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HIGHLY IMPRESSIVE THRIVING & AWARD-WINNING HOTEL BAR & RESTAURANT FOR SALE LOCATED IN THE HISTORIC TOURIST MAGNET VILLAGE OF CROMFORD ON THE EDGE OF THE DERBYSHIRE PEAK DISTRICT

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  • Set in the Derwent Valley on the South East edge of the Derbyshire Peak District National Park between Matlock and Wirksworth and surrounded by history, glorious countryside and popular tourist attractions.
  • Stunning and spacious Open plan trading areas (c76+ covers plus standing) with impressive décor, solid oak flooring, hanging chandeliers, a log burner set in a carved stone fireplace and 5 cask ales on offer.
  • Waterside Private Room (c20 max) is a multi-use room available for private dining, parties or meetings with flagstone floor, running waterside views, projector and big screen.
  • 8 delightful AA 3* standard en-suite letting rooms.
  • Fully equipped commercial catering kitchen.
  • Attractive gravel and flagstone al fresco area (circa 28) with village views.
  • 1-bedroom owners’ accommodation (able to be increased).
  • Advised turnover circa £780,000 (incl. VAT) for year ending 31st January 2020 on a trade split of 50% Food sales ; 30% Wet sales ; 20% Accommodation.
  • Highly impressive renewable lease with an attractive rent only 6.5% of Net turnover.
  • Free of Tie Option may be considered.
A FANTASTIC OPPORTUNITY TO ACQUIRE A THRIVING AND WELL-ESTABLISHED BUSINESS IN A STUNNING SOUGHT AFTER HISTORIC LOCATION


ASKING PRICE £195,000 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This delightful Grade II listed hotel, bar and restaurant is located in the historic village of Cromford nestled in the beautiful Derwent Valley on the south Eastern edge of the Derbyshire Peak District. Surrounded by picturesque countryside Cromford sits between Matlock and Wirksworth and part of the village is designated as a world heritage site. Flanked by breath taking views and located within walking distance of the High Peak Trail and Black Rocks and with many tourist attractions and campsites nearby ensures the drawing of tourists, walkers and ramblers all year-round. This is 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 through this stunning county.

THE PROPERTY

This delightful property is a unique historical building that dates back to 1778. The property is of stone and brick construction and sits under a pitched slate and tiled roof. Entrances to the front and side provide access to the hotel reception and open plan trading areas. Steeped in history and with links to the Arkwright family the property is presented in pristine condition. With solid oak flooring throughout the trading areas consist of:

Arkwright’s Lounge (c14+) has stunning décor complimented by low tables and comfortable armchairs and settees. There is a central hanging chandelier and a piano sat quietly in the corner.

Bank Bar (c22+ plus standing) has loose tables and chairs and upholstered perimeter bench seating with a feature log burner set in a carved stone fireplace and a rocking chair to the side.

Market Room (c20+) has assorted loose tables and chairs, hanging chandelier and a large ordinance survey mural map from 1890 of the surrounding historic area.

The Greyhound (c10+) is a delightful snug area with loose tables and chairs and a beautiful stained-glass Greyhound feature to the high wall.

Wine Bar (c10+) has assorted comfortable tables and chairs, a hanging chandelier and an exposed brick-built arched fireplace.

Waterside Private Room (c20) is private self-contained multi-use room with loose tables and chairs sitting on a rug covered flagstone floor and able to be laid out to suit the occasion. This room can be used for private dining or meetings or events being shown on the retractable big screen and projector. This has even been used as a polling station as and when required. Patio doors to the side lead out onto a small attractive veranda with stunning flowing waterside views.

There is a well-presented central wooden bar server to service all the trading areas with 5 cask ales on offer, coffee service station and an authentic wood fired Italian pizza oven to one end.

Ladies, Gents and Disabled W.C.’s.

There is a fully equipped commercial catering Kitchen with stainless-steel appliances and surfaces (appliances not tested) and wash up, prep, dry goods and fridge/freezer store leading off. There is a below ground floor Beer Cellar with python, remote and pumps etc plus additional storage space.

OWNERS ACCOMMODATION

The owner’s accommodation is situated on the second floor and consists of a 1 bed flat. This is also suitable for letting however could be extended to increase in size but would mean the loss of 1 or 2 of the letting rooms.

LETTING ACCOMMODATION

Situated on the 1st and 2nd floors are 8 delightful AA 3* standard en-suite letting rooms consisting of 1 x Family room, 2 x Superior (inc a 4-poster) and 5 x doubles. All rooms have tea/coffee making facilities and HDTV’s.

EXTERNAL

To the side of the property is an attractive flagstone and gravel al fresco area with wooden picnic benches (28+ covers) large garden umbrellas & shrubbery planter borders. The patron’s car park (including common land) is located to the front, side and rear and provides spaces for circa 35+ cars. Parking is also available throughout the village.

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 10am to 2am Current opening hours are:

Mon- Sun 10am to 11pm (variable with residents’ licence)

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 lease assignment with approximately 7½ years remaining of the ‘Hawthorn Leisure’ internal only repairing and insuring, renewable agreement. We are advised that the inn is free of tie on wines, spirits and minerals, however the Landlord may be willing to consider a completely Free of Tie Option. . We are informed that the highly attractive rent is currently c£42,000 per annum (6.5% of net turnover) to be reviewed in 2022. We are also 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 mains services (no services seen or tested). Business rates payable are advised as currently being circa £2,000 per annum.

THE BUSINESS

The current owners took over the business in 2016 and have since refurbished the property to create a popular thriving up market business offering a diverse quality range of food and drinks and comfortable accommodation to a highly desirable and repeat clientele. The business is currently run by our vendor clients assisted by c4 full and c14-part time/casual members of staff. This excellent business has recently been chosen as the winner of ‘Best Pub in Derbyshire’ award in the National Pub & Bar awards 2019 and also attracts exceptional Trip Advisor reviews. We are advised that accounts declare takings of circa £780,000 (inclusive of VAT) for year ending 31st January 2020. This has been achieved on a trade split of 50% Food sales, 30% Wet sales and 20% Accommodation. Sales in the current financial year are in growth by more than 20%. New owners could continue to operate the business using the same highly successful formula or they may wish to take the business to the next level. In our opinion, this could be achieved by introducing further letting rooms and the introduction of a carvery or take away pizza offer for example.

Accounting information 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 March 2020

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