Business for sale

Business description

A well known prestigious 18th century landmark coaching inn well presented & prominently located in the derby dales village of tansley nr matlock

Well proportioned business in “honey pot” quality location offering immense opportunities. Asking price £149,000 lease assignment to include extensive fixtures and fittings, goodwill plus s.a.v.

*Strong trading foundation Sales of £371,624 inc vat y/e 06/07 – 49% Dry to 42% Wet plus healthy 9% lettings income – Recon Net Profits of £75,000

*Sparkling beamed bar (30+) – Period Informal Dining Lounge (35) – Dining Room (46) – Three en-suite letting bedrooms

*Owners exceptional 4/5 bed roomed accommodation

*Large hard surfaced car park (60) – patio drinking – family gardens

*Main road positioning on A615 close to Matlock within the glories of The Peak District inc Chatsworth House, Alton Towers, Haddon Hall and Bakewell

*Fully renewable (at no further cost) 25 year lease from “04”, just partially tied

LOCATION (DE4 5FR)
One of the most sought after regions in the country The derbyshire peak district with its National park and derbyshire dales are the renowned setting for this old 1800’s famous Coaching inn.

Located on the busy A615 just outside the inland resort of Matlock & matlock bath and within 15 minutes of J28 of the M1 (the busiest motorway junction in the UK) and the A38 which is just a few miles from the City of derby makes this an ideal area for day trippers and “well healed” locals.

East Midlands Airport is around 25 minutes drive and the airports at Birmingham and Manchester a little more. The area has a mouth watering array of cosy traditional villages and bustling ancient market towns close by and is close to the major attractions of Chatsworth house, alton towers, haddan hall, Bakewell and the playground delights of the Peak district. For families, the local schools and amenities are amongst the best in the country.

PROPERTY DESCRIPTION
Believed to have been built in the 1700’s as a Coaching Inn, the property is of weathered local stone construction under pitched slate roofs. Bar (25 plus) has a sparkling traditional feel to it with a hard floor surface, fixed and loose seating to polished tables .

As you would expect from a property of this age and quality, the room has a low oak beamed ceiling and to one end a feature brick fireplace. Horse brass and local pictures are placed around the room which also has low panelled windows with drapes.

THE CENTRAL BAR SERVERY is of solid wood construction with polished top housing a full range of REAL ALE WICKETS and Bright Beer pumps. The bar servery has a coloured leaded light canopy above it.

INFORMAL DINING LOUNGE (35) has a quality fitted carpet and is more traditionally furnished to a dining room style with matching light oak tables and chairs. Once again the room has a beamed ceiling and many items of local bric a brac.

FORMAL DINING ROOM is also used for private functions, dinners and meetings of local groups and societies (including regular meetings booked by Derbyshire County Council whose main offices are nearby). The room has a fitted quality carpet, low beamed ceiling and light oak furniture.

LADIES & GENTS TOILETS are fitted to a good standard.

CATERING KITCHEN is located with easy access into all trading areas and is fully equipped with Commercial equipment.

BEER CELLAR is located below ground and fully chilled and has real ale stillages.

LETTING ACCOMMODATION
The Inn has three extremely popular letting rooms. Two Doubles and one Twin all with full en-suite facilities and central heating accessed by way of stairway from inside the Inn.

OWNERS ACCOMMODATION
A generous and comfortable arrangement with access from the Inn or privately from the side of the property comprising of a large lounge with deep set windows, quality fitted kitchen, good sized master bedroom plus 3 further double bedrooms, family bathroom with corner bath and sauna, large landings. The private accommodation is separated by security door from the Inn and guest letting rooms.

EXTERNALS
The business benefits from HARD SURFACE parking for 50 vehicles and could take coaches if required. To the properties front elevation there are wooden picnic tables set onto a raised patio. To the side of the property there is a grassed family garden with a fixed play station, and an additional enclosed garden to the rear.

PREMISES LICENSES
We are advised that the business trades with Opening hours of:12pm to 3pm then 5pm until close all week except Sunday when the business trades from 12 noon onwards for a very busy Sunday lunch. The Premises license allows openings from 11am till midnight all week with 1am Friday & Saturday.

There is obviously immense opportunity to extend on these opening hours which are convenient to our clients present circumstances. a personal license will be required and our training associate can assist with this and other BII regulated training.

TENURE
We are instructed to offer the property and business as an assignment of a punch lease of 25 years from april 2004. The lease is fully assignable and renewable at its end at no further cost and under no less favourable conditions for a further 25 year period at no further cost and then on every 25 years( subject to landlord & tenant act conditions).

Current business rent payable is circa £42,518 pa .there are no ties for wines, spirits, minerals or machines and discounts on beer purchases are provided.

SERVICES
We are advised that the Inn benefits from all mains services with GAS central heating. Business rates payable are currently advised as being £9400 per annum inc water.

THE BUSINESS
The business was purchased by our client through GA-SELECT during early 2006 with the intention of a long term stay at the pub enjoying a high return on investment and living within such a special location however due to unpredicted health reasons we have been instructed to assign the business.

The accounts till 31/05/07 show robust Sales inc vat of £371,624 on a split of 49% Dry to 42% Wet plus 9% Lettings. Reconstructed Net Profits (after adding back personal and exceptional items along with Directors salaries) after paying rent and all trade expenses show a healthy £75,000 p.a. with more to be taken with focus on potential opening hours and the operating style of the business.

Overall gp’s are currently running at 67.95%. The potential for this business must see sales increase to £650,000 with a subsequent rnp of above £125,000 for an operator who can work “hands on” within the business.

This is truly a fantastic and outstanding opportunity to live and work in a robust business and most desirable location

Accounts information will be made available to interested parties after viewing.

Ref: g4350l