Run a Star Pub - Cross Keys Swanwick - Alfreton

Attitude is more valuable than experience. If you've got the following, we'd love to hear from you.

• Understanding of the local community
• You know what it takes to build a successful business
• You love hospitality and are great with customers.
  
  The Cross Keys is located in a suburban area of Swanwick, close to a main road and surrounded by lots of nearby housing developments. With 4,569 adults within a 20-minute walk, the pub is well placed to serve its local community and benefit from strong regular trade.
The pub's existing customer base is predominantly wet-led and drinks-focused, but the refurbishment will reposition it to appeal to a broader, more diverse customer base, including families and casual diners. The Cross Keys is not the only pub in the area, but it is only one of a handful of pubs nearby, and with competitors described as worn or underinvested, this investment creates a real opportunity to stand out., A both internal and external refurbishment is planned at the Cross Keys, with an estimated investment of £203,000. The scheme is designed to refresh the look and feel of the pub, improve its facilities and help reposition it for modern customers in the local area. Unlike standard terms for Investment Tenancies, we're offering the option to rent the Fixtures & Fittings for this pub. Ask us for more information! What's happening? The planned works will focus on the areas that can make the biggest difference to trade. The kitchen will be refurbished to support a small food offer, creating a point of difference in the area as the brief notes that no one else offers food locally. New external signage will improve kerb appeal and help set the pub apart from neighbouring underinvested sites, while an internal sparkle and upgraded sports amenities will help the Cross Keys look and feel stronger than the competition. These improvements create the opportunity to rebuild the pub's reputation in the local community and better match the demographics of the area. The pub is suited to a value-led food offer with simple dishes such as burgers and nachos, alongside a strong drinks-led and sports-focused experience. The entertainment and games offer also has room to improve, so the successful applicant will need to make the most of the upgraded environment and create a welcoming, consistent community local.


• Investment Tenancy
• Refurbishment Planned
• Live Sports
• Pub Games
• Car Park
• Outdoor Trade
• Childrens Play Area
• Private Accommodation
Trading Area & Facilities The refurbishment of the pub will cover both the interior and exterior. A full list of works and pub floor plan can be found in the Downloads section. The pub's trading area and facilities post refurbishment will be:
• Main trading area with bar
• Snug area
• Separate games/sports zone
• 61 internal covers
• 64 external covers
• Catering kitchen for a very small food offer, suitable for sport menu items such as burgers and nachos
• HEINEKEN SmartDispense
• Three-bedroom private accommodation with kitchen, lounge and bathroom
• Pub garden
• Large car park with 40 spaces.
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process. Where a significant investment is made in a pub by Star Pubs, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016). Private Accommodation Three-bedroom private accommodation with kitchen, lounge and bathroom. Pub Financials Pub Financials Icon With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term. Indicative entry costs £35,685 Annual Estimated Annual Turnover £294,616 Annual Rent £18,740 Entry Costs Deposit £4,685 Estimated Fixtures & Fittings Value £20,000 Stock Valuation £7,500 Working Capital Required £3,500 The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT. Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms. The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds. Refurbishment Details
• New External Signage
• Refitted Commercial Kitchen
• Refurbished Private Accommodation
• New Pub Games Zone
• Interior Decor Refresh, This is an investment aimed at unlocking underused potential. The Cross Keys has a strong local catchment, sits on a main road, benefits from a large car park, and has the chance to trade more effectively with an improved kitchen, stronger external presence and better sports and entertainment facilities. The refurbishment is expected to increase turnover from £1,500 to £5,665, showing the scale of opportunity available through the planned transformation. To explore some of our recent successful pub investment projects, please see our Investment Showcase page .