The Fairfield
Gloucester Crescent, South Wigston, Leicestershire, LE18 4YE
Profit Potential: £52,820 P/A
3 Year Standard Tenancy
- Planned Brewery Investment of £170,000
- Low initial licensee investment needed
- Situated in a densely populated area
The Fairfield is shortly to undergo a £170,000 refurbishment which will see improvements being made throughout the public areas of this well established pub business. This is a rare opportunity to benefit from an investment with low initial ingoing costs.
Well supported by the local population, there is plenty of scope to build on the current retail offer. The Fairfield represents a timely opportunity to work with us on the planned investment in order to deliver a pub which caters to a broader range of customers.
The Opportunity
With a planned investment of around £170,000 to develop the bar, disabled facilities and trading areas, The Fairfield has lots of potential to develop and focus on pub teams and events. The biggest opportunity post investment is to deliver a good value food offer that caters for a broad range of customers. With a low ingoing investment deal (see the financial information), this represents a great chance to take a newly invested pub and place it at the heart of this community.
The Fairfield is a community pub which benefits from a very large car park and reasonable sized beer garden at the rear which features some children’s play equipment.
We are looking for a highly motivated ‘hands on’ operator to optimise food sales and build on the already developing beer trade. Ideally the successful candidate will have excellent customer service skills and can demonstrate a track record of success with high volume, great value food. They will also be able to integrate fully into the community.
Download the Vision Presentation to find out more about our plans for The Fairfield by clicking here
For more information or to register your details with our Recruitment Team call 0800 056 4111 or speak direct to the Business Development Manager for this pub, Steve Russell, on 07711436534
Please note that the FMT figures in the financial information are post investment.
*The full value of the fixtures and fittings is £50,000, however the initial deposit required for the fixtures and fittings is £10,000. We would offer flexible terms over the course of your agreement to pay the remaining balance of £40,000.
Download the details for this opportunity » (PDF, 2206.8 kB)
Financial Information
Profit Potential
We anticipate that a tenant could earn £52,820 net profit from this site per year.
Turnover
FMT stands for Fair Maintainable Trade - please click here for a full definition of this term,
Drinks
| FMT | £407,250 |
|---|---|
| Estimated Current (net) | £269,203 |
Food
| FMT | £151,667 |
|---|---|
| Estimated Current (net) | £35,724 |
Machines
| FMT | £11,268 |
|---|---|
| Estimated Current (net) | £11,268 |
Level of Investment
This is a one-off payment made at the start of the tenancy agreement.
All figures are estimates and exclude VAT.
| Fixtures & Fittings | £10,000* |
|---|---|
| Stock & Glassware | £0 |
| Working Capital | £5000 |
| Trading Deposit | £9,000 |
| Valuer & Stocktaking | £0 |
| Total | £24,000 |
Rates
These can be checked with the local rating office. We encourage licensees to challenge rates and use a specialist to assist.
| Rateable value | £35,000 |
|---|
Rent
The rent has been calculated using the FMT turnover that we could anticipate from the site. All Everards rents are linked to RPI so may increase or decrease in future years.
| Rent required for this site | £28,900 Year 1, Increasing to £36,900 in Year 2 |
|---|
Interested? Call us on 0800 056 4111 or enquire online »
Interested? Call us on 0800 056 4111 or enquire online »
Public & Private Areas
Features of the Fairfield
*Bar
*Lounge
*Snug
Other areas:
*Kitchen
*Outbuildings
*First floor cellar
*Beer garden
*Car park
Living spaces
*Three bedrooms
*Sitting/dinning room
*Kitchen
*Bathroom
*Office (downstairs)
Location
The Fairfield is the only pub in South Wigston and is surrounded by privately owned houses and has a population of around 1,496.
*This information is generated from our assessment of Fair Maintainable Trade (FMT) at The FAIRFIELD and is based on certain assumptions and information provided by our licensees (to be disclosed on request). FMT is the level of turnover we would expect the pub to achieve within its market and this is assessed in line with good industry practice and relevant accountancy standards.
Wherever possible we have also included the pub’s current trading information as at 10TH AUGUST 2011 in addition to FMT. This is taken from our sales information (barrelage) and information from the licensees such as their trading information and cost base.
We would expect you to use the FMT information to help form the financial element of your business plan. These figures above are an estimate based on FMT and you may think that you can exceed or conversely not achieve these. As this stage we would strongly recommend that you take independent financial advice to help you form a budgeted profit and loss statement.
This information is not intended to amount to advice, a statement of fact, a guarantee, a representation, a condition or a warranty on which reliance should be placed but is our opinion only. We therefore, to the extent permitted by law, disclaim all liability and responsibility arising from any reliance placed on such information by you or anyone informed of its contents.
You are advised to carry out your own financial investigations and inspections into the pub to satisfy yourself as to the correctness of the above information, whether or not you can achieve these figures and as to the trading potential of this pub. You will be given a shadow profit and loss account and other details of the pub when you make a formal enquiry – this will be given within our Code of Practice which also contains other details about Everards.
Historic information is not an indicator of future performance of a pub and you should bear this in mind in your assessment.
[This information does not constitute any part of an offer or a contract and any acquisition of a pub by you is subject to our terms and conditions of agreement