Agents see 'ever increasing demand' for pubs in Suffolk

Simon Jackaman Associates completed on two leases in east Suffolk in the space of one week at the end of last month, both going to experienced operators.

It added that there is more demand in the area from new entrants into the pub sector too.

The Volunteer Inn in Leiston sold off an asking price of £10,000 for the tied lease, and provides an open-plan bar, a games area and an enclosed garden. It also has letting accommodation.

The White Horse Inn in Beccles is a 17th century Grade II-listed town-centre pub that sold off an asking price of £22,500. The free-of-tie lease has two bars with a function room and a large enclosed pub garden.

Simon Jackaman explain-ed that an increasing num-ber of people are looking for a rural lifestyle. “Suffolk is not as much of a backwater as people think,” he said.

Jackaman added: “Both of these pubs were closed and not trading at the time they came to the market. These lettings demonstrate that there is interest from buyers and tenants alike willing to take on a pub where previous occupiers had not been successful.

“These are tough times in the pub industry. However, these sales show that, for the right opportunities, buyers are out there and this interest is definitely something that I am experiencing.”

Bill Colquhoun, of Christie+Co, has seen similar demand. He put it down to people looking for a lifestyle change outside London and getting more property for their money.

He added: “A lot of people are relocating because they’re going to have more choice in what they are buying, and it’s cheaper than London, Surrey and Berkshire. Suffolk is considered a good place to live.”