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Smiling Mule, Bradford

Bradford, BD2 3HD

Your investment

£6,000

Agreement Type

Tenancy
  • Refurbishment planned.
  • Zero business rates.*
  • Stepped rent & partial tie – see financials.

The Smiling Mule is a traditional brick property with a wealth of charm and characteristic features. The property boasts a great location, set back from a busy through road with lots of residential housing locally and a massive site behind the pub is currently under development for a new housing estate which will be a great new consumer base to target.

Pub Layout

The Smiling Mule has a great traditional feel with lots of spaces to explore. As you enter the pub, you come into the main lounge area served by the main bar. When you carry on through there is a rear snug with an open fire, a lovely place to enjoy a drink in a cosy, peaceful space with its own small bar servery. It will be no surprise that cask ales play a crucial part in this pub. Beyond the snug, there is a conservatory style room which has most recently been used for a pool table. It has a great view of the garden (as well as direct access). The garden is large and consists mainly of a large lawn with childrens play equipment and a raised decking area which could be used for outside entertainment. Some large trees to one side will require attention occasionally, and there is also an outbuilding with a servery for hot summer days etc. Externally to the front of the pub there is a small car park. The pub is in good condition albeit slightly dated, and will benefit from a tasteful refurbishment which enhances its features.

 

The site is currently trading at a steady weekday wet trade, some of which is cask ale led. Evenings and weekends allow live sports, occasional live entertainment, functions and other rhythm of the week activities. This pub would ideally suit someone with local knowledge, a passion for cask ales and a passion for community wet-led pubs and what it takes to make them exciting to the local consumer. The ideal applicant will have a passion for basics being done to a very good standard and for marketing the site using all marketing media to ensure the offer/message reaches a large audience.

Private Accommodation

The private accommodation consists of a kitchen/dining room, bathroom, lounge and three bedrooms. The standard is currently in need of an upgrade and the pub company commit to doing this as part of a bigger investment to the point of long term let.

* The private quarters are currently not able to be used, with a planned refurbishment required.  The pub is marketed as a “lock up and leave” business to begin with.

Pre Capex Fianancials

Annual Rent: TBC – Stepped Rent Agreed:

  • 3 months at £1 per week
  • 3 months at £25 per week
  • Ongoing at £80 per week
  • One Month No Service Charge

Security Deposit: £2,000

Working Capital: £3,000

Stock: £1,000

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

Tie: Partial Tie – Free of Tie on Wines & Minerals ( pre capex)

Training: £325 plus VAT

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

* 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.

This pub would ideally suit someone with local knowledge, a passion for cask ales and a passion for community wet-led pubs and what it takes to make them exciting to the local consumer. The ideal applicant will have a passion for basics being done to a very good standard and for marketing the site using all marketing media to ensure the offer/message reaches a large audience.

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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