First Time Buyers Property Rental News ARLA Property Investments News Bank Interest Rates
|
|||
|
UK Pub Sales News: 2011 was actually a good year for pubs Wed, 14 Dec 2011 17:15:09 +0000 Unexpectedly, 2011 has been a good year for the licensed trade says Pete Brown of the Publican’s Morning Advertiser. And Mr Brown says he is feeling very positive about what 2012 will have in store for those with or looking to buy a pub. He feels that many of the claims about pubs failing are misleading as bad news is always reported more widely than good news and that CGA Strategy’s prediction that new pub openings will soon exceed closures as a good indication of the way which the trade is heading. However, he points out that many of new openings will be a “different breed of pub from those which are closing: they’re more premium, more expensive, a bit flashier”. His comments follow on from advice given by the All Party Parliamentary Beer Group recently, which said that adding a food menu to your pub's offerings is one of the best ways to boost trade. UK Pub Sales News: Licensed trade set for growth over the next few years Wed, 23 Nov 2011 12:34:15 +0000 The licensed trade in the UK will be flourishing again in the next few years. Figures released by CGA Strategy highlighted that closures of public houses are now at the lowest level for more than four years. Speaking at a media briefing for Suffolk-based cider producers Aspall, CGA's Scott Elliott said that the licensed trade was evolving due to forward thinking publicans and growth can be expected from 2015 onwards, reports In a Pub News. “The ones that are opening are very different to the ones that are closing. 50 per cent of all new openings are a hybrid kind of concept. The café /wine-bar outlets with a good range of premium products including decent cask ales," he stated. His comments follow on from advice given by the All Party Parliamentary Beer Group recently, which said that adding a food menu to your pub's offerings is one of the best ways to boost trade. UK Pub Sales News: Pubs remain a solid investment, figures show. Mon, 14 Nov 2011 14:28:19 +0000 Pubs and restaurants continued to defy the gloom and remain a solid investment, figures from Coffer Peach's Business Tracker show. Collectively, like-for-like sales between the two sectors rose by 0.9 per cent during October. Peter Martin of Peach Factory, which investigated the sector in partnership with KPMG and UBS, said that figures in the hospitality trade continue to grow because the recession did not slow down people's desire to go out to eat and drink. He added: “Quality is still the main factor in choosing where to go out, but value is becoming increasingly important, and with the cost of eating-in and eating-out narrowing in many parts of the market, it remains an attractive proposition even for those with families." His comments follow on from advice given by All Party Parliamentary Beer Group, who said that the licensed trade is still very lucrative providing pub landlords are prepared to diversify their offerings, particularly for traditional pubs branching into serving food. UK Pub Sales News: Food sales could boost your pub's revenue Fri, 11 Nov 2011 12:15:37 +0000 People looking to buy a pub should consider the benefits of serving food, says the All Party Parliamentary Beer Group. Robert Humphreys, secretary of the organisation, warned that times are still hard for many in the licensed trade but he said that it is still a very lucrative and rewarding industry for those prepared to research their market and try new things. For many pub landlords that could be starting a food menu. "Increasing the amount of food you sell if you have the market to justify it is a very sensible approach in times when alcohol consumption is slowly declining," he said. "It can be a bit risky, you are sticking your neck out a bit further if you decide just to go into high quality preparation and service but the rewards are considerable if you get it right. "If you are diversifying from a more traditional pub model which is beer-based into other business activity it is a very sensible way of spreading risk and expanding potential markets." Mr Humphreys advised that anyone making the move into running a pub should firstly get to know the market and ideally have some kind of experience in the trade, whether that be as a member of bar staff or as a manager. He added that, while serving food is undoubtedly a good idea for many, there is no set formula for a successful business. He said that it is important to weigh up the cost of supply and extra staffing, such as an on-site chef and waiters. His comments come following claims made by Michelin Guide editor Rebecca Burr, who said that gastro pubs were far outperforming traditional ones during the recession. Last month the Hand & Flowers public house in Marlow, Buckinghamshire became the first pub in the UK to be rewarded with two Michelin stars, the golden seal of approval for any eatery. Licensed property news: Investors may focus on hotels for sale