue). The pub has historically been home to sports teams and has been a vibrant, lively place. During the summer, the large beer garden is a sun-trap and ideal for BBQs and other outdoor activity and is extremely popular with families in the warmer summer months. This site requires a truly community-minded operator who knows the local area and is keen to make the pub a real neighbourhood hub. The new publican will have to be able to manage the different aspects of the site through making sure there is plenty to attract families by day as well as great live music and sports available for the evening customers.

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 – £28.01 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.

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 – 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 – £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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