Old Crown Inn Sheffield
137 London Road, Sheffield, S2 4LEAgreement Type:
Investment Tenancy
View details for Old Crown Inn Sheffield
Lord Nelson Hotel Hull
Lord Nelson Hotel Hull
163, Endike Lane, Hull, HU6 7UA Pub Code: 2303375101
Pub Code: 2303375101
Investment TenancyEst. Annual Turnover: £405,465
Annual Rent: £23,291
A refurbishment of around £218,000 is planned to give the Lord Nelson a full transformation, including its outdoor space, and create a stronger community pub for local residents and students. What would you do with this pub to make it a success?
About the area
The Lord Nelson sits within a large, mature residential estate in Hull, very close to the university and student accommodation. There are 2,856 adults within a 10-minute walk and 17,455 within a 20-minute walk, giving the pub a substantial local catchment.
Five competitors are identified within the surrounding area, making the Lord Nelson one of a handful of community pubs serving this part of Hull. Its combination of established residential trade and proximity to the university creates an opportunity to appeal to both long-standing local customers and students.
The pub currently trades predominantly as a wet-led business and attracts a loyal but more mature demographic. The investment will reposition it for a broader and more diverse customer base, retaining a strong focus on community drinkers while becoming more student-friendly.
The offer
Lord Nelson, Hull is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the 'Refurbishment Details' section for details of the investment being made.
Who we're looking for
If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring. The right operator for the Lord Nelson will have extensive experience in community-led, drinks-focused hospitality businesses. They will have a clear vision for the drinks offer, sports and social occasions, and local marketing strategy across both resident and student audiences, and can create a memorable experience for their customers.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter…
Trading Area & Facilities
The scheme is described as a full transformation of the Lord Nelson, including a revamp of the pub’s outdoor space. A full list of works and pub floor plan can be found in the Downloads section.
The pub's trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate games and sports zone
- 93 internal covers
- 64 external covers
- HEINEKEN SmartDispense
- Two-bedroom private accommodation
- Small patio
- Car park with 14 spaces
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Where a significant investment is made in a pub by Star Pubs, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).
Private Accommodation
Private accommodation consists of two bedrooms, a living room, kitchen, bathroom.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£48,423
Annual
Estimated Annual Turnover
£405,465
Annual Rent
£23,291
Entry Costs
Deposit
£5,823
Estimated Fixtures & Fittings Value
£34,100
Stock Valuation
£5,000
Working Capital Required
£3,500
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
What we're planning & why
An estimated £218,000 investment is planned as a full transformation of the Lord Nelson, including a revamp of the pub’s outdoor space. The scheme will modernise the customer environment, make better use of the pub’s potential and support a broader community offer, with private accommodation also included in the refurbishment.
What's happening?
The brief identifies changing local demographics and underused potential within the pub, creating an opportunity to reshape the customer experience around both established community drinkers and the nearby student market.
The full transformation will bring the pub up to modern customer expectations and create a stronger overall environment for social drinking and community occasions.
The outdoor space will also form part of the transformation, adding another reason for customers to visit and helping the pub make better use of its 64 external covers.
A separate games and sports zone provides a strong platform for social occasions and sports-led trade.
Why invest?
The investment is intended to help the Lord Nelson respond to its changing local market, use its trading areas more effectively and create a more contemporary community pub. By broadening its appeal to students while continuing to serve local residents, the refurbished pub should be able to attract a wider customer base and increase visit frequency.
The briefing projects turnover to reach approximately £409,000 following the refurbishment.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
163, Endike Lane, Hull, HU6 7UA
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To apply for this pub or for additional information, please contact us directly
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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