as sector grows Tue, 18 Oct 2011 14:33:10 +0100 Hotels, bars and restaurants in London have been tipped to play a leading role in driving the UK economy out of recession, with this both creating thousands of new jobs as well as numerous opportunities for those looking to put money into hospitality sector property. While growth in the UK economy as a whole remains sluggish, a spate of news reports indicate that the national hospitality sector is bucking the trend, with hoteliers in particular reporting renewed optimism. According to a study published by Oxford Economics in partnership with the British Hospitality Association (BHA), tens of thousands of new jobs are set to be created by the sector's growth over the next few years. Notably, this will go hand-in-hand with the construction and opening of new properties, including hotels and restaurants, again spelling good news for investors keen to tap into this potential. The newly-published report highlights the importance of the next few months to the general wellbeing of not just the hospitality sector but of the UK economy as a whole. In particular, it is widely-anticipated that the 2012 London Olympics, as well as the Queen's Golden Jubilee, which will be celebrated next year also, will go a long way towards placing the country firmly on the road to economic recovery, just as prime minister David Cameron noted back in the summer of 2010. Illustrating the extent to which opportunities for property investment in hotels have picked up over recent months, the study found that more than 50 new hotels have been opened in Wales since 2000, with these creating thousands of people, generating millions for the Welsh economy and potentially helping to generate significant returns for investors. Such a sense of optimism is supported by a separate report, this one the Hospitality Employment Index published by Caterer.com and People 1st. According to the duo's joint research, the number of new jobs being created in the sector is growing at its fastest rate for more than two years right now, with the upcoming Olympics again being cited as the main driver of this trend. Notably, releasing their findings, the pair state that such an upturn in employment opportunities is perhaps the strongest signal yet that the hospitality sector is bucking the national economic trend and going from strength to strength in the face of a possible double-dip recession. Meanwhile, the UK culture secretary Jeremy Hunt has revealed that the government is in talks with the hospitality sector over the possibility of offering Britons discounted rates in hotels, bars and restaurants in London for the duration of the 2012 Games in order to prevent a mass exodus out of the country next summer. UK Pub Sales News: Hotels present good investment opportunities Thu, 21 Jul 2011 14:00:32 +0100 Individuals wanting to invest in hotels for sale might be interested in comments made by IPINGlobal.com. Researcher Peter Mindenhall noted: "The hotel industry has reported strong growth in recent months; the major hotel chains are expanding. "As a result, much of their development is now being funded by private equity rather than by the banks - presenting opportunities for private investors to capitalise in areas where the banks are no longer prepared to." Student accommodation in London is another area of the property market currently presenting opportunities. "Where traditionally houses would be converted to accommodate students near universities, this is becoming less cost effective when compared to the value and quality that a managed new development can offer," Mr Mindenhall added. Steve Oliver of Paramount Investments said he agreed with the findings. "Boutique hotels are in demand as are the cheaper budget hotels. Travelodge and Premier Inn are continuing with their expansion," he noted. His remarks came after research from Jones Lang LaSalle found that hotel investment volumes in Europe, the Middle East and Africa reached £2.97 billion in the first six months of this year, up 73 per cent from the same time in 2010. UK Pub Sales News: The Britannia Inn up for sale Thu, 14 Jul 2011 17:11:54 +0100 People interested in investing in pubs for sale might be pleased to hear of a new opportunity in Lancashire. The Britannia Inn located in Darwen, near Blackburn, has been put on the market for £160,000 and could undergo a change of use if it is snapped up by a canny buyer. Its owner, Thwaites, claims the pub trade is no longer viable in its estate, the Blackburn Citizen reported. Another pub, the Mill Gap, which stood down the road from the Britannia Inn, was also shut down by Thwaites in 2009 and was transformed into a commercial building. Councillor Brian Taylor told the newspaper: "The Brit has been a popular pub ever since I was a lad and with the Mill Gap shutting across the road it's a sign of the times. "Because the two pubs were such a short distance from each other people used to go in to the two probably on the same day. It's the end of an era," he added. UK Pub Sales News: The