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Slide Admiral COVID-19 licensee support and Rent policy - Please click here (last updated September 25th) ‘RISING FROM LOCKDOWN' - GUIDING YOU THROUGH COVID RENT DISCOUNTS AVAILABLE OF UP TO 40% In accordance with our rent policy A letter from our CEO to our licensees - September 24th 2020
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YOUR INVESTMENT

£11,000

AGREEMENT TYPE

Five Year Agreement

FACILITIES

3+ BedroomsFunction RoomLive MusicKitchenSports TeamsCar Park
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Foredyke

Hull, HU7 4EE

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OR CALL 01244 321 171 FOR MORE DETAILS

The Foredyke is a detached pub located next to the North Point Shopping Centre in Bransholme. Clientele is made up of blue and white collar workers and it benefits from being surrounded by housing thanks to its central location on the Bransholme estate.

Pub Layout

On entering through the main door, you enter the bar which is the main drinking area. The bar servery is located to the right side and to the far-left hand side is a pool and darts area.  Surrounding the bar and sports area is fixed and loose seating for up to 50 covers. Located by the bar servery is a corridor which leads into a lounge/function room which is unused at present however this could be easily marketed to cater for birthdays, christenings and funerals as it is separate to the main drinking area. The catering kitchen is located to the right side of the bar servery. There is a large free car park located to the front of the pub that is shared with the shopping centre.

Admiral Taverns has taken the decision to close the Foredyke in order for a refurbishment to take place. The vision for this pub to create a quality community pub offering a wide range of drinks and a traditional value for money food offer. The pub should cater to the wider community opening from the early hours to offer a breakfast and coffee menu which will attract the day time shoppers. Food should be served throughout the day into the early evening coupled with some themed nights such as curry and steak nights. Also a productive rhythm of the week should be introduced such as quiz nights and live sports to ensure the pub remains the hub of the community. The refurbishment planned will consists of exterior signage and lighting to improve the pavement appeal and attract new customers. Internally, we plan to develop the catering kitchen, update the ladies and gents toilets and also decorate both the lounge and bar areas adding new fixtures and fittings to the pub. We would welcome the input and ideas from the new licensee as we want to provide a business which will then give you the tools needed to run a successful business.

Private Accommodation

The private accommodation is located on the first floor and consists of three bedrooms, lounge, kitchen and bathroom and is in reasonable order. The new licensee may wish to put their own stamp on the private quarters making it feel homely and to their taste.

Annual Rent: £20,000 (After refurbishment)

Security Deposit: £5,000

Working Capital: £3,000

Stock: £3,000

Fixtures and Fittings: Upon Valuation  –  Funding options 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.

Training: £250 plus VAT

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

We are looking for a passionate licensee who has the skillset to deliver a good value food offer throughout the day. Experience is not key however this opportunity may appeal to someone who may have managed a pub in the past and are looking to take the step into running their own business. We can guarantee that you’ll have the support from various stakeholders throughout Admiral such as marketing, food development, training and finance which will enable you to grow and develop this fantastic community pub and attract a new clientele. You will need to grow the income streams by introducing a ‘rhythm of the week’ with regular entertainment, quizzes, live sports and other activities that are popular within 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)

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

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

Training – This is required when taking on a Business Support Agreement.  Included is an e-learning package for you and your staff and attendance to our ‘Set Up To Succeed’ workshop held at our Head Office in Chester.  Please note, you will be required to attend this workshop before signing a long term tenancy agreement.

Service Charge Cost – £28.01 per week – This is a weekly charge that includes statutory compliance certification (including Annual CP12 and CP42 gas test), cellar cooling services (including full insurance to cover repairs and / or replacements), Health & Safety Essentials (including assessments) and Licensing Support.

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