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Red Lion, Sleaford

Sleaford, NG34 9DZ

Your investment

£12,000

Agreement Type

Tenancy
  • Zero Business Rates*
  • Strong Established Local Trade
  • Fantastic Beer Garden & Play Area

The Red Lion is situated in the small town of Ruskington, approximately five miles from Sleaford and thirty minutes from Newark/A1 and Lincoln. It is a medium sized detached property set in its own grounds adjacent to the local shopping area. There is a significant amount of mixed housing just a short walk from the pub with the opportunity to attract diners from the nearby town of Sleaford and the surrounding hamlets. The area has schools, shops and other amenities to cater for its developing demographics.

Pub Layout

The pub has an airy open plan L shaped trading room served by a large bar with view to all the trading areas. The front trading area is for the more casual drinking, pool and darts with a designated dining area towards the rear. The pub is in excellent condition and has a mixture of loose and fixed seating throughout and a log burner creating a warm and welcoming atmosphere. A fully equipped catering kitchen is behind the bar. Externally at the front of the pub is a small picket fenced patio for alfresco drinking or dining, to the side and rear is a large car park. Beyond the car park to the rear of the property is a fenced off lawned rear garden with childrens play area.

 

The pub currently trades mainly as a drinks orientated operation but there is an opportunity to further develop the current food offer supplied from the fully equipped catering kitchen as the current wet/dry split is 80/20. The majority of current business comes from late afternoon and evening trade with food mainly being served at lunchtimes later in the week but there’s a great opportunity to build on the offer by opening all day every day i.e breakfasts.

There is an excellent range of keg beers, lagers & ciders with an excellent opportunity to develop a cask ale offer along with a fantastic range of wines, spirits and soft drinks. The current food offer comprises of a traditional home cooked pub food menu supplemented with sandwiches and lighter bites.

Private Accommodation

The private accommodation is located on the first floor and can be accessed internally which consists of three bedrooms, a family bathroom, lounge and kitchen. The accommodation is in good order.

Annual Rent: £18,500

Security Deposit: £5,000

Working Capital: £4,000

Stock: £3,000

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.

* Based on the April 2023 provisional rating list, the Zero Rates Payable is based on the licensee only occupying one property for commercial purposes.

Ideally the licensee should have experience in a community focused environment with some experience of producing and delivering a reasonable hot and cold food menu. They should be familiar and skilful with modern marketing techniques as this is a small town but is surrounded by several villages. Engaging marketing is key to attracting from these communities to increase wet footfall and drive the food offer.

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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