Agent reports buyers still keen to re-open closed pubs

More than 60 per cent of closed pubs sold by a leading property agent since the start of the year have been re-opened as... pubs.

As many debate the conversion of shuttered sites to things like housing, takeaway restaurants and even dental surgeries, Neil Morgan, head of pubs at Christie + Co, painted a brighter picture last week.

"There are plenty of buyers who are keen to enter the pub trade and who recognise that the present market offers a real opportunity to buy a freehold business at an attractive price, thereby enabling them to fulfil their dream of running a pub," he said.

Morgan said his firm recently sold the freehold of the Beaconsfield Arms in the village of Occold, close to the Suffolk/Norfolk border, which had been closed for 16 months.

"The pub was sold to local buyer, Charles Appleton, from the nearby village of Wortham, off a quoted asking price of £175,000, amid strong interest from competing buyers," said Morgan.

The pub re-opened two weeks ago, following a complete refurbishment.

"Such sales further highlight our belief that even in these more difficult times, there are quality buyers out there actively looking to acquire a range of properties provided they are sensibly priced," Morgan added.