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White Hart, Melton Mowbray

Melton Mowbray, LE13 1RB

Your investment

£8,000

Agreement Type

Tenancy
  • Flexible Financial Terms Available
  • High Footfall Location In Town Centre
  • Zero Business Rates*

The White Hart is located on one of the main roads into the town, and is ideally situated for access to the  main shopping areas and the famous market square. Melton Mowbray (usually referred to locally as just Melton) is famous for the Melton Mowbray Pork Pie and as the centre of Stilton Cheese production. Melton Mowbray is also recognised as the “Rural Capital of Food” with foodies from near and far going to visit bringing lots of custom into the area for local businesses.

Pub Layout

The White Hart has a traditional feel to it but has been decorated tastefully, making a welcoming space inside. It is a large open plan operation, split into two levels. The lower level to the front of the premises is currently laid out for casual drinking, live entertainment and sports viewing, with the upper section towards the rear being geared for activities such as pool, darts, pub team games, sports viewing and vertical drinking. The trading area has a long well-stocked bar servery to cater for all, with a variety of popular products. Adjacent to the bar servery is a fully compliant catering kitchen which is not currently in use, but could easily service a simple food offer.

 

 

The pub currently trades as a wet only sports pub, majoring on a well-presented draught range and a good range of other popular products. There is no food offer at present, but there is the opportunity to develop a simple hot and cold snack food menu from the catering kitchen. Retaining current regular trade and increasing the number of pub teams (pool, darts, crib etc.) would be key to building a strong mid-week trade, as well as running an entertainment programme at the weekends to attract both existing and new patrons.

Private Accommodation

Large accommodation split over two levels. The first floor has two large reception rooms and a kitchen, and on the second floor are three bedrooms and a large bathroom with bath, shower cubicle, sink and toilet.

Annual Rent: £26,000

Security Deposit: £3,000

Working Capital: £2,000

Stock: £3,000

Business Rates: Nil

F&F: TBC (Funding options may be available)

Training: £325 plus VAT

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

* 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.

This is an exciting opportunity for a individual or couple who are familiar with running a similar style business. The skill set to delivering a traditional pub food is a must and offering a diverse menu throughout the day including capturing the day time shoppers. Excellent retail standards are a must with an ability to plan and deliver  a strong a strong marketing plan to ensure every trading session is maximised.

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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