Greenhill Tavern, Riddings, Derbyshire, DE55

Location:
The Greenhill Tavern is situated on Greenhill Lane in the large Derbyshire village of Riddings. The village is located 2.3 miles south of Alfreton, 16.4 miles northeast of Derby and 15.3 miles northwest of Nottingham. According to the 2021 census, the village had a population of 6,307.

Riddings has a variety of amenities which include a community centre, a vehicle dealership, two convenience stores, a holiday park, a primary school, a barbershop, a post office and a church dedicated to St James. The nearby town of Alfreton provides larger shopping outlets, supermarkets and fuel stations.

The Property:
The Greenhill Tavern occupies a two storey, detached brick building under a slate roof, and is believed to have been built in the 1700s.

The property briefly comprises:

Trade Areas:
ENTRANCE HALL with enclosed staircase to the first floor. MAIN BAR/LOUNGE with seating for 20, wooden main bar servery, open fireplace, part wooden and part tile flooring, rear external door and staircase leading down to the open plan BASEMENT CELLAR which benefits from an external barrel drop. SNUG with seating for 20, wooden flooring and open fireplace. GAMES ROOM/FUNCTION SPACE with seating for 24, tile flooring and an extension of the wooden main bar servery. INNER HALL with access to both Ladies' and Gentlemen's TOILETS and an enclosed staircase up to the first floor landing/private office.

First Floor:
LANDING/PRIVATE OFFICE with entry to Flat 1 & Flat 2.

Flat 1: DOUBLE BEDROOM. LOUNGE/KITCHEN. SHOWER ROOM. Ground floor PRIVATE ENTRANCE.

Flat 2: TWO DOUBLE BEDROOMS. LOUNGE. KITCHEN/DINER. BATHROOM.

External:
TRADE PATIO with wooden bench seating for 80. Single GARAGE with roller door. OUTBUILDING utilised as a wood store. CAR PARK with space for 20 vehicles. (Please note: the car park provides right of way access to an adjacent residential property which is excluded from this sale).

Licence:
A Premises Licence is held permitting the sale of alcohol:
Sunday to Thursday: 11:00 - 00:30
Friday and Saturday: 11:00 - 01:30

Services:
All mains services are connected. The property has oil central heating downstairs and gas central heating in the private first floor accommodation. The property benefits from being fully double glazed and includes a fire alarm and a six camera CCTV security system.

Rateable Value: £4,500 as at 01 April 2023 to present.
Local Authority: Amber Valley Borough Council.

Business:
The Greenhill Tavern has been owned by our client's family since 2013. The business is operated by our client alongside a full time manageress and five part time staff members, and trades primarily as a wet-led community public house. The majority of the business's trade is generated by local residents but it is also visited by holidaymakers who frequent the nearby campsites.

The Greenhill Tavern hosts a number of events such as bingo nights, raffles and live music gigs as well as charity functions and fundraisers. The premises also supports a darts team and a dominoes team.

We have been informed the most recent annual net turnover is in the region of £250,000. Further accounting detail will be made available to serious parties following a formal viewing. (Please note: we have not inspected audited accounts).

Tenure:
FREEHOLD Asking Price £290,000 to include goodwill, fixtures and fittings. Stock at valuation in addition.

Alternatively, our client will consider the creation of a new lease on the following terms:

Leasehold Premium: £25,000 to include goodwill, fixtures and fittings. Stock at valuation in addition.
TERM: Seven years.
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954.
ASSIGNABILITY: Fully assignable subject to Landlord's consent.
BOND: A bond equivalent to three months' rent in advance.
RENT: £24,000 per annum, paid monthly in advance.
RENT REVIEW:Every three years in accordance with open market assessments.
REPAIR LIABILITY: Full repairing and insuring lease.
TIE: Free of all trade ties.
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent.
VAT: VAT will be payable on the premium and rental payments.
NEGOTIATION: All negotiation subject to covenant strength. An incoming party will be required to demonstrate sufficient funds to sustain their business model and will need to demonstrate ingoing capital to cover the Premium, rental deposits, stock and working capital as a minimum.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.