JT’s

25 Market Square, Cornhill, Banbury, Oxfordshire, OX16 5NG
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Letting Details

Description and Trading Style

The pub should trade well with shoppers on the patio area, lunch time and mid market diners. The pubs most recent offer was Tapas. The building is in excellent decorative order with good fixtures & fittings.

Location and Local Amenities

Situated in the centre of Banbury next to some of the many car parks and its pedestrianised shopping area. JT's is well located on the local drinking circuit in the evenings and at weekends.

Accommodation

Trade: a large main bar, 35 cover restaurant, large trade kitchen, cellar, large patio to the front and 1st floor restaurant (18-20 covers).
Private: 3 double bedrooms, sitting room, large kitchen, bathroom and WC.

Current and Future Markets

We see an opportunity to develop the site, developing the food offer and returning to a more mainstream wet offer. This may include a sports bar offer.

Requirements

We are looking for an experienced high street operator who can develop the pub. With food experience. Applicants must have or be able to apply for a Personal Locence.

Estimated Ingoings

Circa £9,500 to include a security deposit (three months of base rent), rent, service charge and insurance advance, stock, glassware, loose goods, and training contribution. Fixtures & fittings are circa £15,855 plus VAT and working capital is circa £3,687.

Trade Volumes (FOT = Free of Tie) 2017 2018 2019 To 9.12.20
Draught Beer & Cider (36 gallon units) 232.08 333.01 198.30 FOT
Minerals (10 litres) FOT FOT FOT FOT
Spirits (litres) FOT FOT FOT FOT
Wines (litres) FOT FOT FOT FOT

Estimated Turnover

You will need to estimate the turnover you expect from the pub. The current barrelage is given to assist you with calculations, but you need to estimate the food sales.

Guide Rent

Annual rent is £29,500 payable weekly in advance by direct debit. Retail Price Indexation applies to rents.

Terms

Five year tenancy agreement with an additional service charge that covers property insurance, servicing of heating and cellar cooling etc. There is a full wet tie unless agreed otherwise.

Rateable value

Draft 2017 rateable value is £28,250. This is currently being challenged. Please contact the council to check actual rates payable.

Licenses & Permits

Sale of alcohol by retail for consumption on and off the premises. Provision of regulated entertainment and facilities for making music and dancing.

Permitted hours

Mon: 9am - 00.30am; Tues - Fri: 9am - 01.30am; Fri - Sun: 9am - 02.00am.

Current Offerings

Serves Food
Hold a party 
Average price of main course £12 to £18
Places to Walk
Garden / Patio
Watch Sports
Family friendly
Disabled access 
Park the car
Wifi access 

Current Opening Times

Mon- Thur 9am to 1am
Fri, Sat & Sun 9am to 2am