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Royal Oak, Tingewick

Tingewick, MK18 4NN

Your investment

£17,000

Agreement Type

Tenancy
  • Opportunity to really put the pub back on the local map
  • Potential of a large investment scheme to help re-stablish the pub
  • Only pub in the village

Royal Oak is a 17th century village pub with parts dating even further back to the 15th century. It’s situated on the busy main road through the village and just off the roundabout on the A4221 dual carriage way between Milton Keynes and Brackley. Only 6 miles from the historic market town of Buckingham, the pub could easily attract customers from there and the surrounding villages as well as being the village local for the Tingewick residents.

Pub Layout

The bar area is a long L shape with two a two-bar operation. On the right hand side area there  is a mixture of loose and fixed seating for approximately 20 covers. There is an original open fireplace here with a wood burner and feature wall for those cosy evenings with direct access to the customer toilets, which are located at this end of the pub. There is a small snug area behind this, that is currently used for pool and darts. As you look at the left-hand side you will see the main bar servery, there are approximately 24 covers with access to both the trade kitchen and outside trading area and beer garden. The pub benefits from a patio area with pergola and rattan furniture before some steps up into a two-tiered beer garden that has a terraced area at the top and space for numerous benches and seating and could cater for a further 20 covers. There is also a space dedicated to the traditional Oxfordshire pub game throw for Aunt Sally. Carparking opposite the garden area can accommodate about 18 vehicles making this the perfect destination place to visit.

The Royal Oak is ideally suited for an experienced licensee with a proven history of running a solid food operation, while also making the pub very much the heart of the community for the locals to drink. It would also suit a multiple looking to expand and add another great pub to their portfolio. The pub was on a lease and is now available for the first time in over 20 years as the current licensee is retiring. This is a not to be missed opportunity for someone to re-establish this business in the village and become the pub of choice for the surrounding area. With a fully functional kitchen, carpark, two bar operation and beer garden it ticks all the boxes for the perfect business opportunity.

 

Private Accommodation

The private accommodation consists of 3 double bedrooms, living room (could potentially be used as a fourth bedroom) and bathroom – There is no domestic kitchen however the commercial kitchen has a small area with equipment that has been deemed domestic by EHO.

Annual Rent: £TBC – Introductory rent of £250 per week (net)

Security Deposit: £5,000

Working Capital: £7,000

Stock: £5,000

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.

Admiral Taverns are seeking an experienced licensee/couple who have worked in similar establishments. The vision for this pub is a traditional pub food offering along with maybe a pizza oven, with the expected trade split to be 60/40 with the right menu. We would encourage specials, themed nights like steak night or fish & chip supper to ramp up excitement in the village and surrounding areas. Weekly wet sales can easily be increased with a modernised draught range, improved premium spirits & quality wine offer along with local cask ale.

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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