LEASING OPPORTUNITY
SUBSTANTIAL REFURBISHMENT PLANNED
Rental range - £46,705 to £60,433 pa plus VAT
Colliers International 9 George Square GLASGOW G2 1DY +44 141 226 1000
www.colliers.com/uk/leisure
The Halt Bar, 160 Woodlands Road, Glasgow, Glasgow, G3 6LF
� Establishment licensed unit in Glasgow's West End close
to Charing Cross and Glasgow University
� Located in a good licensed position in a desirable and
accessible location
� Punch Taverns has a funded investment approved in
principle with circa £250,000 spend, to include new
fixtures & fittings
� Available on a new lease or tenancy agreement
CONTACT US
Viewing is strictly by prior appointment with Colliers International, through: Paul Shiells Licensed & Leisure +44 141 226 1076 [email protected]
Property Ref: 21604
The Halt Bar, 160 Woodlands Road, Glasgow, Glasgow, G3 6LF
LOCATION
The Halt Bar is a highly visible corner site on Woodlands
Road, in the West End of Glasgow just to the west of Charing
Cross. The bar is well established and has gained a good
reputation in a local residential area benefitting from a high
student population and many residential flats.
AREA DEMOGRAPHIC
Over 640,000 people live within 5 miles of the Halt Bar
The local student population offers a strong opportunity for
incremental trade.
DESCRIPTION
The proposed trading areas will be comprehensively
refurbished (subject to receiving Local Authority permission)
and will provide:
- New external signage and lighting
- Versatile open plan trading area
-Stunning feature gantry
-Comfortable and stylish lounge
-Partially open plan kitchen
- New fixtures and fitting throughout
-Potential to develop an outdoor drinking space
An indicative trading plan/layout is shown above and further
details are available upon request.
OPPORTUNITY
Punch Taverns is looking to complete a transformational
investment at The Halt Bar and these plans are expected to
cost in the region of £250,000. The works will fully refurbish
the external and internal trade areas, and incorporating new
fixtures and fittings.
Once the works are complete the bar should be re-positioned
as a quality mid-market venue with a strong food offer and a
good range of drinks to include speciality beers, cask ales and
fine wines.
Full details of the proposed design with theme, sample and
mood boards, proposed finishes, indicative perspectives and
indicative floor layouts are available upon request.
RATEABLE VALUE
The property is assessed as a Public House with a Rateable
Value of £26,200 (effective 1 April 2010).
LICENCES
We understand that a Premises Licence has been granted for
the property.
TENURE
Punch Taverns offers you a choice of agreement, either a
lease or a tenancy.
Choosing a lease gives you access to their full range of
benefits including membership of the on-line Punch Buying
Club, free of tie concessions on Wines, Spirits Minerals and
local Ales and participation in their volume growth incentive
scheme.
Choosing a Tenancy involves fewer contractual liabilities with
less risk and comes with membership of their online Buying
Club and free of tie on Wines and Spirits.
The Halt Bar, 160 Woodlands Road, Glasgow, Glasgow, G3 6LF
ESTIMATED INITIAL INVESTMENT
The ingoing partner will require to make an initial estimated
investment of around £36,286 which comprises the following:
£ 11,250 Fixtures & Fittings (estimated)
£ 8,000 Stock & Glassware (estimated)
£ 5,000 Estimated Working Capital
£ 9,341 Deposit (between 20% and 25% of annual rent)
£ 1,195 Foundation For Success Training
£ 1,500 Legal fees/valuation/licensing/survey
TERMS
Rent Guide-
The level of rent is directly related to the discount you agree
for your target number of tied beer barrels.
All Punch Taverns pubs are available with full discounts for
your tied beer but the advantage of leasing a pub with Punch
is that you can choose to keep your fixed rent low by agreeing
to pay more for your target number of tied beer barrels. Any
barrels you buy above your target are sold to you at full
discount through a rebate in their volume growth incentive
scheme.
Punch Buying Club Option 1 - Annual rent £46,705 (£100
tied product discount/barrel)
Punch Buying Club Option 2 - Annual rent £60,433 (£160
tied product discount/barrel)
The rent for this pub has been calculated following guidelines
published by the Royal Institution of Chartered Surveyors. It is
based on an estimate of the profit this pub should be capable
of producing when run by a reasonably efficient operator. In
the same way the figures below for earnings, turnover and
FMT beer barrels are all estimates for a reasonably efficient
operator. You may believe you can do better or worse than
these estimates therefore you must make your own
assessment of the potential of the business and you must take
independent professional advice to build your own business
plan for the pub
FIXTURES AND FITTINGS
The investment in Fixtures and Fittings (see above) represents
the amount payable at the start of your agreement. The
remainder is subject to sales agreement payable over an
agreed period of time.
TRADE
An estimate of trade potential has been supplied by our clients
and this is in the order of £421,000 per annum. Further details
are available upon request.
Trade history-
Total Ale, Lager and Cider deliveries (including. free gifts):
Last 12 months - 318 barrels
1-2 years ago - 320 barrels
(1 barrel = 36 gallons = 288 pints)
STOCK AND GLASSWARE
Included as part of your initial investment
VAT
VAT is payable
LEGAL COSTS
Each party will be responsible for their own legal costs
incurred in the transaction however the ingoing tenant will be
responsible for any registration costs and Stamp Duty Land
Tax.
FURTHER INFORMATION AND VIEWING
Contact Paul Shiells of Colliers International on 0141 226 1076
(DD) or 07831 640777 (mobile).
Misrepresentation Act Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. 01/08/2012 Colliers International is the licensed trading name of Colliers International Property Consultants Limited. Company registered in England & Wales no. 7996509. Registered office: 9 Marylebone Lane, London W1U 1HL