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Spring Gardens, North Shields

North Shields, NE29 0JD

Your investment

£10,000

Agreement Type

Tenancy

The Spring Gardens is located on one of the two major routes through North Shields. The pub is situated in a highly residential area with multiple rows of 1930’s terraced housing all around, creating massive footfall past the pub. North Shields is vibrant and energetic community with a great spirit and the Spring Gardens caters for these local customers as well as those in the surrounding area. Admiral Taverns recently acquired the site from Star Pubs and Bars in October 2019. There are plenty of pubs nearby but the Spring Gardens retains a strong and loyal customer base and is well known for its Sunday lunches and is packed when there’s live televised football.

The Spring Gardens is located on one of the two major routes through North Shields. The pub is situated in a highly residential area with multiple rows of 1930’s terraced housing all around, creating massive footfall past the pub. North Shields is vibrant and energetic community with a great spirit and the Spring Gardens caters for these local customers as well as those in the surrounding area. There are plenty of pubs nearby but the Spring Gardens retains a strong and loyal customer base and is well known for its Sunday lunches and is packed when there’s live televised football.

Pub Layout

The Spring Gardens has all the amenities you would want from a community pub. It’s got plenty of trading area which is supplied by a fantastic bar stocking a huge range of lagers, ciders and traditional ales, complimented by a great back bar providing a great range of gins, rums, vodkas and party spirits, as well as fridges stocked with a range of continental beers and fruit cider. There’s a separate pool table area and darts throw allowing sports teams to play their matches whilst not disturbing diners and other drinkers. The pub has two sets of ladies and gents’ toilets at each end of the pub, as well as a secondary entrance, which allows the upstairs function room with bar to be completely separated from the pub, allowing for parties, christenings, funerals or even a separate dining area. To the side of the pub there is a good-sized courtyard which is packed out in the warmer months. Customers also benefit from plenty of seating to the front of the pub, where they can enjoy drinks whilst watching the world go by. There is a large catering kitchen which can be accessed to the rear of the bar, which can provide any type of food offer the licensee requires and for the number of covers the pub has. The décor’ and furniture are in excellent condition, but Admiral Taverns would consider a significant refurbishment with the right operator.

The Spring Gardens is by far, the best place to watch live sport in the area. It’s size and layout make it the ideal pub for televised sports as well as being able to cater for a number of pool and darts teams. There is an opportunity to increase the number of pool tables and darts throws which would drive additional trade throughout the week, and this can be supported by other regular activities such as quiz nights, karaoke and food and drink promotions. The pub is well known for its great range of quality drinks and is well used by customers wanting a big night out but not wanting to pay the prices down at the nearby Fish Quay bar and restaurant development. The Spring Gardens currently shows both Sky Sports and BT Sports as well as Racing Channels. Sports teams play from here and there is a function room upstairs which could be used as a ‘sports hub’ for certain events such as the Grant National, Euros etc. Additionally, the pub offers a Burger / Pizza menu with a Sunday Lunch menu which whilst already well thought of in the area, could be further developed to increase turnover and entice additional custom.

Private Accommodation

The private accommodation is extensive, consisting of three large bedrooms, a living room, kitchen and bathroom.

Annual Rent: £23,000

Security Deposit: £5,000

Working Capital: £2,000

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: £250 plus VAT

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

There is plenty of opportunity to develop on the pub’s reputation for sport as well as to further develop the pub’s food offer. With the right licensee, a significant investment would be considered which would allow the Spring Gardens to maximise its potential and to draw customers from across the town. This investment may include increasing the number of pool tables and darts throws to allow for extra sports teams and trade throughout the week, a full refurbishment of the trading area, furniture and toilets, along with improvements to the beer garden, external decoration, signage and lighting. Competitive pricing on great brands, an exciting food offer, supported by activities such as quiz nights, karaoke, live music, acoustic sets and of course live sport. The under-utilised function room is a massive asset to the business and could easily be set up to be used for more parties and events providing additional revenue.

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)

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

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

Training – This is required when taking on a Business Support Agreement.  Included is an e-learning package for you and your staff and attendance to our ‘Set Up To Succeed’ workshop held at our Head Office in Chester.  Please note, you will be required to attend this workshop before signing a long term tenancy agreement.

Service Charge Cost – £30.10 per week – This is a weekly charge that includes statutory compliance certification (including Annual CP12 and CP42 gas test), cellar cooling services (including full insurance to cover repairs and / or replacements), Health & Safety Essentials (including assessments) and Licensing Support.


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