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Ox & Plough, Washington

Washington, NE38 0LZ

Your investment

£15,000

Agreement Type

Tenancy
  • Established community local with room to grow the customer base
  • Fantastic beer garden.
  • Separate function room.

The Ox & Plough is an established community pub located in the town of Washington, Tyne & Wear. Historically part of County Durham, it is the ancestral settlement of the Washington family, which George Washington descended from. Located on an community estate surrounded by families and starter homes and alongside the local parade of shops establishes the Ox & Plough as hub of the community. Access via local busses which run frequently with stops alongside the pub and the benefits of a shared community car park provides a huge boost to this site, alongside the surrounding woodland which is ideal for walkers and with the nearest pub almost a mile away increases the opportunity to drive footfall from the surrounding households.

 

Pub Layout

The Ox & Plough benefits from two separate trading areas. The main bar area is home to televised sports, darts board and pool table. The fixed seating along the walls mixed with high bar stools and loose tables and chairs provide the informal feel. The lounge area which has been tastefully refurbished is enhanced by the predominant bar, traditional furnishings and log burner providing a warm and inviting feel. A few steps leads into a small raised area with a mixture of fixed & loose seating with access to french doors leading out to the beer garden which has beautiful views overlooking the woodland area directly behind the pub. Site benefits from the community car park making this the perfect destination food site.

The Ox & Plough is a popular community local offering an excellent range of food and drink. Predominantly the Ox & Plough is wet led with pool and darts teams, live televised sports and live music/karaoke increasing weekly trade. Site currently offers traditional food menu  however with a more affordable offering alongside a children’s menu this has the scope to change the wet/dry balance and increase footfall. There is scope to grow the sports teams and market private functions such maximising the use of the large lounge which could be used as a separate function room introducing local charity events can only establish The Ox& Plough as the hub of the community.

 

 

 

Private Accommodation

The private accommodation is located on the first floor of the pub and comprises: Three large bedrooms, a kitchen, living room and bathroom.

Annual Rent: £15,000

Security Deposit: £5,000 (not negotiable)

Working Capital: £5,000

Stock: £5,000 (including food stock)

F&F: Funding options may be available for the right licensee

Training: £325 plus VAT

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

The Ox & Plough requires an experienced licensee (s) who have run a pub and food establishment previously. The applicants must have the passion and knowledge of running a successful community local and are who are cheerful and sociable and are willing to build a great rapport with the local community whilst being the friendly and welcoming face behind the bar. The ability to cater for different groups of people from different age groups and background, continuing to support the current customer base whilst attracting other less frequent users is essential. Marketing the function room, a better and more profitable bar line up alongside a traditional, more affordable food offering will help delivery income growth. Excellent retail standards, a calendar of regular sport & entertainment and a good knowledge of the local area will be helpful as the pub is much loved by the locals and has the scope and location to be the hub of the local community.

The pub has benefitted from capex in recent years and is in good condition.

At this time no capex is planned for the immediate future.

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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