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Hansom Cab, Leicester

Leicester, LE1 1WB

1 / 11
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Your investment

£16,875

Agreement Type

Long Term Agreement (5 Year Tenancy)
  • Great city centre location
  • Full internal and external refurbishment planned
  • Great opportunity for experienced operator

  • Sports Driven

  • Community Local

  • Food Preparation Area

  • 3+ Private Bedrooms

  • Live Music

  • Sports Teams

  • Beer Garden

Admiral Taverns is seeking an experienced and ambitious licensee to take the helm at the Hansom Cab and transform it into the go-to destination in Leicester city centre.  This is a fantastic opportunity to elevate the venue’s drinks offering beyond what the local area has traditionally seen. With a refreshed product range and the ability to attract new customers, this site provides a strong foundation for a driven and hardworking operator to build a thriving business.

We’re looking for a licensee with a solid background in delivering diverse and appealing drinks menus, ideally someone with a flair for hospitality and a clear vision for success. A passion for live sport and music will be a huge advantage, offering real potential to create a vibrant atmosphere and significantly boost sales.  Strong marketing and promotional skills will be essential, as the site sits in a competitive area but with the right approach, the payoff will be reflected in a healthy turnover and loyal customer base.  A full internal and external refurbishment is planned, giving the successful applicant a beautifully revamped venue to launch their exciting new venture from.

Description

The Hansom Cab is a good sized, terraced high street property, situated in the heart of Leicester City Centre and located just outside a bus terminal on the busy Humberstone Gate. There are plenty of shops and local businesses close by including the Corn Exchange, Curve Theatre, Leicester Market and Haymarket Shopping Centre which provide an excellent level of passing trade. Leicester is in the East Midlands county of Leicestershire, near to Nottingham and Derby and provides superb transport links to the M1 and M6 motorways and also has great access to a busy network of trainlines able to take you across the country.

Pub Layout

The Hansom Cab is accessed directly from the front door on the main high street and is a good sized, one room operation. A long bar servery along the left hand side of the pub provides ample serving room and there are various low, mid and high level seating arrangements throughout along with a pool table and darts area. To the rear of the pub, you will find both sets of toilets and also access to the enclosed rear courtyard garden space. There is a kitchenette situated behind the bar which can be used for a good back bar food offer and there is also a local pay and display car park just around the corner.

Currently, the Hansom Cab benefits from having a good day time trade due to it’s city centre location and has regular live entertainment and music events scheduled throughout the month. A very active rhythm of the week is essential at this venue and the current licensees have previously used this effectively to drive trade and footfall. Being able to push these customer focussed activities towards the day time trade and also to drive the evening custom are key opportunities at this particular venue. The drinks offer available is a good mix of value wet led draft lagers alongside a variety of spirits and bottled products, giving the customer base a healthy choice of thirst quenchers.

Private Accommodation

The private accommodation consists of four bedrooms, a living room, kitchen and bathroom and boasts its own private entrance from the main road. The private quarters will be completely refurbished as part of the let.

Annual Rent: £27,500

Security Deposit: £6,875

Working Capital: £5,000

Stock: £5,000

Business Rates: £Nil.  Based on the April 2023 rating list, the Zero 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.

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.

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

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). On occasion, our Business Development Manager will discuss a start up rent which is discretionary to an individual pub and can be discussed.

Security Deposit – This sum of money will be held on your account and will be returned to you on exiting of 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 recommend 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, 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 piece 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 Asterix *

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