Incredible Pub And Hotel Opportunity In London For Sale

Business description

This fantastic opportunity is to take over the Management of our public house in London. A prime public house in a strong university area and just a stones throw from a premiership football stadium. The pub also has an extremely strong live music following, putting on many live music events during the month with a number of key contacts (including Sony Music) utilising the space - boosting wet and dry sales during these events. The contract will begin as a 5 year Management Agreement to take over the running of the entire building (public house downstairs and multiple lettings rooms spread over the 3 upper floors).

We are about to submit planning to turn the rooms on the upper floors into a backpacker hostel (130 beds), using our successful and proven Journeys Hostels business model (www.visitjourneys.com) to boost the revenue generating capabilities of the property vastly. When the planning is approved, the Management Agreement will then be replaced by a 10 year sublease and 5 year franchise.

The rent on the building initially is £80k/yr and the building currently takes around £360k turnover (with around a 40% profit margin). This will be boosted significantly to around £750k/yr turnover (again with around a 40% profit margin), but the rent will be increased somewhat to cover this vast boost in revenues, the cost of the refurbishment works and the fact that you have been given a 'turn-key' business, ready to operate from day 1 with advance bookings and full head office support team.

So to break the costs down, this incredible and unique opportunity is available for;

£35k premium
£20k rent advance/deposit (2 months deposit + 1 month rent advance @ £80k/yr)
£7k stock
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TOTAL of £62k (£13,333 of which is a secure deposit)
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If you'd be interested in finding out more, or would like to find out more about this incredible opportunity, please call Stephen Moore or Sean Fox at Journeys.

Property information

Living accommodation:

NUMBER OF BEDS: 100+ after refurb

Location:

Central London

Other information

Website:

www.visitjourneys.com