Run a Star Pub - Thekaa Watford - Watford

Pub Overview

Thekaa is situated on Watford's busy high street parade. Surrounded by a number of well-known high street bars and nightclubs, Thekaa puts itself above the rest by being the premium, independent venue. Local demographics are a broad range due to the attraction of the high street shops, restaurants, bars and entertainment venues.

Being on the high street there are a number of reasons for people to go to Thekaa but the large shopping centre is at the other end of the High Street and Watford Football Ground is less than a mile away. The paved area outside the venue has 2 large events a year which is a great footfall driver.

Currently operating as a late evening cocktail and wine venue that shows music/movies at weekends. Small food offer of Pizzas and smaller plates. No machines or sports due to the venue type.

Thekaa needs to be a chameleon style venue that offers coffees and pastries in morning for commuters and workers/hot desks. Need to have a unique high quality food offer to compete with the likes of The Florist and chain bar/restaurants. Lunch time bottomless brunches at weekends with great events, movie nights, comedy nights. Needs to have a real Unique Selling Point.

Features

Live Sports

Catering Kitchen

Music Venue

Cask Ale

Foundation Tenancy

Trading Area & Facilities

Thekaa has a great open drinking and dining space with a secret covered courtyard. A large/oversized open fire with multiple years worth of melted candle wax covering to bring a rustic and classic feel.

Private Accommodation

None

Pub Financials

Annual Rent £
26,925
Estimated Annual Turnover £
414,044
Deposit £
6,731
Estimated Fixtures & Fittings Value £
19,565
Estimated Stock Valuation £
8,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
37,796
Estimated Minimum Ingoing Costs £
13,744

The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.

Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.