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10 bedroom pub for sale

HIGHAM DERBYSHIRE REF: 6753 FREEHOLD

Sold STC £550,000

Property Description

Commercial information

  • Business for sale

Key features

  • Traditional Country Inn, Restaurant & Hotel located on the edge of Derbyshire Peak District.
  • Warm and charming Restaurant Dining Areas (circa 70).
  • Main Bar /Tap room (circa 20 + standing); Lounge (circa 10 + standing) and Snug Bar (circa 12 + st
  • 10 letting bedrooms, all en-suite and well-equipped.
  • Large car park (circa 50); External drinking area.
  • Advised T/O circa £391,000 (incl. VAT) y/e Sept 2011.
  • Trade split is approx. 50% wet, 28% food and 22% Accom.
  • Planning Permission for 3 Bedroom Owners accommodation.
  • Also available as a new 15 year Free of tie lease.
  • Thriving business with further scope.

Full description

Tenure: Freehold

AN EXCELLENT OPPORTUNITY TO ACQUIRE A NEW FREE OF TIE LEASEHOLD OR FREEHOLD COACHING INN. GENUINE POTENTIAL FOR NEW COMMITTED HANDS-ON OPERATORS TO REDUCE WAGE BILL AND REAP THE REWARDS

LOCATION
This desirable honey coloured stone built coaching inn is located in the picturesque village of Higham, Derbyshire. Higham is a delightful village in a conservation area surrounded by Derbyshire’s beautiful rolling countryside and lies midway between Alfreton, approximately 4 miles to the south, and Clay Cross to the north. It is 8 miles to the south of the market town of Chesterfield and 6 miles to the east of Matlock, on the edge of the eastern side of the Peak District National Park. Many local attractions are just a short walk away such as Ogston reservoir and Wingfield Manor. Others a little further away include Chatsworth, Hardwick Hall and Haddon Hall. Excellent local amenities are provided by the nearby towns of Alfreton, Claycross and Chesterfield. The area also has convenient access to the major commuter routes such as the A38, M1 and A61 leading to Derby, Nottingham, Sheffield and Leeds.

THE PROPERTY
This traditional Coaching Inn is thought to date back to the 15th Century. It is a substantial 2 storey stone building under a pitched, slate roof and occupies an excellent prominent position on the main thoroughfare in the village centre.

The charming Main Bar/Tap Room (circa 20 + standing) features a double sided living log fire, quarry tiled floor, exposed beams, exposed stone walls, loose comfortable chairs, stools, bench, tables and a Bar Servery.
The traditional Snug Bar (circa 12 + standing) includes red/black quarry tiles, feature fireplace with working log fire, exposed beams, perimeter seating, loose tables, high bar stools and solid wooden bar servery.

The Lounge Room (circa 10 + standing) is carpeted with a leather settee and armchairs and features exposed beams, exposed stone, oak panelled walls and elegant sash windows.

The First Dining Area (circa 40) is an extensive sumptuous oak panelled room with perimeter seating, loose tables and spindle back dining chairs set upon a quality patterned red carpet.

The Second Dining Area (circa 30) is packed with many features including flagstone, wood and carpeted flooring, exposed beams, exposed stone, white painted walls, stone fireplace with working gas effect log burner, loose dining tables and spindle back dining chairs.

Ladies & Gents W.C.s.

There is a double mobile carvery unit, fully equipped Catering Kitchen (equipment not tested), 4 substantial store rooms including a walk-in fridge and a lower-ground floor cellar.

OWNERS ACCOMMODATION
We are advised that there is planning permission (not seen) for a 3-bedroom detached dwelling to be built at the far end of the car park.

LETTING ACCOMMODATION
To the rear is the Hotel reception with stairs to the first floor and 10 En- Suite Letting Rooms (5 x doubles, 3 x singles, 1 x twin & 1 family room). All rooms are equipped with a T.V, and Tea & Coffee making facilities. Two of the rooms have been redesigned by top designers from Channel 5’s “Hotel Inspector” which can been seen on their web site: http://www.thecrowninnhigham.co.uk

EXTERNAL
To the side and rear is a tarmac car parking area (circa 50+) with outbuildings and rear stairs to first floor lettings. To the front is a long flag stoned beer terrace with picnic.

TRADING & LICENSING
We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:
Mon - Sat 10am to 1am
Sunday 12noon to 12 midnight

Opening hours (2011):
Mon- Thurs 4pm to 11.30pm
Fri -Sat 12 Noon to 11.30pm
Sunday 12 Noon to 10.30pm
NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1 day APLH Course every month. Please telephone us to reserve your place or book on-line at www.guysimmonds.co.uk

GENERAL REMARKS
The property and business is being offered for sale freehold (although we have not had sight of the title deeds) or as a new highly favourable 15 year Private FRI Lease Agreement as follows:
1. The asking premium will be £49,000.
2. The initial annual rent will be £35,000
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews.
4. Rent payable quarterly in advance.
5. Lease re-assignable after initial 2 year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs relating to the transaction.
We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954.
We are advised that the inn benefits from all mains services and uses gas central heating (services not tested). Business rates payable are advised as being circa £10,000 per annum.

THE BUSINESS
The current owner purchased the business approx. 9 years ago and has run the business on a management basis on limited trading hours (i.e. the inn is closed all weekday lunchtimes except Fri). Applicable up to y/e 2011. The present owner has refurbished the trading areas and has established a solid trading foundation offering quality food and drinks in comfortable surroundings.

Our vendor client is suffering from genuine ill-health and consequently has an excessive wage bill, presently run under management etc which we would expect new committed hands-on operators to reduce drastically. We are advised that turnover for y/e September 2011 is circa £391,000 (incl. VAT) - split 50% wet, 28% food and 22% accommodation. Whilst the business is currently thriving, we feel that there is clearly further scope for new hands on owner operators to take this business further by improving on the marketing of the business especially using web based marketing, which is crucial in this business sector.

Accounting information will be made available to interested parties after viewing.

Viewing appointments must be made by contacting Guy Simmonds.

VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

TRAINING: For a brochure and dates of our award-winning training courses leading to the relevant B.I.I, qualifications (and APLH). Telephone (01332) 865112 or view on www.guysimmonds.co.uk Courses are monthly.

FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.


To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

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Disclaimer

Property reference 6753. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds, National Licensed Property Agents. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.