Over the last few years more and more people are choosing to convert former public houses into private residential dwellings.Steve Oliver of London estate agents Paramount Properties has been selling pubs for alternate use for the last 8 years and gives a quick guide on buying a pub.
Planners: A good starting point is the local planners they will be able to give you their opinion on the feasibility of your plans
Local amenity: Is the property the only pub in the village? Although not impossible it will be harder to get planning permission if it's the last pub in village, planners like to have a least one pub in the area.
Precedent: Has a similar property already been converted? If yes then this will help your case also.
Listed: Find out if the pub is listed by English Heritage. Properties of importance are listed from Grade I to Grade II. Being listed wouldn't be a reason to stop the pub from being converted but may limit what you can do to it.
Change of use: A public house is classed as A4 use, to convert a pub into a house you will need to submit a planning application for a "change of use" from A4 to C3
Unconditional: Most Pubco's will only sell their pubs on an 'unconditional' basis, that is, you agree a price whether or not planning for a change of use is in place.
Finance: Getting a mortgage on a commercial property can be a minefield and time consuming, so you will need to speak to a specialist lender.
VAT: Most pubs attract VAT (value added tax) on top of the purchase as well as stamp duty, if VAT is applicable you may be able to avoid paying VAT altogether as VAT isn't charged on residential properties be serving a VAT waiver known as a VAT 1614D form. Further details can be found at www.hmrc.gov.uk
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29 Jun 2011
Guide to Buying a Pub
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