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Mill

Thatcham, RG18 4QH

Your investment

£15,000

Agreement Type

Tenancy

The Mill is located on the outskirts of the affluent Berkshire market town of Thatcham, just 3 miles away from Newbury. Thatcham straddles the River Kennet and Avon Canal and is served by Thatcham railway station on the line between Reading and Newbury. The pub itself is situated on a busy roundabout at the North East edge of the town. Adjacent to the pub is a local shopping precinct with very busy local supermarkets nearby.

We at Admiral Taverns have recognised the unlocked potential in The Mill and are looking to do a significant investment, internally and externally with the right licensee, which is reflected in the rental figure advertised. We are currently pending the design pack, however we would be looking for an inspired applicant with a clear vision to help us transform this pub in to the best it can be. The Mill is located on the outskirts of the affluent Berkshire market town of Thatcham, just 3 miles away from Newbury. Thatcham straddles the River Kennet and Avon Canal and is served by Thatcham railway station on the line between Reading and Newbury making it an easily accessible location. The pub itself is situated on a busy roundabout at the North East edge of the town. Adjacent to the pub is a local shopping precinct with very busy local supermarkets nearby. The pub is also located close to a small industrial estate and other local amenities. The area is a very densely populated residential area with the pub being within easy walking distance to these homes so it is popular with the locals.

Pub Layout

The pub is a large, modern single storey building which was purposely built to serve the local community. Internally it’s warm and welcoming with a spacious open plan bar area. The bar is the central point of the pub which then opens out into a large raised area with tables for approximately 60 covers. The Mill has several large screens located around the pub often showing different sporting events as well as having a pool table and darts board. The pub also benefits from ample car parking with the overflow of the shopping precinct coming into use if needed. There is a good sized commercial kitchen, this is used daily for a lunchtime and evening traditional food menu.

The Mill’s current customer base is very much from the loyal local community with further passing trade using the pub for traditional food, drinks and weekend entertainment. The pub currently offers an excellent range of cask and premium drinks which could always be expanded. The food menu, although currently doing well, could benefit from a fresh new look to attract new customers and keep the local market interested. TV Sports and pub teams, including pool and darts are very much key to the trade of this pub.

Private Accommodation

The accommodation is well sized with three bedrooms, a lounge, bathroom, kitchen and office.

Annual Rent: £35,000 (post investment)

Security Deposit: £5,000

Working Capital: £5,000

Stock: £5,000

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.

I am looking for an experienced licensee who will enjoy engaging with the vibrant local community and have clear plans for the food side of the business where there is opportunity for growth. I am wanting someone to continue with the excellent range of cask and premium drinks and continue to grow the already popular following. The successful applicant must have a clear vision and excellent business plan in order to work with us in the investment, internally and externally to champion the clear potential this pub has.

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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