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Wheatsheaf, Kirkcaldy

Kirkcaldy, KY1 1RW

Your investment

£3,000

Agreement Type

Tenancy
  • Recently refurbished and ready for a new licensee.
  • Start up rent of £25 per week (See financials).
  • Total ingoing costs £3,000.
  • Charismatic features establishing its history within the town.

 

The Wheatsheaf is set in Kirkcaldy, nicknamed the Lang Toun in reference to the towns main road. Steeped in history dating back to the bronze age and now surrounded by theatres, museums and art galleries this area is known as the service centre for the Fife area, with direct access via the A92 to the M90 towards Edinburgh. Located just off the main street and described as a “wee gem” The Wheatsheaf brings the town alive with its traditional  intimate friendly feel, fantastic food offering and live music encouraging a loyal customer base and a friendly welcome.

Pub Layout

The entrance from the street leads you to the main bar area. Recently refurbished, this is an open plan, one room operation surrounded by fixed and loose seating, low beamed ceilings with snug areas for warmth and privacy. The bar to the left of the entrance is a predominant dark wooden feature creating the traditional feeling throughout, however the light walls provide a warm, open space with a hot holding food area alongside the bar which providing an excellent servery to the customers.

The Wheatsheaf is a wet led, traditional working mans pub with an offering of back bar food. Trade is predominately day time with the music led entertainment during the evening and weekends. Supported by a very loyal customer base this pub has a “what you see is what you get” feel with a warm welcome from the management and cliental combined with a strong trading history.

Private Accommodation

There is no private accommodation at this site.

 

Annual Rent: £16,500 

Stepped Rent Agreed:

  • 2 Months at £25 per week
  • 2 Months at £75 per week
  • 2 Months at £150 per week
  • Ongoing £317.30 per week

Security Deposit: £1,000

Working Capital: £1,000

Stock: £1,000

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

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

Admiral Taverns are looking for licensee’s who know the area, who will embrace the loyal customer base, who will have a vision for the food offer and build on it whilst demonstrating the drive and passion to ensure that The Wheatsheaf is at the heart of the community. This site has the potential to be a hub for session music/open mic whilst continuing to be the traditional working man’s daytime pub whilst maintaining excellent standards and providing good quality beers and ales.

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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