Free Of Tie Village Inn In The Tiny Hamlet Of Crowdecote For Sale

Business description

IDYLLIC PEAK DISTRICT FREE OF TIE VILLAGE INN NESTLED DEEP IN THE DOVE VALLEY IN THE TINY HAMLET OF CROWDECOTE WITH BREATHTAKING VIEWS OF THIS POPULAR TOURIST HOT SPOT




A spectacular location and lifestyle opportunity.
Stunning views of Chrome and Parkhouse Hills.
Set in 1 acre with large Beer Patio and Gardens.
Main Bar (29) an Dining Room (30).
Ground Floor Function Room (30).
Owners' 4 Bedroom (2 En Suite), Living Room and family Bathroom.
Turnover to Y/E Sep 07 £265,000 (inc. VAT).
65% Food 35% Wet (the inn is renowned for it's menu).
Private Free of Tie Lease with 8 yrs remaining.
Extremely Attractive Rent.


AN EXCEPTIONALLY APPEALING OPPORTUNITY TO ACQUIRE A FREE OF TIE LEASE WITH SUBSTANTIAL EXISTING TRADE.


ASKING PRICE £99,950 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.


LOCATION
Set amongst the stunning scenery of the Derbyshire Peak District the tiny hamlet of Crowdecote is situated in the Dove Valley dominated by the impressive conical-shaped Chrome and Parkhouse Hills towering above. The Inn itself is a 16th Century Limestone built former Coaching Inn in the heart of upper Dovedale. The River Dove forms the boundary between the counties of Derbyshire and Staffordshire, and most of Crowdecote's residents are on the Derbyshire side of the river. The original Crowdy Coat Bridge over the Dove was a wooden footbridge. In 1709 this was replaced by a stone packhorse bridge, which was constructed to enable the heavily laden packhorse ponies to cross. It was a popular route and a toll cottage with a gate stood just on the Derbyshire side of the Dove. It is also thought that the name Crowdecote is a corruption of Cruda's Cot. Cruda was a saxon landowner and a Cot a form of shelter. The village is popularly thought to have been named after him.

THE PROPERTY

This substantial inn is an impressive 2-storey property of limestone construction under a pitched, tiled roof occupying a superb prominent roadside position.



The Main Bar (circa 29) is an L-shaped room which features a traditional lovely large prominent bar/servery. Furnished with upholstered perimeter seating, upholstered chairs and lightly polished tables.

The Dining Room (circa 30) is a good sized room with exposed beams and feature fireplace. Furnished with upholstered dining chairs and lightly polished tables. Access leads to a Laundry Room.

The Function Room (circa 30) is adjacent to the Dining Room and is similar in size.



It could also be utilised as further dining space.

Furnished with upholstered dining chairs and lightly polished tables.

Ladies and Gents W.C's, Disabled W.C.

Ground Floor Cellar is accessed from behind the bar/servery area and is well equipped with cooler and python systems.

Fully equipped commercial catering kitchen with stainless steel appliances (Appliances not tested) and preparation areas, along with a separate wash-up area.

OWNERS ACCOMMODATION

Situated on the first floor and briefly comprises: 4 spacious rooms, 2 Double Bedrooms (1 en-suite), 1 Single Bedroom en-suite and 1 Double Bedroom currently utilised as an office, large Living Room, and Family bathroom. These rooms have further potential to become letting rooms.

EXTERNAL

To the front and side of the property there lies a very good sized car park with room for 26 cars. To the rear of the property is a large External Seating Area comprising of a lawned Beer Patio and Garden offering seating for approximately 70.

TRADING AND LICENSING

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 - Sat 11.00am - 11.00pm

Sun Midday - 10.30pm

Current opening hours:

Mon - Closed

Tues 5.45pm - 11.00pm

Wed - Sat Midday - 3.00pm, 5.45pm - 11.00pm

Sun Midday - 3.00pm, 5.45pm - 10.30pm

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1 day NCPLH Course every 2 weeks. Please telephone us to reserve your place or browse the training section of this site.

GENERAL REMARKS

The business is offered for sale as an assignment with approximately 8 years remaining of this private free of tie fully repairing and insuring lease. We are informed that the rent is currently £8,000 per annum with a proposed increase to £9,000 in May 2008, and £10,000 in May 2009 This extremely low level of rent consequently means this business and lifestyle is exceptional value for money and highly desirable. 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 and Tenant Act 1954. We are advised that the inn benefits from mains electricity and water services and uses LPG Gas central heating (no services seen or tested). Business rates are advised as currently being subject to rural rate relief.

THE BUSINESS

The current owners took over the business in October 2003 as a family concern in this established business. This offers an ideal opportunity for owner operators to continue with the excellent trading levels and reputation that the current vendor client has achieved.

2006 sales are circa £249,000 (inc. VAT) for year ending September 2006 with 65% food and 35% wet trade. We are advised that for the year ending September 2007 the turnover is £265,000 (inc. VAT) and impressive growth can be demonstrated since the current owners took over in 2003. We calculate the reconstituted net profits (i.e adding back managers costs, finance costs, depreciation and other expenses) of a very impressive circa £45,500. The asking price reflects the location and the current trading foundation.

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

Property information

Property:

Leasehold