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Berkshire, Oxford

Oxford, OX1 4RA

Your investment

£16,000

Agreement Type

Tenancy
  • Beautiful town centre pub with garden
  • 4 popular letting rooms
  • Zero Business Rates*

Amazing turn key operation, ready to trade the minute you step through the door! This is a rare and exciting opportunity for an experienced dynamic pub operator or entrepreneur to work in partnership with pub owners to reposition a superbly located, high profile pub within the market. The owning pub co are looking to invest considerably into the pub in early 2021 to develop and deliver a fantastic buzzing social space working with a visionary operator who possesses the vision, skills to develop a compelling operational plan that gives reasons to visit over and above the traditional, and expected, fantastic, friendly, engaging service and the offer of a superb extensive range of continental Lagers, English Ciders, British Ales and Superior spirits. The proposition and operating plan for this pub must consist of compelling reasons to visit but remain very much pub focussed at its heart and should include a unique and stunning food offer along with an engaging weeknight and weekend activity proposal that embraces the local high quality local live music and arts scene. The repositioning of the business within the market place could incorporate a name change to reconnect with its traditional roots. The pub is situated a short walk from Oxford’s bustling city centre on a busy main road occupied predominantly by boutique B&B’s and a 250 room hotel, alongside a strong, upwardly mobile community and student population.

 

Pub Layout

The pub benefits from a large open plan trading area that accommodates 80+ seats serviced by a single easily operated bar servery. There is a very well appointed trade kitchen which is more than capable of delivering most styles of a menu to the level of covers in the trading areas. There is a large ground floor cellar. To the first floor, there are four letting rooms, two en-suite letting rooms and two shared facility letting rooms. Rooms in Oxford are consistently in demand meaning potential excellent occupancy levels and room rates generating a very strong additional income stream. To the rear of the building, there is a secluded beautiful patio/beer garden that can seat an additional 40+. Both of the trading areas are flexible and can be adapted to suit the trading requirements of the day or week thus lending its self very well to working as a Chameleon site.

The Berkshire is a food-led establishment currently operating a 70/30 split between food and wet sales. The pub benefits from loyal, affluent regulars and a constant rotation of tourists and maintains a position as one of the top premium pubs in the city. The pub celebrates beer and ale from local breweries as well as award-winning beers from across the UK.

Private Accommodation

The private accommodation consists of secure office space and a self-contained flat with two large rooms, kitchen and two bathrooms

Letting Accommodation

There is potential for 4 letting rooms

 

Annual Rent: £26,000

Security Deposit: £5,000

Working Capital: £6,000

Stock: £5,000

Business Rates: £Nil*

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.

*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.

The Berkshire should continue to develop its reputation over for superb fresh food and high-end alcohol, which has enabled the business model to generate excellent GPs across the board. Currently, the pub closes Sunday evening and Mondays, so there is plenty of room to expand on the current operating hours. Breakfast is popular, as well as an evolving lunch menu. The pub benefits from being fully booked over weekends and for Sunday lunch. The pub has a lot of success with guests using the pub for weddings and graduations all year round with events generating in excess of £2,500. There are two en-suite letting rooms on the upper floor; these are ideal to be converted into boutique rooms, there are another two large rooms that could be remodelled to let.

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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