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Thistle, Cumnock

Cumnock, KA18 3AB

Your investment

£8,000

Agreement Type

Tenancy
  • Start up rent of £50 per week ( see financials).
  • Four fantastic letting rooms.
  • Established community local with home-cooked food offering.

Cumnock is a Victorian looking town in East Ayrshire and lies at the confluence of Lugar Water and Glaisnock Water.  With a small population of around 13,000 people this town has seen a decline over the years,  however this area is steeped in local history with its strong mining heritage, beautiful churches and is home to to the Robert Burns academy (the largest educational campus in Scotland). Cumnock has excellent bus and rail links alongside the A70 which connects Cumnock to other larger towns such as Ayr.

The Thistle is a detached pub with four letting rooms and also has a detached, three bedroom bungalow situated to the rear of the pub.

Pub Layout

From the main entrance you will be greeted by reception, a small informal welcome awaits either people waiting to stay in out letting rooms or those wishing to dine in our restaurant. To the left of reception there is a small, traditional bar which boasts an open fire. With a mixture of low level fixed and loose seating, this area is complimented by a pool table and TV’s showing live sporting events. To the right of the reception is a beautiful restaurant. In contrast to the bar, this has a contemporary feel to provide the perfect ambiance and has seating for up to approximately 40 covers.  The letting rooms are situated on the first floor and are accessed by a separate external stair case. The four rooms are all equipped with a private en-suite bathroom, complete for the perfect break. The site is surrounded by a beautiful grassed area. There is a paved area to the side of the main bar complete with benched seating for those perfect summer months. There is a small car park to the right of the pub which leads to the private accommodation, a beautiful three bedroom, detached bungalow.

The Thistle currently trades  as a 80/20 split towards food hosting a traditional ‘good quality home cooked food’ menu. The Thistle is very much a local community pub and embeds itself in well, complimented by solid core of loyal regulars. The Thistle has four letting rooms and with excellent advertising, gains trade from travellers into Cumnock and tradesmen working in the area.

Private Accommodation

There is no private accommodation at this site.

Letting Accommodation

There are four letting rooms on the first floor, all double rooms complete with private en-suite bathrooms.

 

Annual Rent: £42,000 – Rent steps available 

6 weeks at £50 net

8 weeks at £150 net

8 weeks at £450 net

Security Deposit: £3,000

Working Capital: £2,000

Stock: £3,000

F&F: TBC (Funding options available)

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.

Admiral Taverns are looking for an experienced licensee (s) who can manage a multi-faceted business, capitalise on new footfall to the area by breathing new life into this well established pub, building on the pub’s already fantastic foundations, introducing a strong marketing plan, incorporating social media and creating the best community local in the area. Ideally, someone who has a passion for food, who is community focused and can provide a haven for locals and visitors, providing a friendly welcome, a great rhythm of the week and a fantastic retail offer.

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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