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Wheatsheaf, Exning

Newmarket, CB8 7HA

Your investment

£10,000

Agreement Type

Tenancy

The village of Exning lies just off the A14, 12 miles east of Cambridge, 10 miles south of Ely and the nearest own is Newmarket which is only 2 miles away. Due to the proximity of Newmarket, there is an equine connection to this site, and it always gets busy (both drinkers, diners and guests for the letting rooms) on race days. The village is a good size and has a population of approximately 2000 with plenty of facilities to support the local community.

The village of Exning lies just off the A14, 12 miles east of Cambridge, 10 miles south of Ely and the nearest own is Newmarket which is only 2 miles away. Due to the proximity of Newmarket, there is an equine connection to this site, and it always gets busy (both drinkers, diners and guests for the letting rooms) on race days. The village is a good size and has a population of approximately 2000 with plenty of facilities to support the local community.

Pub Layout

Internally, there is one long bar, with a snug area and toilets to the right and a dining area and conservatory to the left, overlooking the garden. There is a fully, functional catering kitchen behind the bar. There are approximately 40 covers throughout. There are a TV and BT sports for the locals. The Wheatsheaf also has five letting rooms. One single, two twin rooms, two double rooms, and all are en-suite.  Externally, there is a very large garden with some play equipment, patio area to the front and side, and plenty of space for outdoor drinking and dining. There is a very small car park at the front, enough for four cars but there is off-street parking. Also at the front, there is a patio area with benches and umbrellas.

The Wheatsheaf has three business opportunities. The Letting rooms, which are available for the busy Newmarket races in season and the many events they put on, and then tourists, workers other times. A bed and breakfast operation is needed for this. The pub itself should operate as a local for the villagers of Exning offering. Local ales, good quality pub grub, bingo, quiz nights, teams – crib/darts/football, entertainment nights, themed food nights, charity events, race nights and a full program of events.

Private Accommodation

The private accommodation used to be two letting rooms but could be adapted back to letting rooms and create accommodation quite easily

Letting Accommodation

The Wheatsheaf also has five letting rooms. One single, two twin rooms, two double rooms, and all are en-suite.

Annual Rent: £22,037

Security Deposit: £5,000

Working Capital: £3,000

Stock: £2,000

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.

There is the opportunity of destination food, again attracting from Newmarket and the surrounding villages, with the lovely restaurant area/conservatory and in the summer the external garden dining area. The successful applicant needs to have good business and financial skills to manage the operation here, preferably with catering and pub experience and the ability to become one of the villagers in Exning.

This pub needs someone to not only engage with the local drinkers that use the pub but form and drive a consistent traditional food offer. The village will reward the right person or couple with their loyalty and custom. The Wheatsheaf is in very good condition throughout, having recently been redecorated.

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 – £28.01 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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