Fleurets' annual rental survey published

High-street operators in the West End of London continue to pay the highest rents in the country, reveals the Rental Survey 2005 from property agent Fleurets.

A licensee with a traditional pub in that part of London will be paying an average of £88,485 per annum (pa) - well ahead of other areas of the capital. An operator with a high-street venue in the bustling late-night area will be paying an average of £180,997pa. This is down from last year's figures at £183,917 pa.

Fleurets says it has recorded no new lettings in the West End in the past four years, indicating over-provision and reflecting Westmin-ster Council's tough stance on granting new licences.

The agent says that increasing numbers of higher rental values on the high street are being disputed by pub operators and licensees. More and more cases are being referred to arbitration and independent experts country-wide. Fleurets also reports that open market rents have fallen on the high street but the number of new lettings has dried up in most areas of the country.

The South East, covering East Anglia, the Home Counties, Bedfordshire, Berkshire and Hamp-shire, remains the most expensive area outside London. Licensees with a traditional pub there can expect to pay an average rent of £49,365 annually - up from £48,987 pa last year. High-street operators can expect to pay £107,788 pa.

In the South West, which includes the West Country and South Wales, high-street prices have continued to rise over the last year to £116,267 from £97,760pa in 2004. The cost of running a traditional boozer has dropped by just over £2,000 pa to £44,125. In the North, covering both the East and West Penn-ines and North Wales, licensees can expect to pay the least rent for a property. This is followed closely by the Midlands, where a traditional pub is being rented for an average of £36,397 pa.

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