The Old Ram in Norfolk is a large food led venue which boasts 11 letting rooms. It set on the outskirts of Norwich and it is within striking distance of Great Yarmouth. This business presents a great opportunity for an enthusiastic operator.
TRADING AREA AND PRIVATE ACCOMODATION
The Old Ram Coaching Inn has a large trading area which consists of a function room and a main restaurant area. There is also a beer garden, patio and a large car park. This pub also has a large catering kitchen to accommodate for the food sales of the business. There are 11 letting bedrooms which offer an additional source of income for the business.
There is presently no on-site accommodation; however one of the family bedrooms to let could be converted into a manager’s flat.
LOCAL AREA AND CUSTOMER BASE
The surrounding area is predominantly rural and the pub’s location on the A41 between Dickleborough and Long Stratton is excellent for passing trade into the centre of Norwich.
The Old Ram attracts locals and customers from further afield for dining and drinks. The pub attracts tourists visiting the area and is only 15 miles away from Norwich, which boasts a number of cultural attractions including a theatre, several museums, a cathedral, and plenty of shops.
The Old Ram Coaching Inn is currently trading at around £7.5k per week with the potential to increase to £15k per week by developing the food offer and maximising the room revenue.
We are looking for an experience operator who has previously run a food operation to cater for destination diners, locals and those staying overnight. An operator with a flair for marketing would is desirable to help grow this business.
Barrelage Discount Variable
Fair Maintainable Turnover*
Ingoing Costs £74,610
Working Capital £50,000
Training Fee £490-£750 + VAT (depending on qualifications and experience)
Security Deposit £18,500
Stock and Glassware £5,000
Legal fees £360 (inclusive of VAT)
Initial Contractual Costs **
Rent £74,000 p.a.
Service charge £1,350 p.a.
Decorating fund £0
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
**The ongoing contractual costs will vary in accordance with the terms of the specific agreement.
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