Demand for pubs outstrips supply in East Anglia

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Related tags: Leasehold pubs, Suffolk

Buyers are outstripping supply in the pub market in the east of England, with agents reporting a booming sector.Freehold and leasehold pubs across...

Buyers are outstripping supply in the pub market in the east of England, with agents reporting a booming sector.

Freehold and leasehold pubs across Suffolk, Norfolk and Essex have been changing hands rapidly, with many potential buyers left disappointed.

The Ipswich office of property agents Christie+Co said the thriving market in the region was being driven by an ongoing shortage of available sites - particularly a limited number of freehold pubs.

Bill Colquhoun, pubs director, said: "We have experienced no deceleration in the pace of pub sales, despite the industry having a range of challenges to face, such as the introduction of a new licensing regime and the forthcoming smoking ban.

"Demand for freehold and leasehold pubs in East Anglia continues apace. This seems likely to continue for the remainder of this year - a healthy outlook for any existing pub owner considering a sale."

Recent freehold sales in the region have included the Grade II-listed Gin Trap Inn in Ringstead, near Hunstanton, Norfolk, and the Old Cannon Brewery in Bury St Edmunds, Suffolk.

Leasehold pubs changing hands include the Six Bells, the only pub in Preston St Mary, near Lavenham, Suffolk, and the Plough Inn in Brockley Green, Hundon, Suffolk, sold to British Country Inns in an off-market deal.

Mr Colquhoun added: "The outlook for the pub market in East Anglia is extremely positive, with keen demand from private buyers, experienced operators, regional brewers and national pubcos. Our expectation is that property values will continue to rise for the foreseeable future."

Related topics: Property law

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