McMullens Tenancies
The Globe, Codicote
Key Features
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