Ask An Expert: Viewing a pub

I¹m planning to buy a pub and have been offered several to view. What should I be looking at and what questions should I ask?

First find out what, exactly, is for sale. Ask where the boundaries of the property lie and, if it is a freehold, does the freehold apply to the whole site? Sometimes a pub is sold freehold but the car park is leased.

Find out what fixtures and fittings are included. Beer taps, for instance, may be owned by brewers.

Establish whether full vacant possession is being offered ­ are there any tenants living above the property?

If the pub is a lease you need to look at the terms. As well as the tie these may include covenants or rights of way through the property and Œencumbrances¹ ­ clauses which prevent you doing specified things. Some pubs are sold Œdelicensed¹, meaning the building may not be run as a pub.

Establish whether a survey is needed and whether any planning or Green Belt issues apply, particularly if the building is listed or lies within a national park. Current planning permissions may also have to be taken into account.

The terms of the licence are vital ­ especially with regard to opening times. Also, find out whether any enforcement notices apply.

This brings us on to the area around the pub. As well as analysing the competition, take a look at the neighbourhood. Consider whether it fits your business plan ­ and your skills as a licensee.

Utilities are a thorny issue. Licensees have taken over pubs to find several agreements are operating with different suppliers. In other cases new tenants have been left with outstanding bills.

Mark Greig is managing director of property agency Paramount Investments.​

www.paramountinvestments.co.uk​