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8 bedroom pub for sale

DERBYSHIRE

Sold STC £69,000

Property Description

Full description

REF: 7795 LEASEHOLD

CHARACTER 16TH CENTURY 'FREE OF TIE' INN/RESTAURANT WITH 6 X EN-SUITE LETTING BEDROOMS SITUATED IN THE AFFLUENT DERBYSHIRE VILLAGE OF KINGS NEWTON CLOSE TO EAST MIDLANDS AIRPORT

Private 15 year Free of Tie Lease. Approx. 12 years remaining (renewable under L&T Act).

Quality multi-faceted business, food, real ale & letting.

Lovely Restaurant areas (approx. 44 covers), full of character - exposed beams, stonework, log-burning stove etc. High quality establishment.

Cosy Bar/Dining Area - comfortable leather sofas, York Stone floors, attractive servery.

Excellent fully equipped catering kitchen.

Car park; external Patio/Dining/drinking area.

Attractively furnished 6 x en-suite letting bedrooms.

Owners spacious character s/c living accom.

Advised turnover Y/E 30 April 2016 circa 386,000 (inc VAT), split approx. 40% food, 40% wet & 20% accom.

Thriving concern attracting desirable clientele.

View the website at: www.hardinge-arms.co.uk

Realistic asking price.

SUPERB CATERING/LETTING ACCOMMODATION/REAL ALE BUSINESS OFFERING LOVELY LIFESTYLE


LOCATION
The business is situated in the affluent and historic village of Kings Newton Nr. Melbourne in Derbyshire, within minutes of both East Midlands Airport and Donington Park Motor Racing Circuit - close to junction 24 of the M1 motorway. East Midlands Airport is expanding at a massive rate and presently attracts circa 4 million passengers per annum in addition to accommodating many corporates, offices, units and other valuable sources of valuable trade. The premises are surrounded by similar affluent villages and various tourist attractions including Melbourne Hall, Calke Abbey, Staunton Harold Visitors Centre etc. Consequently this business is superbly located to attract a highly desirable clientele emanating from the many and various lucrative sources.

THE PROPERTY
The original 16th Century Inn has been sympathetically restored, preserving a wealth of original characteristic features culminating in a lovely atmospheric restaurant to please the most discerning diner.

The Restaurant areas - total 44 covers) comprise of a 'Lower' area with oak flooring, intimate wall lighting, exposed beams and stonework, feature fireplace etc. Patio doors lead to the outside dining/drinking area with stone dining tables and chairs. The 'Upper' Restaurant area has intimate wall lighting, 'brick' flooring and a feature 'Inglenook' fireplace with real 'log burning' cast iron stove.

Bar/Dining area - with soft furnishings and tables. York Stone is prevalent throughout the floor area and the area has a cosy ambience and is presently furnished with comfortable leather sofas.

Attractive and spacious Bar Servery - fully equipped for the trade including 'Expressor' Coffee Machine, glasswasher etc.

Ladies & Gents WCs - these are both of an immaculate standard with glazed tiled walls and ceramic flooring commensurate with a quality food establishment.

Cellar - refrigerated and part of the new build section hence purpose built ground floor area - easily worked and close to the bar area in order to minimise beer wastage and maintain excellent quality of draught beers.

Catering Kitchen - fully fitted to a high standard with all the necessary and valuable catering equipment (non tested).

OWNER'S ACCOMMODATION
Located on the 1st floor with additional separate entrance, the attractive accommodation is full of character and comprises: refurbished Bathroom/WC, Dining Kitchen area, Lounge,
2 x bedrooms.

SEPARATE LETTING ACCOMMODATION
Self contained with parking. 6 x double letting bedrooms all with en-suite shower facilities. These bedrooms are attractively furnished and well equipped with flat screen colour Freeview TV's, tea/coffee making facilities, fridge etc. The demand in this area is absolutely immense for letting accommodation due to the close proximity of Rolls Royce, Toyota, East Midlands Airport, DHL, Donington Park Motor Circuit and the future East Midlands Rail Freight Hub etc.

EXTERNAL
An attractive 'sun trap' patio area provides extra capacity for both dining and drinking trade. This area has stone tables and seating for approx.. 24. Rear tarmac car park, with additional blocked paving parking adjacent to letting rooms.

TRADING & LICENSING
We are advised that the business trades with the benefit of a new Premises Licence (no Licences seen) which permits the sale of alcohol during the hours of:

Sun - Thursday 10.00am - 12 midnight
Fri - Sat 10.00am - 1.00am

Current opening hours are:
10am to midnight - 7 days

Food is served 12.00 midday to 2.30pm and 6pm - 9pm Monday-Saturday 12.00 midday to 4pm on Sundays

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.

GENERAL REMARKS
The business is being offered for sale as a lease assignment of a 15 year fully repairing and insuring lease (FRI) with approx. 12 years remaining of a highly sought after FREE OF TIE lease which we are advised is renewable under the Landlord & Tenant Act 1954.. The annual pragmatic rental is circa 30,000 (+ reclaimable VAT). Rates payable are advised as being circa 4,000 pa. We are advised that all mains services are connected and the premises have the benefit of central heating. (no services seen or tested).

THE BUSINESS
Our husband & wife vendor clients acquired this established business in April 2014 and are now looking to semi-retire with a change of lifestyle. They have successfully traded whilst enjoying the lifestyle and desirable clientele who frequent this historic establishment. Customers comprise of friendly locals, together with destination diners and business/tourist letting guests.
Year ended 30th April 2016 declare a turnover of circa 386,000 (inc VAT) split circa 40% food, 40% wet, 20% accom.
Gross profits are declared in excess of 190,000. The reconstituted net profit (i.e. after adding back Director's salaries, staff recruitment fee, professional fees, depreciation etc.) is in excess of 40,000. This net profit is achieved obviously achieved after paying annual rent and also after paying staff wages of circa 80,000. The business currently employs a full time chef and sous chef, with the owners preferring to be 'hands-on front of house'. Clearly this is currently a successful formula and thriving business which could be emulated by a new enthusiastic operating couple/family, or alternatively a chef operator.

An absolutely unique + superb business opportunity offered on highly favourable terms, at a sensible premium/asking price.

Viewing appointments must be made via 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.


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