The traditional British pub is currently under threat as never before. A combination of factors has led to more and more pub owners shutting down pubs and seeking to convert the buildings to other uses. Footfall in all pubs has gone down two-thirds in the last twenty years, and there just isn't the demand that there used to be. Beer sales are falling by 20pc year on year and pubs are closing at the rate of 5 a day. The price of freehold pubs continues to fall, as breweries, pub chains and pub companies offload unprofitable, struggling, run down or vacant pubs.Paramount Investments specialise in the sale of licensed and commercial properties and Sales Director, Steve Oliver has been selling pubs, wine bars, hotels and restaurants for the last 8 years. "The steady flow of these distressed pubs coming up for sale is creating tremendous bargains within the pub market for licensees and restauranteurs who know they can respond to the challenges facing the modern trade. However, with pub property prices at rock bottom, and the square footage of public houses and the surrounding land, such investments are proving to be the best value for property developers and investors."
Many of these pubs for sale on the market are freehold and occupy prime town and city centre locations with spacious yards, car parks, beer gardens and out buildings.
Steve Oliver continued: " Part of the reason these pubs are so attractive is that in some cases they come with planning permission for redevelopment. Pubs have a flexible A4 planning ‘business use class’ that normally can be changed to A1 use (say, for a newsagents), A2 (a delicatessen or a firm of solicitors or architects) or A3 (restaurants). And if you buy a property with planning permission, you can get on with your property development, modernisation or refurbishment project straight away."
But finding the ideal pub site to redevelop is not always that simple. Sites without planning permission are also available and most Pub Co'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.
"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, " advises Steve.
"Planners believe a pub is as essential to village life as a shop or post office. The loss of pubs, whether in rural or urban areas, can undermine the local economy and community. Although not impossible it will be harder to get planning permission for changing the use if it's the last pub in village as planners like to have a least one pub in the area. Your local planning authority will be able to give you their opinion on the feasibility of your plans and if a similar property has already been converted, then this will help your own planning application."
29 Jun 2011
UK Pubs For Sale - Freehold Pubs For Sale: Change of Use & Planning Permission
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