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.
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.
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.
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 deposit. Fixtures & fittings are circa £28,000 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|
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.
Post Covid rent will be stepped for new tenants in year one to help build the business – steps to be agreed. Annual rent is £29,500 payable weekly in advance
by direct debit. Retail Price Indexation applies to rents.
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 valueDraft 2017 rateable value is £28,250. This is currently being challenged. Please contact the council to check actual rates payable.
Licenses & PermitsSale of alcohol by retail for consumption on and off the premises. Provision of regulated entertainment and facilities for making music and dancing.
Permitted hoursMon: 9am - 00.30am; Tues - Fri: 9am - 01.30am; Fri - Sun: 9am - 02.00am.
Current Opening Times
Mon- Thur 9am to 1am
Fri, Sat & Sun 9am to 2am