With the glass half full (pardon the pun) there is a slowly creeping optimism that the much maligned Pub Industry is off the resuscitation table and starting to offer the sustainable and viable business and lifestyle opportunity that many yearn for.
According to research undertaken by the Campaign for Real Ale (CAMRA) the closure rate of pubs, which just a few years ago was racing skywards with no apparent end in site, is in decline. This represents a very positive indicator for those thinking of taking on a pub and good news also for those thinking of selling their free or leasehold interest.
All leisure sectors find their stability point where availability meets demand and it could be that the pub sector is now closing in on that point having witnessed a ‘clear out’ of less viable pubs and situations where supply clearly exceeded demand for example where a village had two pubs that were unsustainable but now has one that is thriving.
In a sense the pub business has become one where survival of the fittest is very much the way forward, with that ‘fittest’ tag relating to the offering in terms of customer attractiveness, which today often translates into high quality value for money food served in a pleasant and welcoming environment that caters for all generations and pockets.
What would appear to attest to that is that the pub industry has been through a considerable sea change. A raft of closures, Market Rent Only (MRO) options, and hostelries nibbling into each others sectors, has seen variable Pubs come through this turbulent time and emerge with an offering that is often something special and different.
As a company we have seen in 2017 a 30% increase in Pub (be they tied or free houses) enquiries, which is translating through into sales. As such, and in anticipation of this continued re-vitalising of the pub sector we have expanded our marketing of pubs by utilising the pub trade publication, the Morning Advertiser, the industry standard bearer, to effectively market our clients businesses. This change of strategy is already paying dividends as the number of pub deals we are concluding continues to grow.
This surge of interest means that if you are thinking of selling your pub - either the leasehold or the freehold - now is the time whilst the glass is very much half full!.
To arrange a valuation of your pub and benefit from our high levels of expertise and experience please contact me, Graham Timmins, at Miller Commercial on 01872 247019 or via [email protected]