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Preston pubs up for sale.. Ask An Expert: Viewing a Pub.. Paramount sells 192 pubs in a year.. Brighton pub for sale..
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Preston pubs up for sale
 It's closing time in the community. A pair of Preston pubs could be lost to the city forever, as the owners have put them on the market.
The Avenham Park in Avenham Lane and the Red Rose in St Paul's Square could now end up either converted into homes or put to some other new purpose.
This follows news last month that, on average, Preston loses 12 pubs a year.London-based property agent Paramount Investments said they expect the pubs to sell relatively quickly, but said it was unlikely they would go to licensees wanting to re-open the bars.
Managing director of the firm Mark Greig, said: "If no-one from the hospitality industry steps forward to buy these pubs, they could cease to be pubs at all."
He said the smoking ban and difficult trading conditions meant the whole of the licensing trade was under strain.
The Avenham Park closed its doors several years ago but its future was uncertain.Other community pubs in the area, including the neighbouring Frenchwood, have also closed. Coun Michael Lavalette, who represents the Town Centre ward, said the closures were a major contributing factor to the violence that takes place in the city centre at weekends.
He said: "I think there is a real social problem that develops from this."Go back 10 or 20 years and people would start the night in their local, maybe go into town for a few, then end up back in their local for last orders. They would drink in the same pub as their dad, their next door neighbours, and if people got a bit rowdy there was family and social pressure to calm it down."You close these community pubs and force people into the town centre, you get these large drinking dens, you ply people with drink, they come out, there's no buses or taxis and all hell breaks loose on Church Street."
New figures released by the British Beer and Pub Association (BBPA) today revealed the current pub closure rate is seven times faster than in 2006 and 14 times faster than in 2005.Lee Le Clerq, spokesman for the BBPA, said: "Closures at this rate are threatening an important hub of our social fabric and community history. "What we need to stop the decline is support from Government and the public."The Avenham Park is on the market at £175,000 and the Red Rose is up for sale at £199,000.
Ask An Expert: Viewing a Pub
Mark Greig identifies what you should look for in a new pub
I'm 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 encumbrances clauses which prevent you doing specified things. Some pubs are sold delicensed, 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.
Paramount sells 192 pubs in a year
Figures from London-based property agent Paramount Investments reveal that the firm sold almost 200 pubs in the past 12 months.
The company is Admiral Tavern's preferred seller and has sold 192 pubs from its single branch in West Hampstead through its team of six sales agents.
Paramount, which entered the pub market in 2005, sells sites without sales particulars and not necessarily as a going concern — although some sites are still trading at the point of exchange.
The lack of detailed information about sites means that deals can be made extremely quickly.
This method of "bricks and mortar" selling suits alternative-use deals and quick disposals of closed or poorly-performing units.
Managing director Mark Greig said that while the company always hopes pubs will continue to trade, the current climate means that some pubs will inevitably be lost.
He said: "We can't confirm how many have changed use because after deals have gone through it's out of our hands — but it's a significant proportion.
"The figures represent exceptional performance from a firm with just one office. I ascribe our success to a pro-active approach to selling, backed by a national database of potential buyers."
The firm is most active in the south selling 52 pubs in London and 34 in the south-east. It also has a strong presence in the north-west and the midlands, selling 43 and 37 respectively.
Brighton pub for sale
The price of a Brighton pub with a troubled history has been halved in a bid to attract a buyer.
The Toby Inn in Woodingdean, Brighton, has been closed for almost two years following a violent attack on customers by a gang armed with metal poles and baseball bats.
The owners have been trying to sell the pub in Cowley Drive for £400,000 but following fears its reputation may dissuade potential buyers, the price has been cut to £200,000.
If no buyer is found, the building could be converted into flats.
Mark Greig, managing director of Paramount Investments, the London property firm selling the pub, said: "The price has been cut because we appreciate the difficulties in the market and in regard to the history of this particular pub.
"We believe the price now represents an excellent bargain for the right kind of licensee."
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Admiral Taverns, put the pub on the market after it was closed by police.
The new price will buy a lease lasting until 2055 and there is a £350 a year rent.
Pub for sale in Tonbridge: £1.35m
Admiral Taverns is selling off a former Laurel Pub Company Hogshead site with planning permission for alternative use.
Paramount Investments is marketing the closed site, in Tonbridge, Kent, at a guide price of £1.35m.
Permission for 10 two-bedroom and four one-bedroom flats has been granted, but Paramount Investments managing director Mark Greig said the deal could also appeal to a pub entrepreneur.
He said: "It built up a good following, thanks to a late licence and a good music offer — the unit is fantastic value.
"The planning permissions already in place on the site may represent an attractive opportunity to developers, though our hope is it continues as a pub."
