Business for sale

Business description

Well presented and subtantial catering driven village public house located in popular residential village of cutthorpe at gateway to derbyshire peak district, west of chesterfield

attracting both locals and ‘trippers’ this is an extremely well positioned and established business offered at £95,000 lease assignment to include fixtures and fittings, goodwill plus s.a.v.

*T/O to Nov 07 £463,000 (Inc VAT) with well in excess of £ ½ million potential

*Informal lounge dining (90) plus locals Bar (30+) and Function Room (50)

*Large car park (100+) and decked patio areas

*Property backs onto village sports field

*Spacious well presented 5 bedroom owners accommodation

*Short drive from Chatsworth House and Bakewell

*Renewable 21 year lease with the Marston Pub Company

LOCATION (S42 7AJ)
The Derbyshire village of Cutthorpe sits on the B6050 from the A61 on the north-west of Chesterfield, with easy access from J29 and J30 of the M1. The village is a popular, upmarket residential area with mature, well established housing and above average amenities and schooling.

The village is located on a favoured route into the Derbyshire Peak District and National Park, and is just a few minutes drive away from Chatsworth House, Baslow, Bakewell, Matlock and Buxton. The are is popular for tourists and day-trippers, and the major cities of Derby, Nottingham and Sheffield are all within an hours drive away allowing the business to benefit from external and local trade.

PROPERTY DESCRIPTION
The property is a substantial brick building under a pitched slate roof, with large parking facilities,. It holds a strategic position within the village setting and back onto the village sports ground. From the side of the property, through the entrance hallway, there are ladies and gents toilets which are comfortably furnished.

From the entrance hallway, the main trading areas are reached: the main lounge (45) and informal dining room (45) are separated by a part partition wall but have direct through access.

Both areas are bright and airy with lots of natural light originating from the large panelled windows. The rooms have quality fixed carpeting and drapes to the windows; fixed covered deep seating together with matching captains’ and mates’ chairs surround polished wooden dining tables.

Timber half-panelled walls have pictures and general artefacts of interest in addition to ‘black boarding’ for merchandising purposes. Fireplaces are also featured in the rooms.

Although these rooms can be used separately, together they would be extremely useful to accommodate large parties (e.g. Coach groups) and this type of focus is not currently being exploited.

The central bar servery (with access to the deep chilled bar cellar) services all ground floor retail areas. The bar is of wooden panelled construction with polished counter top and matching back fittings.

The counter supports both real ale wickets and bright beer pumps. The locals bar (30+) is extremely well refurbished with fixed seating and low padded stools. The room is carpeted and has co-ordinated drapes. There is a hard surface ‘apron’ to the front of the panelled bar servery. Pub games such as darts are available.

The function room (50) is accessed from the entrance hallway and up a short set of stairs. There are moveable tables and stacking chairs, together with dance floor and quality carpet surround. The function room has its own bar servery.

The catering kitchen is located to the rear of the bar servery and is well equipped to commercial standards with full stainless steal extraction, 6 ring burner, microwave, ss under bench refrigeration, walk in fridge, combi steamer etc.

OWNERS ACCOMMODATION
The well appointed and comfortable family accommodation is situated on 2 floors. On the first floor there is a generously proportioned and comfortable lounge, fitted kitchen, large master bedroom, office/bedroom and spacious Bathroom with separate WC. On the second floor there are 3 further bedrooms (or bedrooms and a storage room) – there are excellent schools within easy distance.

EXTERNALS
Car parking for 100 vehicles is provided by way of 2 linked car parks. There is superb decked patio immediately to the front entrance of the pub and a further Patio Area adjacent to the public house surrounded by mature shrubs and trees.

From here there is direct access to the well-used Village playing fields (used for the well attended village gala) including a children’s play area. To the side of the property there is plenty of hard standing space for private use, together with well-maintained outbuildings used for food storage and refrigeration.

PREMISES LICENSES
We are advised that the business’s premises license allows trading from 11am till 12 midnight (11.30pm Sunday) all week. Current opening hours are 12 midday till 11pm Monday through Thursday and 12 -12 Friday & Saturday with 12 till 10pm Sunday.

TENURE
We are instructed to offer the business for sale by way of lease assignment, held on a FRI 21 year Union Pub Company lease ( Now MARSTONS) from 02 and is fully renewable (landlord & tenant Act protected) at no further premium, and is fully tied. It has a current rent circa £44,000, reviewed every 5 years, with some flexibility due to discounts received within the lease package

SERVICES
We are advised that the pub benefits from mains services with gas central heating throughout. Rates payable are circa £9768 p.a.

THE BUSINESS
Our clients have operated the business since December 2004 having purchased the lease through the firms MD.

Accounts to November 2007 show Sales of £463,000 inc vat on a sales split of 35% Wet to 65% Dry and has shown a healthy annual growth each year ( 2006 = £384,000) and indeed is still fulfilling this journey and we believe that there is probably in the region of £600,000 available sales to a new owner by re-focus on the locals bar trade and reintroducing pub teams and using available opening hours.

The area is known for its sustainable wealth and focus on local trade can only reap dividends to a new owner. A comparable business should return a net profit of approx 20% to net sales providing a handsome return on investment and effort, its all there to be taken.

A clearly identifiable opportunity to excel in a much coveted trading area

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

Ref: G4365L