Run an Admiral Pub, Bar 29, Rugby

Prominently located in the town centre of Rugby, just off the market square, Bar 29 is an attractive community pub that attracts high footfall. The town centre is lively throughout the day with shoppers and hosts an array of nightlife in the evenings and weekends. Rugby is conveniently located near major roadways, including the M1 and M6 motorways, facilitating easy access by car to cities like Birmingham, Coventry, and Leicester. As well as this, Rugby boasts a major railway station, providing regular services to destinations including London, Birmingham, Coventry, and beyond.

Pub Layout

On entrance, there is a long well-equipped bar to the right-hand side servicing an open-plan room with the comfort of loose seating throughout. There is also a raised area at the front of the trading room which hosts live entertainment such as bands, karaoke, and DJs. The pub has multiple television screens for a live televised offer which should include offering Sky Sports / BT Sports to attract further custom. The toilets are located towards the rear of the building and are in good order. The new tenant may wish to gain a pavement licence.

Trading Style

Bar 29 is Rugby’s premier live music venue and has recently been refurbished to a very high standard. There is a fantastic range of draught lagers, bitters, ciders, and a large selection of cocktails, and it also benefits from a late 2am licence. It is a drinks-focused operation, of which the retail offer could be expanded with a sports offer, being beneficial to increase day trade and weekends prior to entertainment. The five letting rooms provide a multiple revenue stream.

Accommodation: Private Accommodation

The accommodation is spread over two floors. Currently, it has a one-bedroom studio with kitchen and lounge situated on the first floor. However, there is scope to either extend this private accommodation or create letting rooms with the additional five rooms; however, this would require some works and compliance.

Financial

• Annual Rent: £22,000 (Starting rent of £10,200 (net) per annum available)
• Security Deposit: £5,000
• Working Capital: £2,500
• Stock: £2,000
• Fixtures and Fittings: To be confirmed upon valuation – funding options may be available for the right licensee.
• Tie: All drinks categories are tied. For fully funded licensees on long-term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

BDM Vision

Bar 29 is a town centre pub with high footfall, meaning that it should trade throughout the day as well as evenings and weekends. The pub is well known as a music venue within the town, and the ingoing licensee would need a clear rhythm of the week as well as imagination to attract customers to the venue amidst the competition in the town centre. Marketing is important in this venue as well as a high standard of customer service, and an experienced licensee that is accustomed to working in a busy and high-demand setting.

Future Plans: Additional Information

• Annual Rent: This is our lowest rent figure associated with a Full Tie. If the tie is reduced, the effective rent (via Tie Release Fees) will increase. Rent is billed and paid for weekly in advance depending on the payment terms agreed.
• Security Deposit: This sum of money will be held on your account and will be returned to you on exiting the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long-term agreement.
• Working Capital: This is a recommended amount required which will be used in the day-to-day running of the business.
• Stock: This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, and any unopened/opened kegs and cask ale providing the container is unopened.
• Fixtures & Fittings: This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free-standing or hung by a nail or hook. This will also include furniture.
• Tie: All drinks categories are tied. For fully funded licensees on long-term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

Training

£350.00 – Before signing a long-term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost: £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you peace of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff.

*Zero Business Rates: Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes. Please note, this only applies to pubs marked with an Asterisk *