8407L

• Idyllic Derbyshire Peak District National Park village, located approx. 1 mile from Thorpe Cloud and Dovedale stepping stones, 0.2 miles from the Tissington Trail and 3 miles from Ashbourne Surrounded by countryside, tourist spots, campsites and holiday cottages.
• Open Plan trading area (circa 60 covers plus standing) with exposed wooden ceiling beams, stone built fireplaces, multi fuel stoves with back boilers and flagstone floors. 2 serving bars each with 4 cask ale hand pulls and 8 beer fonts and a separate coffee and cake bar.
• Large Function room (circa 170 - currently unused).
• Majestic Al Fresco garden area (160-200 covers) with open barns, stone walled areas with established shrubs/plants and countryside views ; Large Patrons car park.
• Spacious and modern commercial catering kitchen.
• Delightful owner’s accommodation consists of a 1 bed flat alongside a 2 bed flat providing a mix of rental opportunities.
• Advised turnover circa £654,656 (incl. VAT) for year ending 31st March 2020 / Turnover since re-opening post pandemic is between £10,000 - £22,000 per week (£17,000 average turnover inc VAT) ; 50% Wet : 50% Food sales.
• The property has been totally refurbished throughout and is presented in immaculate condition.
• Brand new highly desirable ‘Privately owned’ & ‘totally Free of Tie’ Lease.

Location

This delightful inn is located in the Derbyshire Peak District village of Thorpe on the main road leading to the renowned National Trust beauty spot of Dovedale and sits close to the Staffordshire border. Thorpe literally is the Gateway to Dovedale known for its famous stepping-stones surrounded by picturesque rolling countryside and flanked by breath taking views. Located only a stone’s throw from the Tissington trail with signage giving directions to the inn and 3 miles North of the bustling market town of Ashbourne. There are many tourist spots, campsites and holiday cottages nearby and Alton Towers is only 10 miles away. This ensures the drawing of tourists, walkers and ramblers all year-round in addition to local trade. This a highly desirable and sought-after location. The local road networks include the A52, A515, A523 and a series of other ‘A’ roads that provide access through and around this stunning county.

THE PROPERTY

This immaculate and substantial property has been totally refurbished throughout retaining a traditional yet contemporary style. It is presented in an exemplary condition and is bursting with character and charm. Bespoke and handmade solid oak carpentry features throughout the bar and toilet areas. The property is of stone-built construction with rear render and sits beneath a tiled apex roof. Entrances to the front and side of the property (with disabled access) provide access to all the trading areas. These consist of:

Open Plan Trading Area (circa 60 covers plus standing) has a warm and very welcoming atmosphere. The trading areas are open plan however set in 3 sections running all the way through the property. An assortment of loose tables, chairs, stools, benches and even wooden pews are complimented by window seats looking out across the rolling countryside. Exposed wooden beams to the ceiling look down on an attractive flagstone floor with stone-built fireplaces, altar candles and built in multi fuel stoves at each end. Two eye-catching bars of stone construction with 4 cask ale hand pulls and 8 beer fonts on each bar serve the whole trading area. There is also a separate coffee and cake bar with an Italian 2 gang Expresso machine and Quooker hot water system. Top range till systems are also installed. There is a high spec fast internet (fibre) and sound system throughout both the inside and outside areas.

Function Room (circa 170 occupancy) is to the rear of the property, has not been refurbished and is currently unused and used only for storage purposes. There is a self-contained bar and cellar and buffet room leading off. It also has access to the commercial catering kitchen however this is currently blocked off. This provides potential to develop further business opportunities, however it would require a small investment to do so.

Ladies, Gents and disabled W. C’s. The toilets have a high-quality finish to interior design and fittings throughout.

There is a spacious and modern commercial Kitchen with stainless steel surfaces and top of the range appliances including a 5 senses 10 grid Rational oven and Cooktek induction hob (appliances not tested). Fridge/freezer storage, dry goods store and wash up leads off and there is also a walk-in chiller. Ground Floor Beer Cellar with python, pumps and remote.

OWNERS ACCOMMODATION

The delightful owner’s accommodation is situated on the 1st floor and has private access. This has also been fully refurbished to the same high standard as the trading areas. This consists of: 1 x 1 bed flat and 1 x 2 bed flat both with lounge, bathroom and kitchen. These provide multiple options for either rental and living off site or living in either flat whilst using the other for rental purposes.

EXTERNAL

To the side of property is a delightful flagstone al fresco garden area (circa 160 – 200 covers) with an assortment of loose tables, chairs and benches all set amongst seasonal floral hanging baskets and established attractive shrubbery. Open barns have been converted to provide shelter and the magnificent countryside views are simply breath taking. The spacious patron’s car park is also to the side and rear and has spaces for circa 60+ 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 10am to midnight

Current opening hours are:

Fri – Sunday 12noon to 9pm

Mon – Thurs Closed (Seasonal times)

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. 1. The asking premium will be £95,000.

2. The initial annual rent will be £52,000

3. Rent reviews - TBC

4. Rent payable monthly in advance.

5. Lease re-assignable after initial 2-year period.

6. Free of all brewery and supply ties.

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

8. Deposit equivalent of 3 months rent.

9. 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 mains water and electricity. Hot water and heating is provided by the use of immersion heaters in the heat stores and the multi fuel stoves with back boilers (services not tested). Business rates payable are advised as usually being circa £6,000 per annum although there is currently a discount on the current year. From 01/07/2021 – 31/03/2022 = £1,384.

THE BUSINESS

The current owners purchased the freehold property in 2012 and totally refurbished and transformed it re-opening in 2014. Now presented in an exceptional appearance and condition and fully Eco and environmentally friendly. Our vendor clients are now looking to lease the business on a totally ‘free of tie’ basis in order to be able take life at a more leisurely pace. The business currently operates on reduced hours purely through lifestyle choice and is operated by the owners themselves assisted by circa 8 part time/casual members of staff. The business offers a modern, fast food style menu freshly prepared on site and a selection of excellent beers, wines, and drinks served to locals, tourists, passing trade and a loyal, repeat and desirable clientele. We are advised that accounts declare takings of circa £654,656 (inclusive of VAT) for year ending 31st March 2020 achieved on a trade split of 50% Wet sales & 50% Food sales. GP’s achieved are Wet - circa 70% and Food - circa 80%. We calculate reconstituted net profits after adding back directors and one-off costs to be in region of £116,000. Currently trading only 3 days a week we are advised the current weekly turnover is still circa £10,000 (inc VAT). The opening hours have recently been reduced from trading 5 days a week and we are advised the weekly turnover was then on average circa £17,000 (inc VAT). Our vendor clients plan to close the business for the winter period from 1st November 2021 until Easter 2022. This is purely a lifestyle decision based on having such a sustainable and successful business. The business provides immense opportunity for a new operator(s) to come in and put their own stamp on it using ideas from their business plan. They may wish to continue to run the business using the same successful formula or may wish to take the business to the next level. In our opinion this could be achieved by extending the opening hours, and as the current owners have sustained and grown a successful business without any advertising, bookings, event nights or offers, the introduction of quiz nights, light entertainment and take-away food etc would promote the business further in order to achieve a higher turnover. This business would suit an operator(s) who have worked in a similar hospitality background.

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 07865 348375.

Viewing appointments can be made by emailing Guy Simmonds at sales@guysimmonds.co.uk or by contacting Richard Fletcher on 07865 348375.

Details prepared September 2021