The Coopers Arms is a large destination food pub with a good local reputation, located on a main road between Mansfield Woodhouse and Warsop.
TRADING AREA AND PRIVATE ACCOMMODATION
The Coopers Arms is a large brick built property on a huge plot of land. Internally the pub is very well presented with a distinctive lavish style and décor. The pub has capacity for approximately 110 covers. Although open plan, the site is divided into four separate trading areas: a conservatory to the front of the pub, a 60 cover restaurant area and a 50 cover lounge. Furthermore there is a snug area with three amusement machines and comfortable furniture. The Coopers Arms has a large, fully equipped trade kitchen and food preparation area with ample storage space. To the front of the pub there is a car park for around eighty cars, a beer patio and alfresco dining area. There is also a beer garden located between the pub and the main road.
The private accommodation compromises three double bedrooms, a large lounge, a kitchen, a bathroom with WC, a store room and a cloakroom.
LOCAL AREA AND CUSTOMER BASE
The Coopers Arms is located in a predominantly residential area comprising privately owned detached and semi-detached homes. These are typically occupied by families with older children. It is approximately half a mile from the centre of Mansfield Woodhouse and two miles from Warsop. There are three schools close to the pub and a further three within one mile. The area has good road, rail and bus links to Mansfield and Nottingham and Sherwood Forest itself is only three miles away.
The Coopers Arms attracts many local residents through word of mouth, and passing trade too. Its strong reputation has been established over the past eight years. The new operator should look to enhance the digital presence of the pub, with a new website and enhanced social media usage to attract customers from outside the local area. New signage will also be installed on the change of tenancy.
Currently the pub is trading at £12,000 per week with a 60/40 wet/dry split, however with the right marketing it has the potential to achieve sales of £14,000 per week.
The new operator will need to have experience with food as they may wish to simplify the menu and also offer more seasonal options. The wet offer should remain largely unchanged although new wines could be added to the wine list. The successful applicant will need to attract teams to the site as this is an area that is presently unexplored.
Barrelage Discount £50
Fair Maintainable Turnover* £615,281 p.a.
Working Capital £6,000
Training Fee £550+VAT
Security Deposit £11,750
Stock and Glassware £3,000
Legal fees £350+VAT**
Initial Contractual Costs ***
Rent £47,000 p.a.
Service charge £1,350 p.a.
Decorating fund £2,000 p.a.
Insurance £520 p.a.
Once you’ve agreed the purchase terms for the fixtures and fittings you will not be charged for any additional ingoing costs by Marston’s, other than those detailed above.
*Figure taken from Marston’s rent assessment
**An estimated figure and subject to completion within 8 weeks
***The ongoing contractual costs will vary in accordance with the terms of the specific agreement
****You will need to obtain independent advice from a qualified accountant, RICS qualified surveyor and a qualified solicitor at your own cost
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