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Pincushion, Wyburton

Boston, PE21 7DD

Your investment

£13,000

Agreement Type

Tenancy
  • Planned external refurbishment scheme.
  • Popular Established Food Offer
  • Opportunity To Introduce Pub Sports Teams

The Pincushion is a large detached pub situated in the suburb of Wyberton on the edge of Boston and is prominently placed on the main road.  The area is mainly privately owned housing and some small shops along with the newly built Boston United football ground being less than a mile away.

Pub Layout

The pub is split into two separate trading rooms – the larger being the main bar area with seating for around 40 people and a pool table which could be moved to allow for bands and a dance floor area for functions.  The second room is more of a snug / dining area for up to 25 covers with access to the kitchen allowing for easy service. This room could easily be sectioned off to allow for small functions. Externally there is a fantastic beer garden with a sheltered area and parking spaces to the front of the pub.

 

This is a traditional pub and it needs to be part of the community with locals at the heart of what they do, from good beer to local events and great food. At present the food does well as a mid market offering with home-cooked Sunday lunches proving very popular. Focusing on the community offering quizzes/games nights, pub sports teams and music would be well received.

 

 

 

Private Accommodation

On the first floor and comprising of two double bedrooms, lounge, kitchen/diner and bathroom.  An additional room is currently used as an office but could easily be converted into an additional single bedroom if desired.

 

Annual Rent: £20,000

Security Deposit: £5,000

Working Capital: £5,000

Stock: £3,000

F&F: Included in the rent.

Training: £325 plus VAT

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

The Pincushion is a great pub which needs a great operator. Enthusiasm and passion are essential with an understanding of running a great community pub through great service and retail standards. A strong marketing plan and the ability to implement this is vital to ensuring this is the best family friendly pub in the area.

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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