3 bedroom pub for sale

DERBYSHIRE, NR PEAK DISTRICT

£49,000

Property Description

Full description

Tenure: Leasehold

REF: 7768 LEASEHOLD

STUNNING & SUCCESSFUL 16TH CENTURY STONE BUILT "FREE OF TIE" DERBYSHIRE COUNTRY INN & REST'NT SITUATED NR. BRACKENFIELD ON MAIN 'A' ROAD EN-ROUTE TO MATLOCK BATH & THE PEAK DISTRICT

Substantial, attractive 16th Century stone-built property.
Full of character and convivial atmosphere.
Exposed stonework, beams, Inglenook fireplace etc.
Absolutely superb trading areas consisting of: Main Lounge, Top Dining Area, Lower Restaurant Areas seating total circa 60-80.
Lovely gardens/external drinking areas with superb views. Large car park.
Owners 2 separate flats or large 3 bed s/c accom.
Highly desirable Free of Tie Lease, at low rental of circa 20,000 + VAT per Annum (only subject to RPI inflation increases from 2012) *Option to extend original lease*.
Highly successful and lucrative with verified annual turnover of circa 357,000 (inc. VAT) split circa
70% food, 30% wet. Declared gross profits circa 189,000 with recon net profits (after paying rent) of circa 46,000.


IDEAL FOR HANDS-ON CATERING ORIENTATED/ENTREPRENEURIAL OPERATOR/PARTNERSHIP

LOCATION
This Derbyshire Freehouse/Restaurant is situated adjacent to the busy main A615 (Matlock Road) close to the desirable villages of Brackenfield and Wessington. It is surrounded by similar affluent villages. Demographically, this business is ideally situated, and is a highly successful food destination venue. The main road location is perfect for attracting passing trade to this lovely roadside inn and restaurant. This route also benefits from the huge influx of tourists visiting the popular destinations of Matlock and Matlock Bath, which are approximately 3 miles away. The business is also en-route and adjacent to the tourist "magnet" of the magnificent Peak District which attracts circa 10 million visitors annually.

THE PROPERTY
The premises are immaculate and absolutely full of character and charm with exposed beams and stonework prevalent throughout. The furnishings are a high quality standard throughout and in keeping with this lovely building. We are informed that the property is 16th Century and Grade II Listed and appears to have been maintained to an excellent standard by our clients.
The trading areas are split into superb intimate areas seating approx. 60-80 (depending on layout etc) and exude a lovely warm & cosy atmosphere, epitomising a charming traditional English Country Inn/Restaurant.
Main Lounge Bar - with comfortable sofa seating area plus standing areas adjacent to the main bar servery. Top Dining Area - seating circa 13 covers. Lower Dining & Main Restaurant Areas - with intimate layout seats approx. 30+. Adjoining 'Potting-Shed' Private Dining/Conference Room - seats approx. 15.
Obviously, depending on the new lessee's operating strategy, these 5 distinct trading areas can be utilised together or separated for private functions etc.
Ladies/Gents WCs. Catering Kitchen - very spacious and well equipped for the trade (appliances not tested). Freezer room/Bottle Store/Underground Cellar.

OWNER'S ACCOMMODATION
Benefits from separate entrance. Situated on the first floor and currently comprises: 2 flats or alternatively would be ideal for utilising as larger accommodation for one family.
Flat 1 - 2 bedrooms, lounge, bathroom.
Flat 2 - 1 bedroom, lounge, bathroom, kitchen.
Also scope for letting subject to relevant consents.

EXTERNAL
Large and ample car park. Extensive gardens with
seating and attractive views.

TRADING & LICENSING
We are advised that the business trades with the benefit of the Premises Licence (not seen).

Current opening hours are:
11.30am - 11.00pm daily with food served midday until 9pm (Sunday to 6pm for food).

GENERAL REMARKS
The business is offered for sale as an assignment of a highly favourable fixed term 10 year Private FRI Lease Agreement (commenced April 2012 with circa 5 years remaining. Annual rent is extremely realistic commencing at circa 20,000 + VAT (reclaimable) and is not subject to market rent reviews, simply RPI linked to inflation every 3 years, from 2012.

Whilst the existing lease is currently not renewable (i.e. excludes Sections 24-28 of the Landlord & Tenant Act 1954), the pragmatic freeholder landlord has informed Guy Simmonds that he will be willing in principle to formally grant a 10 year extension of the lease for the new lessees with immediate effect, following approval. Furthermore, this landlord is also willing in principle to vary the lease (if required) to then include Section 24-28 of the L&T Act, thereby making this lease renewable on similar favourable rent and terms.

Prospective lessees should ensure they have minimum 'cash' reserves to purchase this lease, plus a 5,000 rent bond and a 1/4 rental sum in advance (circa 5,000 + VAT), for this 'very low cost of entry' profitable business.

The lease agreement includes use of the high quality trade fixtures & fittings for the lessee, with ownership remaining with the freeholder.

We are informed that mains gas and electricity are connected with a septic tank in situ (services not tested). Business rates and water payable are advised as currently being circa 7,800 per annum.

THE BUSINESS
Our clients purchased the new 10 year lease through Guy Simmonds in April 2012.
They have built up an excellent and profitable business declaring a turnover of circa 357,000 (inc VAT) relating to year end March 2016, split circa 70% food, 30% wet. Gross profits declared were circa 189,000, with recon net profits (after paying rent) of circa 46,000. The premises appear to be immaculate and the furnishings of a high quality commensurate with the food operation. The business currently operates with one of the business partners as chef and the other front of house/operations, plus various staff. The only reason for the sale of this successful and profitable business is our clients wish to take a break for a while.

The realistic sale price for the goodwill and lease means that the purchasers will essentially recover almost their full purchase price in just 1 year of trading (based on our vendors' verified accounts).

Accounting information will be made available to interested parties following a formal viewing appointment.

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.

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.
(IX) All prices quoted are excluding stock at valuation.


Energy Performance Certificates (EPCs)

Nearest stations

  • Whatstandwell (3.3 mi)
  • Cromford (3.8 mi)
  • Matlock Bath (4.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Whatstandwell (3.3 mi)
  • Cromford (3.8 mi)
  • Matlock Bath (4.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7768. 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 Business Transfers Limited , National Licensed Property. 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.

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