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Thatched House, Wakefield

Wakefield, WF3 4AA

Your investment

£9,000

Agreement Type

Tenancy
  • Refurbishment Planned
  • Great Location On A Busy Main Road
  • “Hidden Gem” Terrace & Garden

 

The Thatched House is a popular community pub in the village of Stanley on the busy A642 linking the M62 and Wakefield, approximately 2 miles from Wakefield town centre. The pub is ideally located on the edge of a residential area, and enjoys stunning views over the River Calder. The population tops 10,000 people across all age ranges within one mile of the pub, and local shops and amenities are only a short walk away.  The city of Wakefield is increasingly popular with tourists visiting its cathedral, Ridings Shopping Centre and art gallery, and the location of the pub on one of the main access roads from the motorway network attracts a large amount of passing trade.

Pub Layout

The pub is a traditional two-room layout with a tap-room bar area and lounge, both accessed through the main front entrance lobby and both featuring well-stocked bar serveries. The bar area is to the right of the pub and features a pool table and darts oche, along with a mix of fixed and loose seating. The lounge area to the left of the pub is the smaller of the two rooms with a mix of fixed and loose seating and feature open fireplace, and leads through the conservatory to the pub’s hidden gem – a balcony seating area with fantastic views out over the River Calder and surrounding fields.  Steps lead down from this to the enclosed beer garden and patio area, featuring picnic benches, a covered seating area and childrens play equipment.  As the pub is built on a hill, there is the additional bonus of a small function room at basement level, with access out to the garden and seperate toilet facilities.  There are two commercial kitchens in the pub (one on each floor) giving the perfect facilities to cater for functions or larger parties. Externally to the side of the pub is a car park which can comfortably accommodate approximately 20 vehicles, along with a garage/storage area. The standards in all areas have been kept very high by the current licensees.

The pub currently operates on an approximate 70:30 wet/dry trading split, with food offered through the week on ad-hoc hours alongside a very popular and well-renowned Sunday carvery.  The local community provides a strong established day-to-day trade, with the opportunity to build on the existing food offer throughout the week.  The layout of the pub would support the introduction of pub sports teams and entertainment programme alongside the food offer, and the function room provides an additional revenue stream to the business.  The garden and terrace areas also provide a boost to income throughout the warmer months.

 

Private Accommodation

The private accommodation on the first floor is in good order and of a comfortable size, and comprises of three bedrooms, lounge, kitchen and bathroom.

 

Annual Rent: TBC – Start up rent £15,000

Security Deposit: £3,000 (building bond to £5,000)

Working Capital: £2,500

Stock: £3,500

Business Rates: Nil

F&F: TBC – 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.

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

The Thatched House is a fantastic opportunity for either an individual or couple who can deliver a quality, home-cooked pub food offer through the week alongside a fantastic Sunday lunch offering. This could be an experienced pub operator or someone with catering experience that is looking to make the next step to run their own business. The new operator will have the potential to improve and extend the current drinks offer and range. There is a great opportunity to increase customer footfall, spend and pub turnover through the introduction of new products and more premium options across all drinks categories to attract new customers catering for different occasions.

 

 

Admiral Taverns are planning to develop a transformational Capex investment scheme for the right operator who has the necessary funding to purchase the pub Fixtures and Fittings as part of a major joint investment programme.

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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