UK pub sales: 26 pubs for sale across the country
1/Albion Southwick Road, Sunderland SR5 2AA, Freehold, £200,000
2/Alpha Bar Swan Street, Merthyr Tydfil CF47 8EU, Freehold, £ 225,000
3/Anchor 7 Pepper Street, Whitchurch SY13 1BG ,Freehold,£325'000 (Delicensed)
4/Anchor Hotel The Strand, Ferndale, Rhondda CF43 4RS , Freehold,£175'000
5/Barley Mow Gower Street St Georges, Okengates, Telford TF2 9BG , Freehold,£250'000 (Delicensed)
6/Bay Horse, 11 Coldwell Street, Felling, Gateshad NE10 9HH , Freehold,£150'000
7/Brynmelyn Inn 33 Llangyfelach Street, Swansea SA1 2BQ , Freehold, £250'000
8/Colliery 1 Stanley Street, South Sheilds NE34 0BX,Freehold,£200'000
9/Crown Inn, Pyle Road, Pyle, Bridgend CF33 6PL , freehold, £325'000
10/George Borrow Hotel Oulton Road, Lowestoft NR32 3LL ,Freehold, £600'000
11/Greyhound, Commercial Street , Pontypool NP4 6JJ , Freehold, £250'000
12/Gray's Inn, 152 Gray Road, Sunderland SR2 8BJ, Freehold, £200'000
13/Leaking Boot ,Grimsby Road, Cleethorpes DN35 7ES, Freehold, £550,000
14/London & North Western, 71 Sterry Road, Gowerton, Swansea SA4 3BN Leasehold £200,000 lease expires 2066
15/Palatine Hotel, The Crescent, Morecambe,LA4 5BZ Freehold £275,000
16Plough Inn, 37 Church Street, Gainsborough,DN21 2JR Freehold 375,000
17/Queen Elizabeth, Elmley Castle, Pershore,WR10 3HS Freehold £325,000
18/Rose & Castle, 44 Bedwas Road, Caerphilly,CF83 3AS Freehold £175,000
19/Royal George Hotel, Heady Hill Road, Heywood,OL10 3JH Freehold £275,000
20/Spring Grove, Penistone Road, Kirkburton,HD8 0QP Freehold £300,000
21/Steampacket, River Road, Littlehampton,BN17 5BZ, Freehold £300,000
22/Two Brewers, Queens Road, Smethwick B67 6PA , Freehold, £ 550,000
23/Wine Vaults, 27 High Street,Church Stretton SY6 6BX Freehold, £ 225,000
24/Talbot Hotel, 421 Bradford Road, Batley WF17 5LN Freehold £200,000
25/Nags Head, 241 Camberwell Road, London SE5 0DP Freehold £450,000
26/Silver Horse, Goldings Local Centre, Northampton NN3 8XW Leasehold £100,000 lease expires 2078 g/r £13,500 pa
UK pub sales: latest licensed property sales
A number of new instructions, full property details and documentation are available
1/ New Fulbrook, West Bromwich Road, Walsall WS1 3HL
2/ Famous Firkin, 48 Porth Bean Road, Newquay TR7 3JB
3/ Wheatsheaf, 225 Brockhurst Road, Gosport Hampshire PO12 3AZ
4/ Aberdeen Hotel, 2 Victoria Road, Scarborough, YO11 1SD
5/ Princes Head, Falcon Rd, Battersea London SW11 2LR
Last pints are pulled at Sudbury's pubs of past
Clouds have been gathering over the pub trade for years.
The smoking ban, cheap booze available in supermarkets and changing fashions helped lead to an average 27 pubs closing every week in Britain last year.And Sudbury is no different. Just this year the Black Horse in East Street was put up for sale, The White Horse in North Street soon followed and the site of The Prince of Wales, in New Street, was earmarked for flats.
Nick and Anne Martin, landlords of the Whitehorse for the past 20 years decided to sell up this year. They said the introduction of "oversized" pubs, combined with the smoking ban, was driving them out of the business. Paramount Investments, which is selling The Black Horse on behalf of the owners, said the smoking ban, fears of a recession and last year's poor summer were all major factors. Mark Greig, managing director at Paramount pub sales, said: "If no-one steps forward to buy the Black Horse it could cease to be a pub at all.
"But the demise of the traditional boozer is not a modern phenomenon. One walk around the town takes in the sites of nearly a dozen former watering holes. Premises now housing Marks & Spencer, Chinese restaurants and Winch & Blatch are among those that were pubs now faded into history with new businesses in their places.Who can still remember drinking in The Spread Eagle, The Ship and Star or the Plough?
