Property boom as pubcos head north of the border
Low interest rates and pub companies moving north of the border are two of the reasons for the licensed property trade enjoying a boom time at the moment.
The last year has seen a rise in sales as companies and individuals take advantage of low interest rates and rush to buy pubs and other licensed properties, such as hotels, in Scottish cities, towns and villages.
"It's been very good in terms of individuals wishing to invest and there's been a lot of corporate activity," said Denis Hillier, associate director of Christie & Co's Edinburgh office.
Companies such as JD Wetherspoon, Pubmaster and Punch have all increased their investments in Scotland recently - something Mr Hillier said has had a big effect on the property market.
"Obviously they are looking towards Scotland to feature in their expansion programmes," he said. "Every major city in Scotland now has a Wetherspoon, which is positive for us." (pictured above is JDW's outlet in Ayr).
Low interest rates are also playing a big part in the success of the property market north of the border, particularly for individual buyers.
"The base rate for lending is as low as it's ever been in my lifetime," Mr Hillier said. "If money's cheap then people will buy - so the market is going from strength to strength."
The domestic property market is also helping individuals buy pubs. If people find it easy to sell their home, they can invest more easily in licensed property.
Popular properties remain in high streets and on precinct sites in cities such as Edinburgh, Glasgow, Aberdeen and Dundee, for the major pub companies - many of which are moving into Scotland for the first time.
But for individual buyers, rural Perthshire is one of the most popular areas.
"It's very popular and always has been, largely I think, because there's so much to do there such as golf and fishing," Mr Hillier said.
Fortunately much of rural Scotland escaped the worst of the foot-and-mouth epidemic - although the effects of the attacks on the World Trade Center and the Pentagon along with the air strikes on Afghanistan are yet to be seen.
