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Spanish Galleon, Greenwich

48 Greenwich Church Street, Greenwich, Greater London, SE10 9BL

Boasting a prime location in London at the heart of maritime Greenwich, the Spanish Galleon is an historic 19th century pub with function room just a stones throw from the Cutty Sark.

Key features

  • Available immediately for the right applicants 
  • Great location in Greenwich, London 
  • Open plan trade area for approx. 50 covers with its very own fish & chip counter 
  • Private first floor function room with bar and toilets 
  • Trade kitchen with wash up and prep areas
  • 3 bed private accommodation on the second floor 
  • Great potential for business development at this site

Floorplan

THE SPANISH GALLEON

Boasting a prime location in London at the heart of maritime Greenwich, the Spanish Galleon is an historic 19th century pub that sits just a stone’s throw from the Cutty Sark and on the main entrance to Greenwich Borough market.

Owing to its large corner plot on Greenwich Church Street, the Spanish Galleon is a spacious open plan property housing a central feature bar servery and two drinking and dining areas with open fire places for approx.50 covers in total. Its unique selling point is its very own fish & chip counter inside the pub which serves a constant steam of  hungry customers looking for traditional style fish & chips whilst in the area.

Upstairs on the first floor you will find a private function room for approx.40 covers with its own bar servery and toilets together with a well-equipped trade kitchen, dumb waiter to the first floor, wash up and prep areas and storage.

Roomy private accommodation is situated on the second floor of the property and includes two double bedrooms, a single bedroom, kitchen, lounge/diner, a bathroom and separate toilet.

 

Following pub closures due to the pandemic, the Spanish Galleon currently only trades from Wednesday to Sunday each week and food service hours are limited to 12noon until 3pm each day.

Available immediately, the Spanish Galleon is an exciting business opportunity with vast potential for growth and development and it would suit an experienced operator looking to take on a new project in London.

For more information or to arrange a formal viewing of the pub at our open day, please  contact the Trade Recruitment Co-ordinator now on 01795 542132.

BAR & RESTAURANT   

Feature bar servery with two open plan trade drinking  & dining areas for approx. 50 covers in total. Open front Chip Shop counter with dumb waiter. First floor function room for approx.40 seated covers/70 standing with private bar and toilets

KITCHEN

First floor trade kitchen with wash up area, prep area storage and a dumb waiter to ground floor

OUTDOOR & PARKING

Not currently applicable but has the space and potential for development to include an outdoor space 

PRIVATE ACCOMMODATION

Tenant private accommodation is on the 2nd floor and includes 2 double bedrooms, 1 single bedroom, bathroom, separate toilet, kitchen and a lounge diner

Capital Requirements

Estimated capital requirements

Trading deposit£7500
Contract deposit
refundable on day of charge
£500
Repair scheme
+ monthly payments £50
£1000
Inventory£18000
Stock, glassware, cutlery, crockery, etc
Estimated subject to independent valuation by trade broker and stock taker
£5000
Working capital£3000
Training deposit
£750 refundable on completion of training
£1000
Total estimated ingoings£36000

Minimal capital considered

Minimum capital considered
Based on: Trading deposit + stock, glassware, cutlery,
crockery, etc, working capital + training deposits + misc
£36000
Please note: Where only minimal capital is available inventory will be rentalised.

Rent and charges

Rent

Year 1Year 2Year 3
Per anum£41600£42744£43992
Per week£800£822£846

Council tax

Band C

Non Domestic Business Rates

RATEABLE VALUE - £77,600

MULTIPLIER - 0.512

ESTIMATED RATES PAYABLE (Until 31/03/2022) - £ TBA

ESTIMATED RATES PAYABLE (From 01/04/22 ) - £ TBA

NOTE: 

  • Retail relief for the hospitality industry is reduced to 66% rate relief for the remainder of the rating year until 31st March 2022
  • The above calculations are estimations only and as rateable values are  subject to change, we would request that the prospective new tenant checks the rates payable and any other relief with the local authorities prior to completing a financial plan

Trading information

Trade

Year ending 30 June

2017 2018 2019 2020
All beer and cider
Barrels
246 256 263 164
Wine
Gallons
650 701 651 467
PPS
Gallons

Premium packaged spirits (eg WKD)
19 15 8 3
Traditional Spirits
Gallons
79 103 131 85
Minerals
Ready to drink litres
6231 6156 6779 4461

Estimated food turnover

(2019 net approx.) £196,279

 

Shepherd Neame has no access to the tenant's food turnover figures. Please note this figure is estimated as accurately as possible at time of publishing.

Estimated awp profit (Amusement with prizes)

(2019 net approx.) £3106

Licence information

Hours authorised by the premises licence

Supply of alcohol, background music and provision of late night refreshment.

Monday - Sunday - 08.00 - 02.00

Open to the public

Monday - Sunday - 06.00 - 02.30

Live music

Monday - Sunday - 10.00 - 01.00

Agreement Overview

  • This pub is being offered on a fixed term tenancy outside of the Landlord & Tenant Act 1954 Part II
  • This is a fully tied agreement across all beer, cider, wine, PPS, spirits and minerals
  • Please note that there is a telecommunications Device installed at this property
  • Any deviation from the standard terms outlined above should be discussed at interview stage with your designated Business Development Manager
  • Please note that we require all licensees to pass the Pre-Entry Awareness Training Course (PEAT) a minimum of five days before you can attend a formal shortlist interview with us. Please ask us for more information about PEAT if required
  • You can see our code of practice at the top of this page