Run a Star Pub - Y Llong Porthmadog - Porthmadog

Attitude is more valuable than experience. The right operator for Y Llong could be new or experienced whose team can deliver a great traditional food offer, while promoting the pub to locals and visitors.

A refurbishment investment of around £185,000 is planned to transform Y Llong Hotel into a premium local pub with food, sport and entertainment at its heart. What would you do with this pub to make it a success? Y Llong offers a great opportunity for someone who wants to take on a well-backed, refurbished pub with plenty of potential. The area: Y Llong is located in Porthmadog, North Wales, just on the edge of Snowdonia National Park. It is a historic port town, once the hub for exporting Welsh slate worldwide, and now a popular tourist base with excellent transport links. There are 1,814 people within a 10-minute walk (1,516 over 18), but the area benefits hugely from seasonal visitors, with hundreds of thousands of tourists flocking to Snowdonia, Cardigan Bay, Pwllheli and Anglesey throughout the year. Demographics: The local population is of medium affluence with a more mature age profile. However, the large influx of tourists during the summer and holiday periods significantly boosts potential footfall. Competition includes around 20 pubs within a mile, though only a handful serve food.

• Investment Tenancy
• Function Room
• Catering Kitchen
• Live Sports
• Private Accommodation
Trading Area & Facilities The Ship will be undergoing a refurbishment which will cover the bar, lounge and toilets. The function room will remain as is, having been redecorated recently. Externally, no works are planned as the pub benefitted from a full signage and redecoration scheme last year. A full list of works and pub floor plan can be found in the 'refurbishment details' in the downloads. The pub's trading area and facilities post refurbishment will be:
• Separate bar and lounge
• Large function room
• 76 internal covers
• Catering kitchen
• HEINEKEN SmartDispense®
• Sky and BT Sport
• Private accommodation
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 The private accommodation consists of a kitchen, a lounge, two bedrooms, and a 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 range from
• :
£51,394 - £51,934 Annual Estimated Annual Turnover £703,591 Annual Rent £44,326 Entry Costs Deposit £11,081 Estimated Fixtures & Fittings Value £32,353 Stock Valuation £5,000 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.