Run a Star Pub - Thekaa Watford - Watford
New Yesterday
Job Description
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.
* 25% rent reduction will be applied to first 12 months following completion of a fully signed lease agreement (5 years England & Wales, 3 years Scotland) on selected properties only. No cash alternative is payable.
Features
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
Pub Financials Icon
Estimated Total Ingoing Costs
£37,796
Estimated Minimum Ingoing Costs
£13,744
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
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.
Downloads
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.
* 25% rent reduction will be applied to first 12 months following completion of a fully signed lease agreement (5 years England & Wales, 3 years Scotland) on selected properties only. No cash alternative is payable.
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
Pub Financials Icon
Estimated Total Ingoing Costs
£37,796
Estimated Minimum Ingoing Costs
£13,744
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
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.
Downloads
- Energy Performance Certificate Download arrow
- Demographics Report Download arrow
- Location:
- Watford
- Category:
- Business
