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Ship, Gainsborough

Gainsborough, DN21 3AE

Your investment

£11,500

Agreement Type

Tenancy
  • Great location & good local support
  • Opportunity to increase food trade
  • Zero* Business Rates

The Ship is located in the centre of the village of Morton, situated in the parish of West Lindsey in Lincolnshire. Morton has a population of around 1,350, but it is very close to the larger market town of Gainsborough. Gainsborough offers a wide range of facilities, including local shops, supermarkets, schools, a health centre, and ample sports facilities. Morton boasts excellent transport links via the A631 to Gainsborough connecting to larger cities via the A1 and M18 and provides regular bus services between Morton and surrounding towns and villages making The Ship easily accessible for the locals.

Pub Layout

This attractive, well-presented pub boasts lots of traditional character and features a large open-plan area. The centrally located serving bar offers full viewing access to the entire trade space. On the left, there is a games area equipped with a pool table and darts board, while on the right, there’s a lounge area with low-level seating, ideal for drinking and socialising. Behind the bar, you’ll find a well-equipped trade kitchen. Access to the beer garden and smoking shelter is through the games area.

The Ship is a real community venue being popular with local residents and also those coming for further a field to dine. Decorated to a good standard, the pub is a hive of activity with regulars sports teams meeting throughout the week and also live televised sports on show on a regular basis. Entertainment is also very popular at the Ship and live music and regular community events are always well supported. The good sized catering kitchen benefits from having a 5-star EHO rating and the food on offer at the Ship is a great combination of home cooked and traditional pub grub. The Ship also boasts an enclosed beer yard located to the side of the property and is fortunate to also have a built-in smoking shelter included.

Private Accommodation

The private accommodation is in good condition and compromises of three ample size bedrooms, lounge and bathroom, with the trade kitchen being utilised for the domestic area as well.

Annual Rent: £17,000

Security Deposit: £5,000

Working Capital: £3,000

Stock: £3,500

Business Rates: £Nil.  Based on the April 2023 rating list, the Zero Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.

Fixtures and Fittings: To be confirmed upon valuation –  funding options may be 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 looking for a licensee with the skills and qualities needed to maximize this terrific opportunity including the desire and motivation to run a village local and to get involved in community events. Some catering experience would be desirable and there lies an opportunity to extend the food offer by driving the lunch time trade. The pub currently has a very good reputation in the area and is well supported by the local residents, however, someone who can really drive this pub forwards and encourage those from further afield would be an advantage.

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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