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George & Dragon, Aldbrough

Aldbrough, HU11 4RP

Your investment

£10,500

Agreement Type

Tenancy
  • Potential To Develop Letting Rooms
  • Great Village Location
  • Zero Business Rates From April 2023*

The George & Dragon is a large, attractive community pub set on a prominent corner location in a very picturesque region on the Yorkshire coast; only two miles from the sea and five miles from the famous village of Hornsea. The pub is close to three large caravan parks and is a popular destination for walkers, families and tourists throughout the summer, while the surrounding houses give an established catchment area for regular community trade all year round.

Pub Layout

The main entrance leads into the bar area with a central servery, cosy seating and a welcoming open fire alongside a games area featuring a pool table, gaming machine and darts oche. Seperate from the bar is the dining area / lounge which has a fantastic carvery servery and a mixture of loose tables and chairs. Adjoined to this is a good sized, fully equipped catering kitchen. The car park to the rear can accommodate approximately 20 cars, and there is also a fenced children’s play area with a climbing frame. Above the property is seperate private accommodation with one bedroom, lounge and bathroom. In addition there is the opportunity to further develop this business with up to 6 letting rooms, but investment would be needed to get these rooms fully operational.

 

The George & Dragon is the hub of the village all year round with popular quiz nights during the week and live entertainment such as karaoke on weekends, and there is already a strong established community following. Close by are three caravan parks which provide a boost to revenue during the holiday season, and the area is busy with walkers and tourists who use the pub to wind down after a day spent in the surrounding areas. In the summer months the children’s play area and beer garden prove very popular with families, while the letting rooms could provide an additional income stream for the business if works were carried out to update them. Although it has been recently operated as a wet only offer, food should be a significant part of the business as the pub is ideally located to become a destination dining venue.

 

Private Accommodation

The private accommodation is in good order and consists of one bedroom, bathroom, kitchen and lounge.

Letting Rooms

There is the scope to develop the business with up to 6 letting rooms, but these would need some investment to become operational.

Annual Rent £18,000

Security Deposit: £5,000

Working Capital: £4,000

Stock: £1,500

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 experienced operator with the right skills and vision to develop this site, initially as a fantastic community pub with a good food offer. At a later stage we would be interested in developing the sites potential to offer bed and breakfast so potential candidates would ideally be willing to extend the business with this third income stream. The George & Dragon has the potential to be not only a great village pub but also a destination pub offering food and bed and breakfast. It is ideally located to take advantage of the summer tourist trade, but could also accommodate contractors as it is close to the expanding Hull docklands area.

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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