Pike & Eel, Daventry

The Pike and Eel is a community estate pub built in the mid 1900’s (60’s at a guess). It shares space in the middle of the estate with a parade of shops and a school and is next to a large piece of open communal ground. It can be accessed from the shops, the estate itself or across the communal park ground. The area is heavily populated with a strong working class profile and families.

Pub Layout

The pub can be entered from the front or side door to the rear, the cellar is street level. When entering from the front, you can either go right into the smaller trading area, set out as a bar or continue straight through a corridor (past the toilets) to a larger room which can be used as a function / entertainment or normal trading area. The pub is decorated to a good standard. From the larger room you can exit onto a covered decked veranda area which overlooks the communal grassed area. The bar connects the two trading areas for the staff but not the customers. The larger room has a long bar the length of the room.

The Pike and Eel is the true definition of a well-supported community estate pub. The pub trades on a wet only basis and is well known for offering televised sports, getting involved in local charities and hosting events. During the weekends, the pub comes alive with a strong entertainment programme such as discos and live music.  The offer is value but presented well. Whilst there is no catering kitchen the new licensee may wish to implement a back bar snack offer in terms of a pie or pizza oven . We have in house support to help launch this .

Private Accommodation

Directly above, the accommodation consists of three bedrooms, kitchen, lounge and bathroom.

Annual Rent: £14,000

Security Deposit: Initial deposit of £2,000 building up to £5,000 or the equivalent of three months’ rent, whichever is greater

Working Capital: £2,000

Stock: £2,000

Business Rates: £Nil.  Based on the April 2023 rating list, the Zero Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes.

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.

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

I envisage that the Pike & Eel should be the heart of the community with a strong rhythm of the week supporting local teams such as Darts, Pool, Crib, Dominoes and Football and support local charities. Whilst there is no catering kitchen the new licensee may wish to launch a small back bar food offer such as pizza or pie oven.

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 – £350.00 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme.  Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost – £63.33 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 for by the licensee and the licensee only occupying one property for commercial purposes.  Please note, this only applies to pubs marked with an Asterix *