Run a Star Pub - Mother Red Cap Holloway - London

Job Details

Pub Overview

There is a refurbishment planned to spend in the region of £263,000 to transform the Mother Red Cap into a premium local pub that celebrates its Irish heritage, strong sports offer and iconic Holloway Road location. What would you do with this pub to make it a success?

About the area

Mother Red Cap is an iconic pub on Holloway Road in North London, very close to Archway underground station. With 66,232 adults living within walking distance of the pub, the site benefits from a strong local catchment and excellent visibility in a busy high street location.

The area has a vibrant hospitality scene, with a wide range of pubs along Holloway Road, including sports-led value pubs, high-end gastro food pubs and managed houses. Mother Red Cap has been closed for nearly two years, creating a clear opportunity to relaunch a well-established pub and rebuild its role in the local community.

Historically, the pub was known as a really good Irish pub. The refurbishment will lean into that heritage while introducing a premium look and feel, multiple screens for sport, a darts throw and an improved courtyard with an external screen. This will help reposition the pub to appeal to a broader and more diverse customer base, including younger professionals looking for after-work socialising, sports fans and local residents looking for a welcoming premium local.

The offer

Mother Red Cap is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the Refurbishment Details section for details of the investment being made.

If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring. The right operator for Mother Red Cap will have extensive experience in premium local hospitality businesses, particularly those with strong drinks, sport and community-led appeal. They will have a clear vision for the drinks range, sports offer, entertainment, Irish heritage and marketing strategy, and can create a memorable experience for their customers.

If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter...

Features

• Investment Tenancy
  
• Private Accommodation
  
• Outdoor Trade
  
• Live Sports
  
• Pub Games
  

Trading Area & Facilities

The refurbishment of the pub will cover both the interior and exterior. A full list of works and pub floor plan can be found in the Downloads section. The pub's trading area and facilities post refurbishment will be:

• Main trading area with bar
• Snug area
• Separate games and sports zone
• 50 internal covers
• 16 external covers
• HEINEKEN SmartDispense
• Refurbished private accommodation with three bedrooms
• Pub garden / courtyard
• Multiple screens
• Darts throw

Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.

Where a significant investment is made in a pub by Star Pubs, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).

Private Accommodation

Private accommodation consists of 3 bedrooms, a kitchen, living room, and bathroom.

Pub Financials

Pub Financials Icon
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.

Indicative entry costs

£63,419

Annual

Estimated Annual Turnover

£786,426

Annual Rent

£82,374

Entry Costs

Deposit

£20,594

Estimated Fixtures & Fittings Value

£26,825

Stock Valuation

£12,500

Working Capital Required

£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

• Demographics Report Download arrow
• Energy Performance Certificate Download arrow