News > Property News

One in five pubs sold for alternative use

By Ewan Turney , 26-Jan-2009

Related topics: General News, Property News

One in five licensed premises are now being sold for alternative use, says the Association of Valuers of Licensed Property.

Whittle: honorary secretary of the AVLP

Whittle: honorary secretary of the AVLP

One in five licensed premises are now being sold for alternative use.

 

That is according to a survey of over 100 members of the Association of Valuers of Licensed Property (ALVP). The survey also showed that leasehold prices have fallen 37% and freehold prices 22% over the last year. Inquiries for licensed property have dropped by 19%.

 

"This survey shows some interesting information — perhaps the most poignant, relates to the change of use stats, with one in every five sales resulting in a change of use," said honorary secretary of the AVLP Bob Whittle.

 

"This stat isn't that surprising given the current state of the market, but does bring to light the presence of resilient buyers being out there.

 

"For those looking to sell it is important to use an experienced reputable agent who can put them in touch with such a breadth of potential purchaser — contacting the Association of Valuers of Licensed Property would be an excellent place to start this search."

Find us on Facebook

Spotlight

Poppelston Allen: Understanding recorded and live music law

10 tips on the Live Music Act

Never has the law relating to live and recorded music been so complex. Here is a brief...

National Minimum Wage - what you need to know

National Minimum Wage - what you need to know

HMRC is naming and shaming pubs, hotels and restaurants that pay below the national minimum wage. The...

The Big Interview: Mike Benner, SIBA

The Big Interview: Mike Benner, SIBA

In June Mike Benner left the Campaign for Real Ale (CAMRA) after 20 years of campaigning, to...

Q&A: New pub food allergy requirements

Q&A: New pub food allergy requirements

Whether or not you serve food in your pub, the balance between your culinary and administration skills...

Follow us on