The company’s Business Outlook 2022: Adjust, Adapt, Advance report looked at the themes, activity and challenges of 2021 as well as forecasts for 2022.
It also revealed the highest value deal was Admiral Taverns’ acquisition of 674-strong Hawthorn, the Community Pub Company from New River Retail for £222m.
However, this was the case until Fortress Investment Group acquired the Punch Pubs & Co portfolio late last year (December) for a reported £2bn.
The past 12 months also saw the sale of Youngs tenanted estate of 56 pubs to Punch for £53m in July last year.
In addition, RedCat Pub Company entered the sector and snapped up a number of pubs across the course of the year including the Coaching Inn Group for £60m.
The report stated RedCat was the most active buyer in the market, acquiring five pub portfolios during 2021 alongside several individual assets meaning the group acquiring about seven pubs per month, on average, since January 2021.
Red Oak Taverns, headed up by Mark Grunnell and Aaron Brown was also listed as one of the most active buyers of tenanted estates, alongside Punch and Admiral, acquiring three small portfolios from Hall & Woodhouse and Wells & Co.
Looking ahead, the report predicted while many businesses remained afloat after accessing financial support, ongoing challenges could cause this to shift.
Issues such as rising costs, labour shortages, the end of Government support such as the rent moratorium and VAT relief, alongside any potential restrictions being reimposed on the sector could lead to more opportunities coming to the market during this year.
Christie & Co’s regional offices reported freehold assets with letting rooms in popular rural and coastal tourist locations remain attractive, driven mainly by the staycation trend.
Venues with beer gardens and/or the opportunity to develop or increase letting rooms also remain in high demand.
This is predicted to continue in 2022 with the general view staycations and year-round al fresco dining are both here to stay, the report stated.