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Courtyard, Worcester

Worcester, WR1 1UW

Your investment

£20,000

Agreement Type

Tenancy
  • Prominent High Street Location
  • Multiple Income Streams
  • Large Internal Trading Area

The Courtyard is an impressive Tudor Coaching House pub, with great kerb appeal and is set in the heart of the historic Worcester city centre. It’s not only a fantastic place to live but a destination for people to visit all year round, bringing in plenty of tourist from all over the World. The affluent city also benefits from a popular University. The city centre is the ideal place to go for drinks, great food and entertainment. The pub is located on St Nicholas Street, just off the main High Street. It attracts trade from the town centre shoppers and workers, along with local residents, students and people out in the city centre to socialise at evenings and weekends. The Courtyard is high street pub that focuses on great drink, food, entertainment, TV Sports viewing and customer service. Over 8,300 people live within half a mile of the pub, of which the main category is Student Life.

Pub Layout

The Courtyard was refurbished internally in 2019 and externally in 2022, bringing a cool, urban vibe, with walls and cladding being painted in grey, but in keeping and highlighting any traditional and priceless features such as radiators and feature windows. Through the arc entrance you enter the “Courtyard”, which is extremely different and quirky, it feels like you’ve stepped into a different building, boasting exposed brick and modern décor, creating an impressive entrance. To the left you are greeted by a large bar, which has an impressive range of craft beers, ciders and spirits. There is a mix of booth seating and loose tables in the front and rear left side trading areas. To the right is a smaller bar with front and rear trading areas, which can also be used for Functions. A commercial kitchen is located at the rear of the pub, along with a DJ Booth and smoking area. All trading areas have TVs to maximise viewing of TV Sports

The Courtyard currently trades as a city centre, high street bar serving impressive cocktails and shows popular TV Sports events. Due to its location, it has a steady stream of shoppers passing by looking for lunch and in the evenings students and town goers looking for a vibrant bar to enjoy drinks. The Courtyard is known as the place to go. The entertainment scene is very popular at the Courtyard with DJs and live music bringing the pub alive at weekends. There is well establish student trade, with promotions throughout the week on both food and drinks, keeping mid week trade as busy as popular. There is huge potential to develop this business, to grow the wet trade, to launch a new food offer, along with growing TV Sports viewing and a live entertainment.

 

Private Accommodation

The private accommodation is located on the second floor of the pub and is all in good decorative order. It comprises of 2 lounges, 3 bedrooms, kitchen and bathroom.

Annual Rent: £22,000

Security Deposit: £6,000

Working Capital: £7,000

Stock: £7,000

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: £325 plus VAT

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

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

This is a fantastic opportunity for visionary operator. Industry experience is essential, as is food  and entertainment knowledge. This site requires a driven, focused licensee that puts their team and customers at the forefront of everything they do. They will display passion and pride, have a keen eye for detail and high standards. They will have knowledge of all areas of marketing their business and showcasing this throughout social media at every level. A business plan will be required, which articulates the what and the how, this will be used in business meetings to measure success and traction along the way. This is an exciting opportunity to build a multi income stream venue with day time, evening, food, coffee, Tv Sports, entertainment and much much more!

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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