8397F

DESIRABLE FREEHOLD FREEHOUSE & RESTAURANT WITH CONSENT GRANTED FOR EN-SUITE LETTING BEDROOMS & DINING EXTENSION ETC SITUATED IN THE LOVELY DERBYSHIRE HAMLET OF MILTON – CLOSE TO REPTON WITH ITS FAMOUS PRIVATE SCHOOL & OTHER AFFLUENT VILLAGES

8397F


  • Affluent & desirable locality – similar catchment villages plus relatively close to major City of Derby, Rolls Royce, Toyota, East Midlands Airport, Donington Park & tourist attractions etc.
  • Lovely spacious Lounge Bar and separate Dining Room.
  • Large Car Park and extensive Garden Area with tables and Children’s Play Area.
  • Consent obtained in 2020 for attractive 6 en-suite letting bedroomed extension, plus kitchen and extra dining area.
  • Huge demand in locality for letting accommodation.
  • Owner’s 2 bedroomed accommodation, plus lounge, bathroom etc – impressively refurbished by the present owners in 2018.
  • Valuable freehold premises with thriving business turnover figures from July – October 2020 average circa £25,000 per month (inc.) with restricted hours/openings.
  • Genuine demand to offer Sunday lunches, lunchtime openings etc.
  • Obvious demand to build and exploit the planning consent/extension granted in 2020 (see artist impression of scheme).
RARELY AVAILABLE, THRIVING CONCERN WITH SUPERB DEVELOPMENT SCHEME AND CONSENT GRANTED


ASKING PRICE £475,000 FREEHOLD INCLUDING FIXTURES & FITTINGS, GOODWILL, PLUS S.A.V.

Location

This freehold freehouse is situated on the Main Street of the idyllic Derbyshire Hamlet of Milton, around 6 miles south west from the City of Derby and approx. 1 mile to the east of Repton. Repton is a thriving desirable village and civil parish in South Derbyshire and famous nationally for its private school. The area enjoys high residential house prices and the locality is expanding with various attractive residential developments. It is surrounded by similar affluent villages which offer obvious ‘catchment trade’ for the business. In addition, the business is relatively close to the major employers of Rolls Royce, Toyota etc. Also in relatively close proximity are East Midlands Airport, Donington Park, Calke Abbey, Foremark Reservoir, etc. The locality is well served with road communications, including the A50 linking to the M1 motorway, M42 and northwards of course to the Peak District.

THE PROPERTY

Much of the property has been extensively refurbished by our vendor clients since their ownership in 2018 to an impressive standard.

Ground Floor

Lounge Bar – refurbished by the owners to a high standard resulting in a lovely room with character, and ambience attracting both local trade and the most discerning clientele. Cosy open fire, characterful ‘church pews’. Seating for approx. 30 plus standing areas. Quality ‘Karndean’ flooring, oak beams etc.

Attractive and quality spacious Central Servery – serving a range of real ales etc.

Dining Room/Restaurant – Recently refurbished, again to a high standard. Lovely character room with high output traditional log burner, housed within large feature fireplace. Accommodates circa 26 diners, which the present owners have been operating following Government restrictions when allowed – x 2 sittings per evening x 4 nights weekly.

Ladies/Gents W.C.s - refurbished.

Lobby – ideal for walker’s muddy boots etc.

Compact Catering Kitchen – renovated and equipped for the present catering business (equipment not tested).

Underground Cellar – including ‘chiller’ ideal cellar to keep in good condition the range of real ales.

OWNERS ACCOMMODATION

Refurbished to an excellent standard in 2018 with new kitchen, new bathroom, central heating etc. Very impressive throughout. 2 x double bedrooms, lovely bathroom (with large bath, separate shower cubicle etc), lounge/dining room, kitchen with views over surrounding countryside.

Possible scope to extend living accommodation into the attic (subject to planning permission).

EXTERNAL

Extensive site comprising:

Large car park circa 20-25 vehicles, rear ‘smoking shelter’ and garden area.

Large rear lawned area with seating and ‘kids shoe playhouse’ – this area is ideal for ‘social distancing’, dining ‘al fresco’ & future weddings/entertainment marquee etc.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol & live entertainment until midnight Monday – Thursday, until 1am Friday – Saturday and until 11.30pm Sundays.

Restricted opening hours (July-October 2020) :

Monday-Friday 5pm – 11pm

Saturdays and Sundays 12noon – 11.00pm

With food only being served 4 evenings per week as per July-October 2020 turnover figures mentioned.

November 2020 onwards obviously evolving Covid-19 prevailing Government guidelines will continue to apply.

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 freehold property, site and business together with fixtures & fittings is being offered for sale as a going concern (please note we have not had sight of the title deeds).

We are advised that the inn benefits from all mains services with the exception of heating and cooking by LPG (no services seen or tested). Business rates payable are advised as currently ZERO.

THE BUSINESS

The present owners purchased in 2018 and embarked upon a thorough refurbishment scheme. They started trading at circa £2,000 per week and then progressively built upon these trading foundations, creating a loyal and desirable clientele. Accounts for year end 5th April 2020 (including part Covid-19 closure) declared takings of circa £144,000 (inc VAT) with turnover derived from real ales and wet sales. A reconstituted net profit was declared of circa £32,000 for this year. During subsequent enforced Covid-19 lockdown/closure the owners invested further significant expenditure/investment refurbishing the toilets and creating a ground floor refurbished kitchen – such was the obvious demand for food. Upon re-opening on July 4th 2020, sales turnover dramatically increased achieving the following figures (inc VAT) supplied by our vendor clients: July circa £19,000, August £29,000, September £27,000, October £25,000 – trade split circa 70% wet, 30% food. Clearly the present owners have stablished an excellent reputation and loyal customer base. They have also re-invested significantly in refurbishment works. They have proven this business is ready to further develop and expand – hence they have invested further monies by managing to obtain planning consent for the extension scheme specified below: (see planning link for full details, approval and conditions).

“The erection of single storey rear extensions to form a new kitchen, preparation area and extended dining area with the erection of a front porch to the existing public house and the erection of a block of 6 holiday lets to the rear with parking and associated works, including Relevant Demolition Consent for an outbuilding,”

Planning Reference DMPA/2020/0489 - Link: https://southderbyshirepr.force.com/s/planning-application/a0b4J000004668LQAQ/dmpa20200489

The owners fully intended to carry on and build the extension, but unfortunately due to genuine health reasons are considering selling the business. Assuming new owners construct the 6 en-suite letting bedrooms/holiday lets, then even conservatively and competitively ‘pitching’ the room rate could potentially add circa £100,000 to the annual net turnover thus achieving very high gross profits. In addition, the letting bedrooms would of course provide a ‘captive audience’ to add to wet/food sales.

Accounting information will be made available to interested parties, following a formal viewing appointment. Viewing appointments must be made by emailing Guy Simmonds at sales@guysimmonds.co.uk

Details prepared November 2020.

ADDITIONAL IMAGES

8397F

8397F

8397F

8397F

8397F

8397F

8397F

8397F

8397F

8397F