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New Clarence, Hull

Hull, HU2 8DE

Your investment

£5,000

Agreement Type

Tenancy

The New Clarence is an imposing, corner property with the look and feel of a “London Pub”. The property boasts a great location on the corner of two busy streets in the heart of the city of Hull. The area is currently undergoing massive regeneration with trendy cafés and a theatre both only a short walk away. The property itself is a traditional stone built rendered property with large windows looking out over the street. Admiral Taverns are keen to complete a refurbishment with the right operator. All in all, this is a great pub in a great location which with a strong, unique selling point and should easily be able to become a fantastic business.  The standard is excellent and would be a welcomed retreat for any publican after a long day.

The New Clarence is an imposing, corner property with the look and feel of a “London Pub”. The property boasts a great location on the corner of two busy streets in the heart of the city of Hull. The area is currently undergoing massive regeneration with trendy cafés and a theatre both only a short walk away. The property itself is a traditional stone built rendered property with large windows looking out over the street. Admiral Taverns are keen to complete a refurbishment with the right operator. All in all, this is a great pub in a great location which with a strong, unique selling point and should easily be able to become a fantastic business.  The standard is excellent and would be a welcomed retreat for any publican after a long day.

Pub Layout

The pub has a great open feel with a central bar and booth seating to the front and lose seating and tables in other areas. It does have three floors, but only the lower level is used as a trade area. Externally the pub is in equally good condition, but the externals could benefit from a revised refurbishment to make it feel even more like a “London Pub”.

The pub will always be something of a chameleon, it needs to operate in the daytime as something of a city local with good cask range, possibly live news channel etc. and a good lunch time menu. In the evenings, a strong wine/cocktails and a pre-theatre menu will ensure steady trade on account of the nearby theatre. It’s size and shape also lends itself well to a busy and lively night time venue and live music could do well as a regular feature.

Private Accommodation

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

 

Annual Rent: £TBC

Security Deposit: £2,000

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.

Quality, as opposed to value, is critical here. This pub requires someone with a good knowledge of the local market in Hull. Food experience is a must as done well, this site could easily attract 50% of its income from food. The ideal applicant will have a passion for basics being done to an excellent standard and for marketing the site using all marketing media to ensure the offer/message reaches a large audience.

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

 

 

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 – 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 – £30.10 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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