Brookmans for sale in Hertfordshire Wed, 13 Jul 2011 13:09:50 +0100 Investors looking for pubs for sale might be interested to hear that the Brookmans in Hatfield, Hertfordshire, has been placed on the market by its owner. The bar and restaurant venue will continue to trade as a public house until it is sold, along with sister pubs The Vine in Ware and The Plough in Coton, all of which are owned by BBL Holdings. Chris Bickle of leisure property specialist Davis Coffer Lyons told the Welwyn Hatfield Times: "The Brookmans offers the perfect opportunity for an experienced operator to take on this strong turnover business with genuine scope to develop trade." The pub is popular with locals, counting housing minister Grant Shapps MP among its patrons. Meanwhile, Steve Oliver, investments director at Paramount, has advised those looking for bars for sale to try their luck at an auction, as these can occasionally throw up a bargain. He suggested implementing some ground rules before attending the auction, such as setting a limit and sticking to it. "If you think you'll get carried away, send someone else to bid on your behalf. Most pubs sell for more than the guide," Mr Oliver added. UK Pub Sales News: Malt Shovel in Coventry to undergo change of use Tue, 05 Jul 2011 17:02:58 +0100 Investors who are looking for pubs for sale might be interested to note that the Malt Shovel in Coventry is a "centuries-old pub with historical significance", according to the Campaign for Real Ale (Camra). Camra branch chair Mike Tierney argued in the Coventry Telegraph that the old pub, which is located in the Spon End part of the city, should not be subjected to a change of use application because this would have "an adverse impact on the nature of the locality". Unfortunately for would-be investors, the Malt Shovel has already been bought and is reportedly to be transformed into a hypnotherapy centre. Planning permission has been granted despite opposition from Camra, although councillors made an alteration to the application to ensure the venue will go back to being a pub if the new business fails. Meanwhile, two former school buildings in Bolton could undergo a change of use and be turned into student accommodation. UK Pub Sales News: Gloucester pub on sale for £30,000 leasehold Mon, 20 Jun 2011 17:10:18 +0100 Property investors looking for pubs for sale might be interested to hear that the Fox & Elm in Tuffley, Gloucester, is on the market for £29,950 leasehold. The Citizen reported that the premises include gardens, a three-bedroom flat and a dining room, with rent set at £16,000 for the next two years. A skittle alley, children's play area and large car park are also part of the pub, which was last refurbished in 2004. It also has 14 years left on a renewable Marstons Inns lease, while prospective investors might be pleased to hear that it turned over £180,000 in the last financial year. Councillor Gerald Dee told the newspaper that it is hard for the pub to compete with cheap alcohol sold in supermarkets. "I would like to see it continue as a successful pub but I am not sure if it could unless they started serving food," he added. The Campaign for Real Ale noted that the site has hosted a pub for at least 60 years, having been known as the New Inn, the Blinking Owl and Fox & Elm over time. UK Pub Sales News: Listed pubs for sale in the West Country Thu, 16 Jun 2011 17:09:29 +0100 Property investors looking for pubs for sale might be interested to learn that two special properties in the West Country have come on the market. ThisisDevon.co.uk reported that the Grade-II listed Ashill Inn in Culm Valley has been put up with a value of £295,000. The freehold includes a restaurant, ground floor bar and commercial kitchen, along with two double bedrooms and a pool room. Meanwhile, the Swindon Advertiser stated that the Queen's Head in Dunkirk Hill, Devizes, is also on the market. The pub, which is Grade-II* listed, has been granted planning permission to undergo a change of use and be converted into a house. Paul Redman, joint owner of the empty pub, told the news site: "We spoke to agents about it reopening as a pub but they were recommending lower rents for it and there were better conditioned pubs coming on to the market. Everyone was telling us that other pubs would survive before this one. It was obvious no one would want it." He noted that turning the pub into a home raises its value and would allow it to be repaired properly. "Structurally the property is pretty sound. There are no major defects but it does need a lot of work done on it," Mr Redman added. Steve Oliver, negotiator at Paramount Investments, commented: "Although I'm sad to see another pub close, I'm pleased that this old building will be restored for future generations to enjoy the outstanding architecture." Licensed property news: Localism Bill 'could affect pub sales' Mon, 06 Jun 2011 11:28:37 +0100 People thinking of buying a pub might be interested to hear that the government's Localism Bill could affect the way purchases are