Regional focus on...Yorkshire
Population: 5,288,200
Largest towns and cities: Leeds, Sheffield, Bradford, Kingston upon Hull, York, Huddersfield, Doncaster, Rotherham, Halifax, Barnsley, Wakefield
What the experts say: "There continues to be some great opportunities in Yorkshire’s cities, suburbs and rural areas. Town centre sites both freehold and leasehold in the golden triangle of Leeds, York and Harrogate and major centres such as Sheffield are highly sought after, with prices remaining strong. New developments such as the recent opening of the Dakota Hotel on Greek Street in Leeds have led to multiple openings and rebranding of high quality bars and restaurants in the vicinity.
“Secondary towns are also increasingly becoming more desirable. One example is Hull, having been the UK’s City of Culture in 2017. Hull’s increasing popularity can be illustrated by the leasehold sale of Garbutt’s Bar on Princes Avenue, handled by Fleurets, which sold for a strong six-figure premium.
“Successful village and countryside operations tend to have merged the boundaries of the traditional wet-led pub, subsequently offering drinks alongside a strong food offering as well as accommodation. Pubs of this style, reporting strong turnovers, are available but at very competitive prices when compared with their pre-2008 levels. Equally, at the other end of the market there is still a supply of cheaper freeholds in need of refurbishment and restructure.” - Andrew Spencer, associate, Fleurets.
On the market elsewhere
The Nags Head, Middle Rasen, Lincolnshire
Price: Offers over £35,000
Tenure: Free-of-tie lease
Rent: £12,000
Landlord: Private
Turnover (annual): £141,206
Wet:dry split: 60:40
Agent: Davey Co, Nottingham, 0333 200 8788
Close to Market Rasen, this substantial freehouse and inn boasts well-presented trading areas for c100 covers, and extensive outside trading facilities. There is spacious three-bedroom owner’s accommodation and planning for seven ensuite letting bedrooms, therefore providing huge further development potential.
The Red Lion, Stickford, Lincolnshire
Price: £260,000
Tenure: Freehold
Turnover (annual): £82,153
(inc VAT) to March 2017
(limited hours – lifestyle)
Wet:Dry split: 75:25
Agent name and phone number: Guy Simmonds
01332 865112
This attractive village inn with parts dating to the 18th century has owner’s accommodation of three double bedrooms, plus two ensuite letting rooms. An al fresco garden area has c30+ covers, the car park has space for c24 cars, and there is a self-contained paddock that provides opportunity for many uses.
To find out more about pubs for sale, lease and tenancy visit our property site.
