Pub Tenancy

McMullens Tenancies

HitchinAnnual Rent £18,000 Full time

The Globe, Codicote

Key Features

  • High street location
  • Courtyard Garden
  • Car Park
  • Live events

The Globe is a small but picturesque pub on the High Street of Codicote just outside Hitchin. With housing development in the area and only one other pub this site has a fantastic opportunity to grow long term. Inside there is a central serving bar with 30+ seats for both drinking and dining occasions. This site can be a real chameleon with steady trade throughout the day increasing in tempo in the evening and weekends with live sports and entertainment. It boasts a courtyard garden with an outbuilding fit for outside viewing and summer events. The kitchen is small but is large enough to provide a small pub classic food menu or even something a little more unique. We are looking for a wet let tenant that can drive strong mid-week trade to complement its busy evening and weekend event trade.

The Details

Agreement Type – 5 Year Tenancy – Available under a Tenancy At Will

Annual Rent - £18,000 – (TAW rent negotiable)

Deposit - £5,000

Barrelage – 142 BBrls

Tie – All beer and cider

Estimated Annual Net Turnover - £292,070 (20% food)

Estimated Fixtures & Fittings - £12,000 (option to be rented)

Advance Rent - £1,500 Net (plus insurance)

Working Capital Inc Stock - £8,000

Estimated Total Ingoing Costs - £25,000

Estimated Minimum Ingoing Costs - £6,500