Based on the current rate of closures – released by the British Beer and Pub Association – the last pub in Britain will close in a little over 40 years.
more from the Suffolk Free Press
Pubs for sale: Redevelopment potential subject to planning permission
Statistics from the Council of Mortgage Lenders confirm that buy-to-let investors are starting to struggle. The number who were behind on their mortgage payments by three months or more increased by 25% in the fourth quarter of last year, and repossessions rose by 26%. According to Moneyfacts, the number of available buy-to-let mortgages stood at 3,362 last August but had plummeted to just 926 by the start of April. So if you want a buy-to-let mortgage today, you would have 73% fewer deals to choose from.
Iit is worth remembering that buy-to-let properties should be viewed as long term investments, whose benefits will be felt over a period of at least 5-10 years. So where are these 926 brave property investors looking for returns in the future? Mark Greig, head of the Paramount investment property team, suggests that ‘Professional property investors who can make rapid buying decisions and proceed quickly are being attracted to the ‘distressed pub market’. Paramount Investments are specialsists in sourcing Pubs for Sale, Freehold Pubs for Sale, Leasehold Pubs for Sale and other Pub Company or Brewery Investment Opportunities in England, Scotland and Wales for potential property investors.
‘The state of the economy has hit the pub trade hard, says Mark Greig: "The pub trade is going through troubled times thanks to last year's poor summer, the smoking ban and fears of a recession. The big breweries know the value of the properties. “Many of them have decided that it is more profitable to sell them off to property developers for housing than run them as a pub.” ‘We advise national pub companies on property acquisitions, disposals, estate management work and associated commercial issues. The market is very active in the sale of trading or closed pubs for re-development conditional upon planning and licensing. Pubs in the North West and North of England and Wales have been particularly affected,’ he continued. ‘We are slashing prices on “dozens” of pubs which is good news for entrepreneurs who can see the potential in these empty pub sites for redevelopment” Recent figures from the Greater London Authority back this up revealing a massive increase in the number of fresh applications for planning permission for new homes on existing non-residential sites such as pubs, bars, clubs and hotels. More than 130,000 planning applications were lodged last year and conversion work has already begun on 85,000 sites. The figures for the previous year were 90,000 and 40,000.
'But finding the perfect pub for development doesn't happen by chance. The ability to determine your investment needs, identify problem areas and ask the right questions will help you make the right property investment choice before you proceed with any agreement' Mark says. 'Today we have had 8 new pubs that have never before on the market before. They all have their own redevelopment angle with out buildings and car parking space. One comes with an acre of land'. We have also seen a rise in the number of pubs being purchased by people wishing to occupy them as their main home and residence. Buyers have found in a number of instances it is cheaper for them to buy a pub rather than a similar size house in the same road. In other instances we have found self employed buyers, buying pubs to live in and occupy the upstairs and continue the running of their business from the ground floor, as it is possible to use the ground (A4) for
other uses such as restaurant (A3), office/estate agency (A2) or retail (A1) without the need for any lengthy planning applications.
Pubs for Sale: Investment or Development
Having successfully exchanged on over 20 pubs within the last month we detail below our latest Hot list of 8 public houses for sale with full vacant possession.
As a property investment, we think that these pubs present excellent value. Many of these properties are freehold and occupy prime locations with spacious yards, gardens and out buildings and offer excellent change of use and property re-development opportunities, subject to planning permission. Please note that the prices quoted are subject to VAT and we have been instructed to consider all offers.
Please visit our UK pub sales database to view the complete report on each property which includes the Schedule of Accommodation, Title Plan, Lease, Tenancy Agreements, Contracts of Sale, Schedules of Tenancy, Projections, Appraisals, Floor Plans, Local Authority Searches, Soil Surveys, Structural Reports, Title Deeds, Planning Documentation as well as professional photographs and maps.
PUB FOR SALE IN SOUTHWARK, LONDON SE1 – GUIDE PRICE - £2.25M – Freehold site for sale close to London Bridge Station (mainline, Jubilee and Northern line tube trains). The popular attractions of Borough Market and the Tate Modern are both within 2 minutes of the site. A derelict building for sale ‘subject to’ planning consent being granted for the retention of the façade and development behind it to provide a restaurant and 8 flats. Just over 8,000 sq.ft to build over basement, ground and 4.5 upper floors.
PUB FOR SALE IN GREENWICH, LONDON SE10 – GUIDE PRICE - £2.5M – Situated on Greenwich High Road close to Deptford Bridge and Greenwich Underground (& DLR!) Stations and local shopping facilities this former petrol station has full planning consent (subject to a s106 agreement) for the erection of a 5-storey block comprising 14 flats (12x2-beds and 2x3-beds - all with balconies) and 1 retail unit (of approx 1,458 sq.ft) with 14 car parking spaces.
