•The London Hotel is a large community local situated in the popular tourist destination of Llandudno. There are great prospects for the future operator to capitalise on the summer trading opportunities.
•The London Hotel is a modern single room operation serviced by a long central servery. The seating is predominately loose furniture and there are also some leather sofas and coffee tables. The front of the London Hotel is furnished with patio tables and chairs.
•The London Hotel is situated on the main shopping road in Llandudno and it is only two minutes’ walk from the promenade, the Great Orme and many other attractions.
•The London Hotel has a strong local following and benefits from darts teams. The customers are attracted to the live entertainment, quiz nights and food. There is an opportunity to extend the food trading times and food offer along with developing a cask and craft ale following.
•The large private accommodation is in good condition and compromises a lounge, three bedrooms, a bathroom and a kitchen.
•The London Hotel is currently trading at £9,000 per week with an 80/20 wet/dry split however it has the potential to achieve £12,000. The pub has a huge following for live entertainment however this could be expanded. The new operator would need to review the food offer and implement quality dishes that will attract more customers from the local market and seasonal tourists.
Barrelage Discount £59
Fair Maintainable Turnover* £478,096 p.a.
Working Capital £7,000
Training Fee £550+VAT
Security Deposit £750
Stock and Glassware £5,000
Legal fees £350+VAT**
Initial Contractual Costs ***
Rent £42,000 p.a.
Service charge £1,350 p.a.
Decorating fund £2,000 p.a.
Insurance £1,000 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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