tenancy
Endike Lane, Hull HU6 7UP, UK
Approx. Total Ingoings
£22,500Annual Rent
£54,000The Cross Keys Hotel is a superb large and diverse pub located on a busy main road within a dense residential area of Hull. The pub is traditionally decorated throughout with wooden flooring and carpet to naturally separate the pub games area games area from the bar and lounge and dining area. The Cross Keys Hotel is serviced by two separate bar areas allowing the publicans to accommodate a large number of guests during busier times. The pub boasts Sky TV which has proven popular amongst the locals and regulars. The large lounge bar serviced by a well-equipped catering kitchen for the extensive daily food offers which are often very busy and nine letting rooms furnished to a good standard with regular bookings. There is car parking for around 30 vehicles at the front of the pub along with a small patio area with seating. We are looking for a publican who has experience in running a strong wet-led trade but has some catering experience.
Private Accommodation: The Cross Keys Hotel also has a private furnished flat in good condition. The flat includes three bedrooms, a lounge, kitchen and bathroom
Indoor trading area
Inside the Cross Keys Hotel there is a large bar adjacent to an area with a pool table, darts board and Sky TV. There is a larger lounge serviced from a separate bar and well-equipped catering kitchen. The pub is traditionally decorated throughout and has matching furnishings. Combining the smaller and larger bar areas, there is space for approximately 50 covers. The Cross Keys Hotel has a strong food offering that is already popular amongst the existing trade. There is a good-sized kitchen that is capable of servicing a varied food menu. The majority of the letting rooms are en-suite, some are smaller rooms with shared bathroom facilities. A high occupancy for letting rooms is already established, the letting rooms and pub is in very clean and good order.
Outdoor trading area
There is a small patio area to the side of the pub which and provides enough room for some outside seating during the warm summer months and an area for smoking all year round. A car park with space for 30 vehicles is available at the front of the pub.
Regional Manager Comments
This is no ordinary tenanted opportunity. Pubs such as the Cross Keys Hotel due to its scale and scope of opportunity rarely come to market. The present publicans are retiring after 18 years of developing a very successful and diverse business. This would suit a very experienced publican who has the financial resources and excellent credentials to operate a pub of this stature.
Retail Partnership Tenancy
Live Music Beer Garden Private Accommodation Kitchen Parking Cask Ale Live Sports Restaurant/Food
Approx. Total Ingoings
£22,500
Annual Rent
£54,000
Potential Turnover: £696,000 per annum
This is an estimate of the potential annual turnover of the pub business. It does not include the financial benefits of any living accommodation, which you will need to consider.
Guide Rent: £54,000 per annum, payable weekly in advance.
The Proposed Agreement: Retail Partnership Tenancy
The Landlord is prepared to discuss other Partnership agreements.
They will also discuss your purchasing options (Wines, spirits, cask, minerals and flavoured alcoholic beverages) which you can choose all, a combination or none. Tie release fees will apply.
Estimated Capital Start-up: £22,500 (excl VAT)
Often referred to as ingoings. Includes stock & glassware at valuation, deposit, refundable at the end of your agreement dependent upon your account being in good order. Up to 2 weeks rent and other contractual charges will be payable in advance. Please note, the actual deposit payable will be 25% of the final agreed rent.
In addition you will need to provide funds for professional advice and a level of working capital - the amount will be dependent on your business plan.
Estimated Fixtures and Fittings Value: £25,000 (excl VAT)
To be discussed with the Regional Manager.
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