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Grafton Hotel, Hull

Hull, HU5 2NP

Your investment

£7,000

Agreement Type

Tenancy
  • Flexible terms available.
  • Great location in a vibrant student area.
  • Zero business rates.*

The Grafton Hotel is a detached property nestled among the Newland Avenue area of the city, just ¾ of a mile from the city centre. Newland Avenue is a popular vibrant area close to Hull University which is home to numerous bars and restaurants frequented by the student population. The pub itself is located on Grafton Street, a residential area consisting of terraced housing with a number of these let to university students.  This iconic pub is famous for its links with the Housemartins and the Beautiful South as front man Paul Heaton lived locally and the Grafton was a favourite watering hole for both bands, providing inspiration for some of their lyrics.

Pub Layout

The trading area is divided into a traditional two-room layout, with both rooms served by a central bar.  The main bar area is accessed from the car park and features a mixture of fixed and loose seating, TVs and a pool table.  The second bar area also features a mix of fixed and loose seating, TVs (including a large screen projector) and darts oche, and is regularly used as a function room as it has its own bar and toilets.  This room is ideal for meetings, parties, christenings and hosting live entertainment.  Outside the pub, there is a drinking terrace to the front of the building with bench seating and overhead lighting.  To the rear of the property there is an enclosed beer garden with bench seating and a timber gazebo, and to the side of the pub is a good sized car park with space for up to 15 cars.

The Grafton currently trades as a drinks-focused community local, with a focus on live entertainment. The strong regular trade is mainly driven by early evening and weekend custom, with established pub sports teams and well supported weekend karaoke/live music events. The local student population provide an additional income stream, with the pub currently opening from 1pm through to midnight seven days a week.

 

 

 

Private Accommodation

The private accommodation is in good order and consists of a lounge, kitchen, bathroom and three good sized bedrooms.

Annual Rent: £17,000

Security Deposit: £4,000

Working Capital: £2,000

Stock: £1,000

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

The Grafton is already a very popular community pub with a good reputation in the local area. Licensee (s) will need to deliver consistent high standards and a variety of activity to ensure the business maximizes sales and remains the hub of the community. A passion for pub sports and live music would be beneficial especially with its iconic music heritage. In addition with some investment a back bar food offer could be introduced for applicants with the right catering skills.

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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