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Crows Nest, Hull

Hull, HU8 9QP

Your investment

£9,500

Agreement Type

Tenancy
  • Strong established community local.
  • Zero business rates.*
  • Stunning beer garden.

The Crows Nest is a traditional wet-led community pub located on the Longhill Estate in the eastern area of the city of Hull. Surrounded by residential properties and backing on to a small parade of retail businesses, the pub is in a great location with a large amount of passing trade. Approximately 21,000 residents live within a one mile radius of the pub, which demonstrates the huge potential this site has to offer.

Pub Layout

The pub offers a traditional two-room layout, with central bar serveries and seperate entrances from the front of the building. The main bar area has a mix of fixed and loose seating, TV screens & jukebox, with a dedicated games area to the rear featuring pool table & darts oche. The lounge bar is a large open-plan room, again with a mix of seating, TV screens and a raised seating area that could easily be utilised as a stage for live entertainment. Through to the rear of the lounge is access to the impressive beer garden, with a large lawned area, planted flower beds and covered smoking shelter. Externally to the side of the pub is a good-sized car park with enough space for 10-15 vehicles.

The Crows Nest is a 100% wet-led business that is currently home to both pool and darts teams and is well supported by the local community. The pub has a strong regular entertainment programme including bingo nights, karaoke and the occasional live artist. Although there is no catering kitchen there is sufficient space to introduce a simple back bar food offer especially in the lounge, which would bring an additional income stream. The popular beer garden is a great space to host fun days and community events during the summer months.

Private Accommodation

The private accommodation is located on the first floor of the pub, is in good order and comprises three bedrooms, lounge, kitchen and bathroom.

Annual Rent: £15,700

Security Deposit: £5,000

Working Capital: £2,000

Stock: £2,500

F&F: TBC – Funding options may be available for the right licensee

Training: £325 plus VAT

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

* Based on the April 2023 provisional rating list, the Zero Rates Payable is based on the licensee only occupying one property for commercial purposes.

We are looking for an individual/couple with local knowledge who are willing to embed themselves into the community and continue to deliver a strong weekly plan, building on the excellent work of the current licensees. Shining retail standards are a must to ensure the local clientele return time after time and make this the “go-to” pub for the local community.

 

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 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme.  Held online over three days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost – £60.89 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 and the licensee only occupying one property for commercial purposes.


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