8365L

• Sitting directly between Matlock & Belper & within easy reach of Crich & Carsington Water & only a stones throw from the Derbyshire Peak District.
• Bar (c20+ plus standing) with exposed stone walls, exposed wooden beams and log burner.
• Dining Area (c60+ covers) with exposed wooden ceiling beams, exposed stone walls and log burners.
• Multi-use Carvery/Restaurant/Function Room (circa 90+ plus standing) with exposed wooden beams, carvery units, parquet floor & add on marquee.
• Attractive grassed Al Fresco Garden Area with stunning countryside views : Large Patron’s Car Park : Helicopter Landing Pad ; Wedding Licence.
• Fully equipped commercial Catering Kitchen with 5* EHO.
• Advised turnover circa £440,400 (incl. VAT) to year end 31st May 2019 achieved on a trade split of 48% Food sales : 36% Wet Sales & 16% Accommodation sales.
• A brand new highly desirable ‘privately owned’ & ‘totally Free of Tie’ renewable Lease.
• The Business is currently closed.

Location

This delightful iconic property sits high above the sought-after Derbyshire village of Alderwasley positioned directly between Belper and Matlock. The village itself has a primary school, a specialist tuition school and a church and is surrounded by other highly affluent villages and stunning Derbyshire countryside. Nearby points of interest include the tramway village of Crich, Carsington Water and the tourist magnet of the Peak District National Park is only a stone’s throw away. The National Park Authority estimate around 10 million people visit the area annually. The Park covers 555 square miles & 12% of the park is owned by the National Trust. With many tourist attractions, walks and campsites nearby the area is frequented by walkers and ramblers all year-round make this a highly desirable and sought-after location. The local road networks include the A6, A38 and a series of other ‘A’ roads that provide access throughout this simply stunning county.

THE PROPERTY

This Grade II listed old coaching inn is bursting with character and rustic charm with parts dating back to the 16th Century (c1528). The property is of stone construction and sits under a pitched tiled roof. A welcoming entrance porch to the rear provides access to all the trading areas. These consist of:

Bar (c20+) has assorted loose tables and stools complimented by perimeter wooden bench pew seating. The room has exposed wooden ceiling beams looking down on a solid oak floor, exposed stone walls and an exposed stone-built fireplace with built in log burner. There is a bar server of wooden construction with 5 cask ales on offer and stunning views of the Derbyshire countryside.

Dining (c60+ covers) leads off from the bar and has several interlinked rooms all bursting with character and charm. Assorted loose tables and chairs and wooden cushioned bench pews all sit on a solid oak floor. Exposed wooden ceiling beams are complimented by 2 exposed carved stone fireplaces with built in log burners and there are areas of exposed stone and wood panelled walls.

Multi-use Carvery/Restaurant/Function Room (c90+) is a spacious and slightly more modern self-contained room with an attractive oak and parquet floor and loose tables and chairs able to be laid out as required. There is a roaring log burner and exposed wooden ceiling beams with an open ceiling above creating a relaxing atmosphere and feeling of space. To one side is a large carvery unit with an adjacent wooden bar server and 2 cask ales on offer. Double doors to one end enable the option to add a marquee.

There is also a separate dog friendly area (circa 20+) with loose tables and chairs, exposed stone walls and a solid oak floor.

Ladies and Gents W. C’s.

There is a spacious fully equipped Commercial Catering Kitchen with stainless steel appliances and preparation surfaces and 5* EHO rating (appliances not tested). A wash up, prep area, fridge/freezer store and dry goods store lead off. There is also a walk-in fridge.

Ground Floor Cellar with cask racking, python, remote and pumps etc.

OWNERS ACCOMMODATION

There is currently no owner’s accommodation however by utilising only 1 of the letting rooms (thus reducing to 7 rooms) could create a good sized 2 Bedroom Owner’s Flat.

LETTING ACCOMMODATION

Situated on the first floor are 8 delightful en-suite Letting Rooms (2 with 4-poster beds & all doubles) with areas of exposed stone walls and exposed wooden ceiling beams. All rooms have a TV and Tea/Coffee making facilities.

EXTERNAL

To the side of the property is a fabulous grassed al fresco Garden Area with wooden picnic benches (circa 100+ covers), established hedge and shrub borders and beautiful rolling Derbyshire countryside views. There is also a Helicopter Landing Pad that is popular in the summer. To the other side of the property is the Patron’s Car Park with spaces for c100+ cars.

TRADING HOURS

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 11am to 11pm (plus residents 24 hr licence)

Current opening hours (through ill health) are:

Mon - Thurs 2pm to 8pm

Friday/Saturday 2pm to 11pm

Sunday 12noon to 8pm

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.

GENERAL REMARKS

The business is offered for sale as a new highly favourable 10-year Private FRI Lease Agreement.

The asking premium will be £40,000

The initial annual rent will be £25,000 (with initial concessions to be agreed).

The annual rental is simply RPI linked to inflation every year, hence no market rent reviews.

Rent payable monthly in advance.

Deposit equivalent of 3 month’s rent.

Lease assignable after initial 2-year period.

Free of all brewery and supply ties.

Each party responsible for own legal costs relating to the transaction.

Satisfactory references will be required on behalf of our vendor client.

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 LPG for cooking, an oil-fired heating system and all other mains services connected (services not tested). Business rates payable are advised as currently being TBC per annum.

THE BUSINESS

The current owner purchased the freehold property in 2012 and has created an established, popular and solid trading foundation offering locally sourced home cooked food, drinks and accommodation to tourists and also a loyal, repeat and desirable clientele. Due to serious ill health our vendor client is looking to lease the business on a totally private ‘free of tie’ basis in order to take life at a more leisurely pace. Due to the ill health of our vendor client the business has recently traded on minimal trading hours offering only wet sales and a Sunday carvery. The business is currently closed. The business sits in the heart of the community and offers an immensely popular Sunday carvery (200-400 covers per week) whereby customers travel from miles around. Until recently the business also hosted a weekly steak & burger night. It also holds a full Wedding/Civil Ceremony Licence. We are advised that accounts declare turnover of circa £440,400 (inc VAT) to 31st May 2019 on a trade split of approx 48% Food, 36% Wet and 16% Accommodation sales. Turnover for 2018 was advised as being c£564,000 (inv VAT). New operators could take the business to the next level and beyond by extending the opening hours and the immediate re-introduction of accommodation and food supported by the introduction of wedding package offers etc. The business could also be marketed offering the availability of functions and parties. This business would suit an owner/operator chef/couple who have experience of running a similar hospitality business. Accounting information for this business will be made available to interested parties after viewing.

Viewing appointments must be made by contacting Guy Simmonds at sales@guysimmonds.co.uk.

Details prepared February 2020