Description and Trading Style

The Red Lion is extremely welcoming. It appeals both to a locals/regulars and visitors from the immediate village, and surrounding areas.

Location and Local Amenities

The Red Lion sits on the main road into Cholsey from the larger town of Wallingford. There are plenty of shops and amenities in Wallingford, including a station with good rail links. Cholsey is also close to Didcot, Pangbourne and Newbury.

Accommodation

Trade: 2 bars, large restaurant areas (approx 80 covers in total), trade kitchen, office, utility, cellar, WC's incl disabled, stores, garden, front seating, (approx 40 covers outside) car park.

Private: 3 double bedrooms, WC, shower room and sitting room.

Current and Future Markets

Currently the Red Lion is trading as a village pub with a wide customer base and there is an opportunity to further develop the food operation.

Requirements

This pub could be right for either an experienced operator or a talented first time tenant. Applicants must have or be able to apply for a personal licence.

Estimated Ingoings

Circa £15,710 to include a security deposit (3 months of base rent), rent, service charge and insurance advance, stock, glassware and loose goods, training contribution. Fixtures & fittings are circa £16,000 and working capital is circa £4,800.

Funding options are available for the right operator.

Estimated Turnover

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

Guide Rent

Turnover based rent 9%. Payable weekly in arrears by direct debit.

Terms

Five year tenancy agreement with additional service charge that covers property insurance, servicing of heating and cellar cooling equipment etc.

There is a full wet tie unless agreed otherwise.

Rateable value

Draft 2010 figure £22,200. Please contact the local authority to find out actual rates payable.

Licenses & Permits

Sale of alcohol by retail for consumption on and off the premises, film exhibition, live and recorded music.

Permitted hours

Mon - Thurs: 10.00 am - 00.30am, Fri & Sat: 10.00am - 01.30am, Sun: 10.00am - 00.30am