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Three Merry Lads, Chesterfield

Chesterfield, S42 7AJ

Your investment

£7,000

Agreement Type

Tenancy
  • Low start-up deposit – £2,500.
  • Excellent condition throughout.
  • Low business rates from April 2023.*

The Three Merry Lads is an attractive period building with a tasteful and in-keeping extension to the side. It is located on a busy main road in the picturesque village of Cutthorpe, just three miles from the market town of Chesterfield and the gateway to the famous Peak District National Park. The pub itself lies close to the village centre with the local cricket ground directly behind the pub, making it in a prime position for thirsty players and spectators to unwind after a match. With an abundance of country parks, rivers, and the well known Linacre reservoir close by, the Three Merry Lads not only attracts the local community but plenty of visitors to the area too.

Pub Layout

The trading area is split into a traditional two-room layout with a central bar. To the front of the pub is the larger, open plan lounge/dining room area which has been well modernised with feature walls and lighting, soft furnishings and a welcoming open fire – it is a relaxing place to enjoy a drink or a bite to eat. This area has its own large bar servery with a section towards the front of the pub which has been used as a dining area, also with a mixture of fixed and loose furniture. The second room to the rear of the pub is currently being used as a traditional tap room, featuring a pool table, TV and darts oche along with a seperate bar servery. In addition there is a private first floor function room which has its own bar counter and wooden dancefloor area, and is perfect for small functions, training courses or business meetings. The pub has a well-equipped catering kitchen with ample preparation and storage areas, along with a ground floor cellar. Externally the pub has a feature decked seating area with festoon lighting, adjacent to a substantial car park which can comfortably accommodate 20 vehicles.

 

The Three Merry Lads currently trades as a traditional village pub, popular with casual diners and drinkers alike. It enjoys a strong established regular trade throughout the week, with occasional events being well supported by the local community. There is an excellent opportunity to develop the business by building on the current food offer to introduce regular themed nights, and compliment this with an extended range of cask ales, premium wines and spirits. The two-room layout lends itself ideally to the support of pub sports teams and live sports coverage alongside a strong food offer and regular entertainment, while the function trade could be developed to provide an additional income stream.

Private Accommodation

The private accommodation is located on the first floor and is in good order. It consists of three good-sized bedrooms, lounge, bathroom and kitchen.

Annual Rent: £15,000

Security Deposit: £2,500

Working Capital: £2,000

Stock: £2,500

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 provisional rating list, the Low Rates Payable is based on small business rates relief being applied on a tapered basis and the licensee only occupying one property for commercial purposes.

The ideal candidate would have some experience of running a community pub in a village as well as having good catering skills and experience, as this is an opportunity that could be expanded and would be well received by the locals. The pub has an excellent local reputation so the new licensee should maintain and continue to grow this, alongside getting involved with the local community and supporting local activities.

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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