made. The British Beer & Pub Association has called for changes to be made to the community right to buy proposals under the legislation, as in their current form the organisation fears pub sales could be hindered. Martin Rawlings, director of pub and leisure at the association, commented: "We want to see as many pubs stay open as possible - and community right to buy definitely has a role to play in keeping community pubs open. But many pubs are successfully bought and sold every day, and thrive under their new ownership." He said the organisation would like to see the transfer of ownership process remain free of costly delays but retain the benefits and safeguards of the community right to buy proposals. Meanwhile, director of strategies at the Association of Licensed Multiple Retailers Kate Nicholls told the Morning Advertiser that her organisation has raised concerns about assignment of leases. Change of Use News: Former pub to be transformed into education centre Fri, 25 Feb 2011 17:06:20 +0000 A former pub is set to experience a change of use after permission was granted to convert it into an Islamic education centre. The Blackburn Citizen reported that the Dog Inn will soon house a madrassa for up to 20 children. However, some residents nearby have raised concerns of high levels of traffic as parents come to drop off or collect their children from the education and cultural centre. To tackle this, Blackburn with Darwen Council planning chiefs have granted the development a 12-month temporary permit, during which traffic levels will be monitored. Councillor Dave Smith told the newspaper: "It's a better use of the building than a very busy pub." Meanwhile, the former Clicker pub in the Headlands area of Northampton is also the subject of a change of business use proposal, with the Gulzar-e-Madina Welfare Trust submitting an application to turn it into an Islamic community centre. The application is due to be heard at next month's Northampton borough council planning meeting, the Northampton Chronicle and Echo reported. Change of Use News: Change of use applications 'are on the increase' Fri, 25 Feb 2011 17:02:07 +0000 Planning applications concerning change of use are on the rise, according to research from a law firm. EMW's figures show the number of change of business use submissions increased by nine per cent to 6,200 in the second quarter of 2010 and grew ten per cent to 6,800 in the following three months, Building.co.uk reported. "The jump in planning applications for change of use shows that landlords and developers are now willing to take action and commit resources to try and get into the segment of the property market where there is the most demand locally," explained Giles Ferin, planning specialist at the commercial law firm. Owners of commercial property in London and other parts of the UK could run into difficulties when local authorities want to "preserve the mix of different uses", as it means they are sitting on vacant property because there is no demand for that type of building, he added. The research comes as Nottingham City Council announced landlords in the city will have to obtain planning permission if they want to open their rental property up into a shared house for up to six unrelated people. Change of Use News: Lincoln pub to be turned into flats Tue, 15 Feb 2011 16:43:31 +0000 A former pub is set to undergo a change of use and be developed into a block of flats. The disused Monks Abbey pub in Lincoln has obtained planning permission to be transformed into four flats, which will then be let out to students when construction is complete, the Lincolnshire Echo reports. Andrew Wilding, planning agent for the site, said in his application that a decline in trade made it difficult to find an alternative use for the building. "It is big enough to make a generous family home, but the area is too noisy and full of traffic fumes," he pointed out. "The lack of reasonable car parking precludes the use as offices, while the present economic difficulties make it unlikely anyone would want the premises for retail." He said this particular area of Lincoln appears to be flourishing, so the building could do well to contain two four-bedroom flats, one three-bed apartment and a two-bed flat. Change of Use News: Pub to be redeveloped into supermarket Wed, 02 Feb 2011 13:06:57 +0000 An award-winning pub will be subject to a change of use if plans for a new supermarket go ahead. The Wimborne-based Royal Oak in Dorset is located on land that has been assigned for redevelopment in a bid to regenerate the area, the BBC reported. Hill Richmond, the landowner, told the news provider: "The area has been earmarked by Bournemouth council for a supermarket and convenience shops, with an additional 150 car parking spaces." Martin Burke, director of the company, said: "We are sorry that the pub land is needed to carry out the essential highways improvements for this redevelopment, but we hope that our scheme will help regenerate the Kinson area for the benefit of local people, who