PUB FOR SALE IN BELSIZE PARK, LONDON NW3 – GUIDE PRICE - £3.25M - A unique chance to acquire a stylish development opportunity in this prestigious NW3 location. The development is located off Haverstock Hill a short walk from the shopping and transport facilties of Belsize Park. Planning permission has been granted to refurbish this property into 4 stunning, individual self-contained luxury apartments / maisonettes. In addition to the above planning has also been passed for the construction of a three storey coach house. All the units have the benefit of their own private gardens or roof terraces and balconies. There is also the added benefit of off street parking for 2/3 cars.
PUB FOR SALE IN HACKNEY, LONDON E9 – GUIDE PRICE - £2.5M – Just off Homerton High Street and Clapton Rd this site is situated in a quiet cul de sac in the heart of the conservation district. Hackney Central and Bethnal Green Stations are the nearest transport links. Planning permission in place to demolish the unmodernised building on site and construct a luxury gated residential development of 7 x 4-bedroom 3 storey townhouses with gardens and car parking.
PUB FOR SALE IN NORTHANTS, NN9 – GUIDE PRICE £750,000 – Stunning small market town location on the River Nene in Northamptonshire. Easily accessed off the A6 which connects with the M1 (northerly or to London) and M6. Wellingborough Station is within 4 miles with quick connections to London St Pancras and the rest of the country. Full planning consent is in place to redevelop the existing farm house and barns into 7 dwellings including 6x2-bedroom houses and 1x3 bedroom house. Including allocated parking and private gardens.
PUB FOR SALE IN BRAINTREE ESSEX – GUIDE PRICE £2M - Within immediate proximity of Braintree Mainline Station and the Town Centre this freehold site has full planning consent for either a residential or sheltered housing scheme. The sheltered housing scheme is for 47 apartments (38 x 1 beds & 10 x 2 beds + 2 guest units) and the residential scheme is for 35 apartments (16 x 1 beds & 19 x 2 beds including 9 affordable units). Both schemes have associated amenity space and car parking.
PUB FOR SALE IN MANSFIELD, NOTTS, NG20 – GUIDE PRICE £1.25M - Freehold site (just under 1 hectare) for sale on a ‘subject to planning’ basis. Proposed scheme is for the for the construction of 39 Houses (6 x 2 Beds & 33 x 3 Beds) in the popular residential suburb of Shirebrook. Within a short distance of local shopping facilities, the M1 (to the north & London) and Shirebrook Train Station with rail links across the country.
PUB FOR SALE IN HACKNEY, LONDON E8 – GUIDE PRICE £800,000 – Just off Mare Street this freehold site (currently commercial) overlooks London Fields and is adjacent to the Mainline Station and local amenities and facilities. For sale with full vacant possession and with potential for a substantial new build development scheme of GF office accommodation and 3 floors of residential uppers. Unconditional offers invited subject only to contract.
Pubs for sale with substantial price reductions
Pubs for sale with vacant possession and potential for redevelopment stpp.
Please note that a number of pubs have had substantial price reductions including; Beeley Wood (now £75,000!), Bird In Hand (now £250,000!), Britannia Inn (now £175,000!), Coach & Horses (now £75,000!), Crown & Sceptre (now £300,000!), Crown Inn (now £75,000!), Elm Tree (now £425,000!), Fox Inn (now £225,000!), Joiners Arms (now £150,000!), Kings Arms (now £75,000!), Labourers Union (now £200,000!), Lascelles Park (now £200,000!), Leeswood Arms (now £150,000!), Masons Lounge Bar (now £535,000!), Nottingham Arms (now £240,000!), Pickwick Arms (now £125,000!), Royal Crown (now £125,000!), Sun (Oldham)(now £150,000!), Sun (Hartlepool)(now £80,000!), White Lion (now £175,000!), Whitefriars (now £350,000!), Wisbech Arms (now £175,000!)….
Offers invited on all guide prices + VAT.
If you are considering buying a pub, Click here for more information on these and many more pubs for sale
Price of Preston pub is slashed
The sale price of a Preston pub has been slashed by 25% in a bid to attract to a buyer.London-based property agency
Paramount Investments decided to reduce the price of The Avenham Park, Avenham Lane, after it failed to be bought by property developers as expected.The price has been cut from £175,000 to £130,000.
Managing director Mark Greig said the new price is designed to secure The Avenham Park's future as a pub.He said: "We anticipate that trading conditions will improve as we move on towards the summer and the pub industry gets used to the smoking ban."
read more on pub sales and closures at the Lancashire Evening Post
Pub for sale Shirebrook
A POPULAR Shirebrook pub is looking for new owners this week after being put up for sale.
The New Drum, on Market Place, which has built up a strong following with its live music and late licence, is on the market for £500,000.
The price has been designed to attract entrepreneurs from the pub trade –– though it is thought residential developers may also take an interest.
Mark Greig, managing director of London property agency Paramount Investments, which is selling the pub, says the pub deserves a good future. "To pick up a site like this at such a price represents a terrific opportunity for the right kind of publican," he said.
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