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Plungington, Preston

Preston, PR2 3AR

Your investment

£8,000

Agreement Type

Tenancy
  • Start up rent of £288 per week.
  • Planned refurbishment.
  • Large beer garden ideal for outdoor events.

Wow what an opportunity! The Plungington, known affectionately as the Plungy, is an extremely popular community pub located on the corner of the busy Lytham Road roundabout in the Fulwood area of Preston. Fulwood is an affluent area just North of Preston City Centre. The area has in recent years become a magnet for homeowners and local independent businesses due to the quality of the homes and the improving demographic.

Pub Layout

The Plungington is an imposing detached building set on a corner plot benefitting from an impressive sized beer garden. The former bowling green is now used for seating space which can easily seat 150 thirsty customers and is packed out on sunny days with families flocking to sit out and socialise. There is also a patio area overlooking the beer garden with an additional 29 picnic tables as well as a wooden hut with fixed additional seating for all year-round use.

You are welcomed into the pub through the front of the building which faces on to the busy Lytham Road. There are steps up to the entrance hallway with a door to the left leading to the private accommodation. The main island bar has a modern décor whilst in keeping with the age and tradition of the building, showing off the open fire and high coved ceilings. There is a mixture of fixed and loose seating with high tables with bar stools. The bar itself is located within the heart of the pub servicing both the dining and bar areas. To the left there is a doorway taking you through the rear hallway which provides access to the toilets, beer garden and the dining lounge. Although food is served throughout the pub the dining lounge provides a more formal feel with its solid wooden flooring and dining tables. There is a tucked away seating area located next to the bar with fixed and loose seating along with bar tables.

The Plungington has previously had a well-established food offering providing a traditional but quality food offer as well as some specials and themed nights during the week. The menu was popular with families and for those wanting a treat after a busy day working. For those customers who need their thirst quenching, the pub offered a fantastic drinks offer serving a variety of continental lagers, cask ales and fruity cider. These are complimented by a large wine list and an interesting and extensive spirits offer including enticing gins, exotic rums and party shots. The pub is much loved by the community and utilises its size and space to host events such as carol services in the winter and Gin and Beer festivals in the summer.

Private Accommodation

The private accommodation is located on the first floor and is accessed through the entrance hall of the pub. On the first floor you will find: kitchen, lounge, bathroom, three double bedrooms and an office/single bedroom. There is a second floor which is accessed via the landing of the private accommodation but this is currently not in use.

Annual Rent: £35,000 (with investment)

Security Deposit: £4,000

Working Capital: £2,000

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.

This truly is a fantastic opportunity especially with the much loved beer garden. These opportunities don’t come along very often and with the right operator and the right vision the sky’s the limit.  To make the most of the opportunity this pub provides, I am looking for an experienced operator who knows the area well and has the desire and aspiration to grow the business significantly over the long term. There is potential to invest in the business down the line with a focus on an external redecoration, new signage and lighting and potentially a spend on internal redecoration which any new licensee would have a say in. This is going to be a very busy and hectic operation so an operator used to dealing with a team of staff and the confidence to run a busy food pub with an extensive beer garden is a must.

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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