The food factor sees outlets in demand
Licensed property agents are increasingly marketing pubs that already enjoy a substantial food business.
Miller Commercial, based in Truro, Cornwall, reports an exceptionally high demand for pubs with restaurant facilities. Many pubs have traditionally enjoyed a 60:40 wet:dry trade split but, in the pursuit of higher profit margins, many licensees are now enhancing their restaurant and food facilities, particularly to cater for children. Miller has two pubs on the market which have the potential for a sizeable growth in food business under the right operator.
One of them, the Railway Inn at St Agnes, is available with six years of a10-year lease remaining, for £97,000. The second pub, the Treleigh Arms at Treleigh near Redruth, is a freehouse with good wet and dry sales, and is available for a £350,000 price tag.
Christie & Co reports a major success at the Robin Hood, Durley, Hampshire, since being acquired on lease by operators David and Helen Dent from regional brewer Greene King. The couple extended the property to provide a dedicated restaurant area and with a general refurbishment, transformed the fortunes of the business. In just two years it has now reached the £9,000-per-week turnover mark.
Since the Dents took over, the pub has won several awards for its food offer. "Gastro catering is taking pub food to an entirely new level, and is in some cases transforming the town or village wet-led boozer into desirable and highly profitable businesses in a relatively short period of time," reports Christie & Co.
"With the increased proliferation of pub company-leased estates over traditional freehouses, acquiring premises is relatively cheap, with less capital tied into bricks and mortar and more cash available to invest in the business.
"We have experienced an increased number of young or experienced chef/ patrons looking to move out of London and the cities to acquire lifestyle' businesses. "Living and operating in affluent and picturesque village or town locations across the south has become a big attraction for food entrepreneurs."
