The Kings Head is a traditional country pub and reputedly the oldest inn in Allendale. It is in the heart of the market town and offers a warm welcome with home cooked food and quality cask ales.
TRADING AREA AND PRIVATE ACCOMMODATION
The Kings Head is a beautiful Grade II listed building with a lounge and central bar complete with an open fire which is perfect for the winter months. The dining area lies adjacent to the bar at the rear of the pub and this space could readily be changed for entertainment or events. The catering kitchen is conveniently situated off the bar. To the rear of the spacious dining room is an enclosed, attractive beer garden.
Located on the second floor, there are five letting bedrooms and they all have private en-suite facilities. The private accommodation benefits from two bedrooms, a lounge, a kitchen and a bathroom.
LOCAL AREA AND CUSTOMER BASE
The Kings Head occupies a prime site in the heart of the town and it is surrounded by a mix of residential and commercial properties. Allendale has a very broad appeal and attracts tourists throughout the year who enjoy walking, cycling and visiting local attractions such as Hadrian's Wall, the Lake District and much more.
The pub currently has a strong local following. The current food and drinks offer gives the site a wide audience and in the summer, the letting rooms could help the pub capture some of the tourist visitors.
The Kings Head currently trades at £3,000 wet and £1,500 dry per week.Under the right operator the Kings Head has the potential to increase sales to £5,000 per week. There is scope to drive sales further with a focus on a good food offering and by developing the letting rooms side of the business.
The successful applicant will be a hands on operator with the ability to produce a good traditional food menu. They will know how to engage with both locals and visitors and also drive business by engaging with pub teams. The Kings Head is known for its traditional cask ale bar and the ideal applicant would be passionate and knowledgeable about this part of the business.
Barrelage Discount £70
Fair Maintainable Turnover* £234,464 p.a.
Ingoing Costs ****
Working Capital £3,000
Training Fee £550+VAT
Security Deposit £5,000
Stock and Glassware £3,000
Legal fees £500 + VAT **
Initial Contractual Costs ***
Rent £21,500 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 also need to obtain independent advice from a qualified accountant, a RICS qualified surveyor and a qualified solicitor at your own cost
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