will not have to travel further afield for their weekly shop." The Royal Oak has been named winter pub of the season by the local branch of the Campaign for Real Ale and is nominated for the Pub of the Year Award. Change of Use News: Derelict pub to be redeveloped Mon, 31 Jan 2011 17:05:55 +0000 An old pub site has undergone a change of use and is set to be transformed into affordable housing. The derelict Willows pub site has just been given planning permission to have 22 new homes built on it. Situated near Morpeth, the property investment will be funded by the Homes and Communities Agency (HCA) and developed by Two Castles housing association. Each of the new homes will be the first in Northumberland to achieve level four of the government's Code for Sustainable Homes. Alan Davies, investment and regeneration manager at the HCA, commented: "With a range of eco-friendly features, including energy-efficient solar panels, compost bins and cycle storage, the new homes will be a step up for greener living in Northumberland." The news comes as the HCA announced a £2.4 million investment into a change of use development in Stockport, in which a former brewery is set to be redeveloped into an affordable housing programme. London Property Investment News: Commercial property in London 'sees strong return' Wed, 19 Jan 2011 17:15:19 +0000 Commercial property in London and other parts of the UK has seen its strongest return in four years, according to research from Investment Property Databank. The sector delivered a 14.5 per cent return in 2010, a significant improvement from the 2.2 per cent recorded the previous year, the organisation's monthly index showed. Office space in London was one particular driver, with "a combination of global as well as domestic economic forces" fuelling this, managing director Phil Tily noted. "A clear divide has returned to the UK property market - London versus the rest of the UK - which will be exacerbated as the impacts of the government's budget cuts take hold during 2011," he added. Similarly, interest turned to buying a pub last year, Paramount statistics show. Steve Oliver, senior negotiator at Paramount Investments, commented: "December was an extremely busy month for the Paramount Investment department with more than 30 properties exchanging contracts. "There were a number of reasons for this - one was that vendors were more realistic in their aspirations on price. They also felt that with the VAT increases coming into effect in 2011 it made business sense to secure a sale now," he added. In total, the property company sold 215 in the previous 12 months. London Property Investment News Licensed property news: RICS publishes new pub rental valuation guide Thu, 23 Dec 2010 17:07:22 +0000 Prospective landlords thinking of renting a pub may be interested to hear that the Royal Institute of Chartered Surveyors (RICS) has published guidance on rental valuations. Drafted by a number of industry experts, the guidance comes as a response to MPs on the Business, Innovations and Skills Committee calling for a clarification of rent assessment processes. While the advice is not legally binding, RICS suggests that if surveyors are sued for negligence, courts may take note if the defendant did not follow the guidance. "In the opinion of RICS, members conforming to the practices recommended in this guidance note should have at least a partial defence to an allegation of negligence by virtue of having followed those practices," the organisation said. "However, members have the responsibility of deciding when it is inappropriate to follow the guidance. If it is followed in an inappropriate case, the member will not be exonerated merely because the recommendations were found in an RICS guidance note." Licensed property news: London's nightlife sector 'shows better sales and turnover' Tue, 21 Dec 2010 17:18:14 +0000 Landlords who are renting a pub in London may be interested to hear that the city's bars, clubs and restaurants are enjoying improved sales and turnover, despite freezing conditions and the aftermath of the recession. A survey of licensed properties for sale, rent & lease in the Square Mile by the London Chamber of Commerce and Industry revealed that nearly half (48 per cent) of managers said 2010 has seen better Christmas trading than last year, while 32 per cent said they could not see any difference between the two years. Some 56 per cent reported more profitability in their business compared with 2009, while half said their turnover was up and 60 per cent revealed their sales had increased from 12 months ago. Colin Stanbridge, chief executive of the representative organisation, commented: "Last year saw London's leisure and hospitality sector bounce back from the recession so it is particularly heartening to find that 2010 has been even better still. "It is not only landlords that have reason to be happy though, our survey results show that City professionals again have money to spend as London's vital services industry continues its resurgence." |
|||
