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INVESTMENT LICENSED PROPERTY CIRCA 9% RETURN: WELL PRESENTED TRADITIONAL THRIVING INN - CURRENTLY LET & PRODUCING AN ATTRACTIVE FINANCIAL RETURN, LOCATED IN THE BUSTLING DERBYSHIRE MARKET TOWN OF ASHBOURNE – GATEWAY TO THE GLORIOUS PEAK DISTRICT

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  • Positioned in the corner of the market place in the tourist populous and picturesque Derbyshire market town of Ashbourne. Gateway to the glorious Derbyshire Peak District - attracting circa 10 million visitors annually.
  • Open Plan Lounge/Bar trading area with exposed wooden ceiling beams, wall mounted HDTV’s, live Sky Sports, Pool table and pub games area.
  • Cobbled hard standing front Al Fresco patio area positioned adjacent to the towns central market place with wooden picnic benches.
  • 1st floor catering kitchen with dumb waiter to service the trading area.
  • 3 Bedroom owner’s accommodation.
CURRENTLY LET TO TENANT AT £25,000 ANNUAL RENTAL WITH INFLATION LINKED REVIEWS FOR REMAINING (APPROX.) 9.6 YEARS OF FULLY REPAIRING INSURING LEASE TERM. ATTRACTIVE ANNUAL RETURN FOR INVESTOR IN EXCESS OF 9%

ASKING PRICE £269,000 FREEHOLD INVESTMENT PREMISES

Location

This desirable Freehold sits directly on the marketplace in the market town of Ashbourne, known as the gateway to The Peak District. This tourist attraction is a world of contrasting natural beauty, with moors, dales, rivers, springs and caverns and at its heart it is known and loved by millions for its breath taking views, relaxation, inspiration and adventure. Ashbourne is a magnet at the southern edge of the Peak District with the start of the Tissington trail in the town itself and the walker’s and tourist’s paradise of Dovedale close by. The town holds an annual Shrovetide football match in the month of February and this highly popular event has been held here since at least 1667. Buxton, Matlock and Alton Towers are also within easy reach and the local road networks are excellent. The M1, A52 (running between Derby and Leek) and A38 are set amongst a series of ‘A’ roads making all areas easily accessible.

THE PROPERTY

This desirable Freehold sits directly on the marketplace in the market town of Ashbourne, known as the gateway to The Peak District. This tourist attraction is a world of contrasting natural beauty, with moors, dales, rivers, springs and caverns and at its heart it is known and loved by millions for its breath taking views, relaxation, inspiration and adventure. Ashbourne is a magnet at the southern edge of the Peak District with the start of the Tissington trail in the town itself and the walker’s and tourist’s paradise of Dovedale close by. The town holds an annual Shrovetide football match in the month of February and this highly popular event has been held here since at least 1667. Buxton, Matlock and Alton Towers are also within easy reach and the local road networks are excellent. The M1, A52 (running between Derby and Leek) and A38 are set amongst a series of ‘A’ roads making all areas easily accessible.

OWNERS ACCOMMODATION

The owner’s accommodation is situated on the 2nd floor and briefly consists of: 3 Bedrooms (2 Double / 1 Single), lounge and bathroom.

EXTERNAL

To the front of the property is a hard-standing cobbled Al Fresco area with wooden picnic benches (circa 24 covers). This looks directly across the towns central marketplace - a refreshing place to sit and watch the world go by. There is no car park for this business however there is a council owned pay and display car park (circa 40+) directly on the marketplace (available when the market is not functioning).

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen).

GENERAL REMARKS

Our vendor clients purchased the freehold in 2011 and have since refurbished and maintained the premises to a high standard. Our well-established vendor client is offering these valuable substantial freehold premises as an investment opportunity. Current annual rent is circa £25,000 - which offers the freehold investor in excess of 9% annual return on the asking price. Furthermore, unlike residential investment property/buy-to-let - the repair obligations are the responsibility of the lessee. The current lessee acquired the assignable lease in February 2017 and this totally free-of-tie lease has around 9½ years remaining and is not guaranteed renewable (i.e. excludes Sections 24-28 of the Landlord & Tenant Act 1954). Consequently it should be the Freehold owner’s/investor’s prerogative at the end of the lease to either consider granting a new lease on new terms (which Guy Simmonds can do on your behalf), or move into the premises. Alternatively the Freehold owner (at the end of the lease term) could sell the freehold licensed premises (as is) or explore the potential of alternative use - in which scenario there could be a potential future capital gain benefit. Please note the trade fixtures & fittings are owned by the current lessee and not the Freehold owner, as is the norm. The present experienced lessee is well known in the area and operates the business successfully as a pub (soon to introduce a traditional food offer) and has already established a very good reputation. Her business will continue, uninterrupted and securely as per the Lease Terms. Guy Simmonds advised upon the creation of the lease, which in addition to offering an attractive (circa 9%) annual return to the freehold owners, should hopefully be sustainable and realistic from the lessee’s perspective. Furthermore, the lessee has the benefit of a free-of-tie arrangement, at a realistic rent, thereby enjoying substantial barrelage discounts when compared to tied/Pub Co leases. Consequently, this should ensure that under committed tenants/operators, the lease is highly desirable & profitable thereby maximising the chances of longevity for the mutual benefit of the Landlord and Lessee.

We are informed that mains gas and electricity is connected (services not tested). Business rates payable are advised as currently being circa £3,156 per annum and obviously payment for these is the responsibility of the lessee not owner.

THE BUSINESS

In our opinion this freehold investment property would appeal to existing and experienced investors.

In addition this may appeal to potential new investors, who are currently receiving negligible interest on capital ‘sitting’ in a deposit account, whilst not wanting to risk their hard earned capital on the volatile money markets.

THIS IS AN EXCELLENT INVESTMENT PROPOSITION WITH AN ATTRACTIVE ANNUAL RETURN ON INVESTMENT

The property was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made via Guy Simmonds on 01332 865112.

ADDITIONAL IMAGES

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