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Woolcomber, Hinckley

Hinckley, LE10 2PH

Your investment

£10,000

Agreement Type

Tenancy
  • Three trading areas.
  • Potential investment opportunity.
  • Large carpark & outside space.

The `Wooly` is situated 2 miles from Hinkley town centre,  in its most affluent suburb of Burbage. The pub is a traditional 1960s built community pub occupying a huge prominent corner plot with a large car park in the centre of a housing estate mainly privately owned. The area within a mile of the pub is densely populated with over 26,000 people living there, the largest social group being made up of people from the comfortable community’s band.

Pub Layout

The pub has a car park to the front for over 50 cars and at present is partially covered with Astro turf which can accommodate 20 picknick benches. To the rear is a more traditional safe enclosed pub garden with a pergola producing both shade and cover for drinkers.

The pub has 2 main trading rooms of a similar size, a traditional bar, and a lounge. There is also a smaller third licensed trading room with a separate entrance to one end. The pubs main entrance leads off the car park into a lobby with the main toilets to the left and access to the Bar and Lounge. The bar has harder wooden furniture as would be expected with a pool table darts run and plenty of seating. The bar lends itself to vertical drinking and looks out over the front of the pub. Both trading rooms are served by a central bar ideal for keeping staffing levels low as both bars can be served simultaneously. The Lounge has softer furnishings both fixed and loose along with bar stools along the servery and windows overlooking the rear garden and large double doors giving access to outside.

The third room was originally an offsales hence its separate entrance and is situated at on end of the bar servery, the current licensees do not use this room at present. A small trade kitchen is adjacent and access to the rear enclosed yard and cellar that is below ground and extremely large and easy to work in.

The pub at present trades to the local community with most customers walking to the pub. Opening hours are currently dictated by our current licensees from 4pm onwards in the week and all day at Weekends. The draught drinks offer is small and targeted to its current customers. Sports teams such as darts and pool are popular as is the weekly karaoke held on a Friday night. The early doors trade is often bolstered by local trades people calling on the way home from work. No food is currently on offer however recently a pie and mash offer was successful and fresh cobs are still served from behind the bar in large numbers.

Private Accommodation

Consists of 3 bedrooms large family bathroom sitting room and kitchen. The flat feels large, light and airy and is situated above the pub with separate entrance.

Annual Rent: £18,000

Security Deposit: £5,000 (Deposit Build Option Available)

Working Capital: £2,500

Stock: £2,500

F&F: Funding options may be available for the right licensee

*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.

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.

The Woolcomber is an existing opportunity for a new licensee to build on an already well-established solid community pub retail offer. The current licensees have traded the pub for 13 years and this is not an opportunity to be missed.

The pub should trade as a community pub with teams and encourage families specially to use the outside area. It should hold some big outside events each summer and have a travelling pop up food offer at weekends in the warmer months. The creative use of the small galley kitchen to have a food offer is also key. Teams and sky sports would be a huge benefit. It should draw people out of Hinkley as it is a very short drive away and hold a prominent main road frontage. Admiral Taverns are eager to carry out a refurbishment here with the right operator on a long term agreement.

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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