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Queen Street Tavern, Forfar

Forfar, DD8 3AL

Your investment

£3,000

Agreement Type

Tenancy
  • Initial start up rent £50 (net ) per week for 12 weeks.
  • £500 per month utilities contribution for the first three months.
  • Reduced total in-goings £3,000.
  • £1,000 support towards first trade order.
  • Free of tie on wine, spirits & minerals.
  • Recently refurbished accommodation.
  • Fantastic home cooked food offering.
  • Community local with loyal customer base

 

Situated in the centre of Forfar, The Queen Street Tavern is close to the main retail activity and is easy accessible from town parking spaces. This traditional market town, steeped in history was once the centre of the ancient kingdom of picts and is located off the main arterial Dundee to Aberdeen A90 route, making this the perfect stop off on route to Dundee or Aberdeen.

Pub Layout

It is a traditional style public house with a superb public bar area, further complemented by a dedicated lounge/eating area. Both areas have separate access but can also be entered by the connecting internal doorway allowing the atmosphere to flow throughout. There is a full commercial kitchen located just off the lounge bar area. Externally, there is a small car park to the rear of the property.

The Queen Street Tavern is predominately a food-led site with a community locals bar.

Private Accommodation

Access via a separate entrance, the private accommodation consists of  two bedrooms, open plan kitchen/lounge area and bathroom/toilet.

 

Annual Rent: £11,600 – start up rent £ 50 per week for 12 weeks

Security Deposit: £1,500

Working Capital: £1,000

Stock: £500 – £1,000 supported first trade order

Fixtures and Fittings: Upon Valuation  – funding options available for the right licensee.

Tie: Free of tie on wines, spirits and minerals – Tie release fee applicable.

Training: £325 plus VAT

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

This site would suit an experienced licensee with food experience who can benefit and capitalise from sites already established excellent reputation. Ability to run a community local and knowledge of the area would be advantageous alongside traditional marketing which will enable you to capture more of the local trade and make this site the hub of the 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.


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