This delightful Free house/Restaurant is situated adjacent to the busy main A615 (Matlock Road) close to the desirable villages of Brackenfield and Wessington and is surrounded by other affluent villages and rolling Derbyshire countryside. This successful and popular destination food venue is ideally positioned, and its 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 only 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 nearby road networks are excellent with the M1 & A38 complimented by a series of other ‘A’ roads that providing access around the surrounding area.
This highly attractive Grade II listed 16th century inn is a former farmhouse that sits on a large plot. The property is of limestone construction sitting under a pitched slate and tiled roof. Entrances to the front and rear of the property provide access to all the trading areas. The premises are bursting with character and rustic charm and having exposed wooden beams and stonework throughout really adds to the ambience and feel.
The trading areas have a warm, welcoming and cosy atmosphere and are split into intimate areas seating approximately c80 covers able to be laid out as required and to suit the occasion. The furnishings are of a high-quality standard and are in keeping with this lovely building. The trading areas consist of:
Top Dining Area has loose tables and chairs, a carpeted floor and stunning rolling countryside views.
Main Lounge/Bar area has loose tables and chairs complimented by comfortable sofa seating plus standing areas to the main bar servery. There is also a well presented and well stocked central bar server of wood construction with 4 cask ales on offer to service all the trading areas.
Lower Dining and Main Restaurant Areas has an intimate layout and leads into a delightful area known as the ‘Potting Shed’ where private dining or small meetings can be accommodated.
Ladies & Gents W.C.’s
There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested) and Dessert/Prep and wash up area. There is also a partially below ground floor cellar with python, remote etc.
The owner’s family sized accommodation has private access and is located on the 1st floor. This briefly consists of 4 double bedrooms, Lounge, Kitchen, Office and bathroom. Given the layout of the accommodation this could also be split into 2 flats with 1 still having private access and suitable for letting purposes if desired (subject to relevant consents).
To the front, side and rear of the property are spacious grassed and patio al fresco garden areas with wooden picnic benches and simply stunning rolling countryside views. To the side of the property is the large patron’s car park with space for c40+ cars.
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- Sun 10am to midnight
Current opening hours are:
Tues - Sat 12noon to 11pm
Sunday 12noon to 10pm
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.
The business is offered for sale as a lease assignment with approximately 8 years remaining of the privately-owned repairing and insuring, renewable agreement. 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. Please note in this particular instance we are advised that the landlord/owner is responsible for maintaining the main structure, foundations and roof of the premises. We are advised that the inn is totally ‘free of tie’ on all products and that the highly attractive rent is currently advised at circa £21,250 per annum (circa 6% of advised net turnover). We understand the rent is RPI linked to inflation. We are advised that the inn benefits from mains gas and electric services (no services seen or tested) with a sceptic tank in situ. Business rates payable are advised as currently being circa £7,000 per annum to include all relevant reliefs.
Prospective lessees should ensure they have the minimum cash reserves to purchase this lease plus a £5,000 rent bond and ¼ rental sum in advance for this business.
The lease agreement includes the use of the high-quality trade fixtures and fittings for the lessee, with ownership of ‘most of the fixtures and fittings’ remaining with the freeholder.
The current owners took over this highly popular business (previously run by a chef-proprietor) in January 2018 and continued to run the business offering locally sourced home cooked food and a vast selection of quality ales and drinks to a loyal, repeat, passing and desirable clientele. Unfortunately, due to personal circumstances and changes in family personnel our vendor clients had to engage the services of full-time chefs (hence a prohibitive wage bill) and consequently are now looking to sell the business on. The business is currently operated by the owners themselves assisted by various staff members. We are advised that accounts to year ending 31st March 2019 show a turnover of c£432,000 (inc VAT) achieved on a trade split of circa 80% Food and 20% wet sales. New owners could continue to run the business using the same current formula or may wish to take the business to the next level. In our opinion this could achieved by taking advantage of extending the opening hours whilst introducing their own quality food menu and offer to the business.
This business would ideally suit an experienced operator(s)/couple (chef/front of house team) who have previously worked in a similar food led/hospitality environment. Obviously, this would then help reduce chef overheads etc. to previous ownership and profitability levels.
Accounting information will be made available to interested parties after viewing.
This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.
Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.
Details prepared September 2019