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Penny Farthing, Glasgow

Glasgow G42 8YG

Your investment

£10,000

Agreement Type

Tenancy
  • Fantastic established community local
  • Great location
  • Hub of the community

The Penny Farthing is situated in a highly advantageous location on Cathcart Road in Glasgow. Being positioned on the main road and surrounded by local shops ensures that it benefits from significant passing foot traffic, providing ample opportunities to attract customers. The corner terrace building adds to the pub’s visibility and charm, potentially making it a recognizable landmark in the neighbourhood. Its location amidst a bustling urban environment ensures that The Penny Farthing is well-placed to cater to locals. Additionally, the pub’s proximity to excellent transport links, including trains and buses directly to Glasgow city centre, as well as direct access to the M77 motorway, further enhances its accessibility. This makes it convenient for both locals and commuters passing through the area to stop by for a drink.

Pub Layout

From the street you will enter the main bar area of the Penny Farthing. This is a spacious area split between a main bar and lounge area in open plan style. Dominated by the unique shaped galley style traditional bar to the right hand side of the room the main bar area is complete with wooden floors, fixed wall benched seating alongside low level loose tables and chairs, with TV’s on the walls showing all televised sports. Through an archway to the lounge area you will find benched booth areas, carpeted floors and subtle decor providing the perfect ambiance for a quiet drink. This is in stark contrast to the main bar area yet balances perfectly within this open plan space.

The Penny Farthing is a vibrant and community-oriented pub with a strong emphasis on providing a welcoming environment for its local regulars. As a wet-led establishment, its primary focus is on offering a premium selection of beverages, live sporting events broadcasted on HD TV’s, pub sport teams and activities, such as dominoes, which are popular among its clientele alongside the Sunday fun day events, featuring activities like bingo, play your cards right, and live music, add to the pub’s appeal as a lively entertainment venue. Karaoke nights are a firm favourite amongst the locals providing an opportunity for guests to showcase their singing talents and enjoy a fun-filled evening of music and camaraderie. With such a diverse calendar of events, The Penny Farthing ensures that there’s always something exciting happening, keeping its customers entertained and engaged throughout the week.

Private Accommodation

There is no private accommodation at this site.

 

Annual Rent: £TBC

Security Deposit: £5,000

Working Capital: £2,000

Stock: £3,000

Fixtures and Fittings: To be confirmed upon valuation –  funding options may be 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.

 

Admiral Taverns are seeking an experienced, community focussed licensee, who will be able to connect with the locals and make the pub the hub of the local community. Ideally the new licensee should have knowledge of the area, have the ability to unlock the untapped growth potential for wet sales and be creative and passionate about local events. A strong marketing plan incorporating televised and pub sports, quizzes and local charity events, alongside building on the established trade will ensure the Penny Farthing will continue to be the pride of 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.  Please note, this only applies to pubs marked with an Asterix *


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