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Falcon, Hull

Hull, HU9 5HA

Your investment

£9,000

Agreement Type

Tenancy
  • Zero Business Rates*
  • Established Community Local
  • Opportunity To Develop Food Offer

The Falcon is a wet led community pub located on the Great Field Estate in the east of the city of Hull. This popular venue is nestled amongst a large community housing estate and the demographics show a population of more than 13k within a one-mile radius. The pub is also located close to Kingston Rovers Rugby Stadium and benefits from supporters attending regular home games.

Pub Layout

The Falcon is a traditional wet led community pub with two separate trading areas including a large lounge with ample fixed seating and small tables, and a separate bar with pool area. To the front of the pub is a beer terrace and to the rear is a large, enclosed car park capable of parking up to 20 vehicles.  The car park is also a great opportunity for holding community events as it is large enough for things like bouncy castles, food vans.

The Falcon is a wet led community pub, the pub currently does not offer food but does have a separate catering kitchen. It would require a small investment to get this operational and offers an opportunity for growth. Due to the sports focused demographic, this site mainly operates as a great place for locals to get together for a few drinks before and after a rugby game.

There is potential to increase footfall with the benefit of having large rooms to offer live music, karaoke and community events.  This would be a great opportunity for somebody to develop the pub in terms of the above, and also look into adding things like cask ales.

Private Accommodation

The private accommodation consists of three bedrooms, lounge, kitchen, dining room and bathroom.

 

Annual Rent: £15, 000

Security Deposit: £5,000

Working Capital: £2,000

Stock: £2,000

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 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.

This is a well-established popular community pub that benefits from its location close to the Hull KR Stadium and the fact there is a relatively low number of other pubs close by. The experience and qualities we consider desirable to run this popular venue include drive and enthusiasm and ideally someone who is passionate about running a local community pub. An interest in sport especially Rugby League would be beneficial but more importantly the need to maintain good standards and deliver regular activity such as quiz/bingo, occasional karaoke and fund raising for the benefit of the local community is key to continuous success.

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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