White HartTop Road, Calow, Chesterfield, S44 5TE

Description
The property comprises the ground and first floor of a two storey detached building with painted and rendered elevations beneath a multi pitched roof. There are a number of single storey extensions to one side and rear. The property has an approximate site area of 1.01 acres.

Accommodation
BASEMENT
The basement provides the cellar and wine store.
GROUND FLOOR
The ground floor trading area comprises a central bar servery with main bar area and restaurant for approximately 85 customers. Ancillary areas include customer WC’s (including disabled), wash/prep area and a commercial kitchen.
FIRST FLOOR
The first floor provides the manager’s flat which comprises three bedrooms, lounge, kitchen, bathroom, WC and an office.
EXTERNALLY
Externally there is customer trade areas to the side and rear of the property with seating on loose tables and chairs for approximately 100 customers, children’s play area and a car park for 50 vehicles.

Planning
The property is administered by North East Derbyshire District Council. We understand that the property is not listed nor is it situated within a Conservation Area.

EPC
D-87.

Tenure and Tenancy
The Property is held freehold (Tile Number DY182137), subject to and with the benefit of an Occupational Lease to Marston’s Plc (Company Number
00031461).

The Occupational Lease is for a term of 15 years expiring 22nd November 2031 at a passing rent of £57,964 p.a. The lease is drawn on a fully repairing and insuring basis albeit subject to a Schedule of Condition. The lease is subject to an upwards only rent review on 23rd November 2026 in line with RPI subject to a collar of 1% and a cap of 3%. The lease is drawn within the Security of Tenure provisions of the Landlord & Tenant Act 1954.

Covenant
Marston’s Plc (Company Number 00031461) are one of the largest pub companies in the United Kingdom with 1,468 sites and around 12,000
employees. The estate is well diversified with 81% Managed Houses (of which 1,057 are community focused sites) and 19% are Leased & Tenanted with a property valuation of £2.1 billion (FY 2022).

The business reported total revenue of £799.6 million, profit before tax of £163.4 million (FY 2022) and a Dun & Bradstreet risk rating of 5A2.

Terms
We are instructed to invite offers in excess of £785,000 (£135/SQ FT) which reflects a Net Initial Yield of 7.00% after deducting the usual purchasers costs. The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

Viewing
All viewings must be made strictly by prior appointment with Savills and under no circumstances should any direct approach be made to any of the occupational tenants staff.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.