Property law

Good winter: Plenty of new openings and acquisitions in this week's property round-up

PROPERTY ROUND-UP

New Dawn, Browns, Wells & Co open sites

By Amelie Maurice-Jones

New sites have been opened by Wells & Co, New Dawn and Browns, and Red Oak Taverns and the Inn Collection Group have completed acquisitions.

Delightful pub: the Brewers Arms in West Malvern, Worcestershire (pictured) has been saved by the local community

‘Can do’ community raises £400k to save local pub

By Rebecca Weller

A team of volunteers, including a local vicar, have pledged to help run the Brewers Arms pub in West Malvern, Worcestershire, after raising more than £400,000 to save their local, with the pub reopening despite having no permanent tenant in place.

Top tips: Fleurets advise on how to get pubs ready for sale (Getty/ TonyBaggett)

How to prepare your pub for sale

By Amelie Maurice-Jones

The Morning Advertiser caught up with Fleurets director and head of agency on how operators can get their pubs ready for sale.

Flourishing estates: KFC opens pub, Fuller's acquires sites, JDW set sights on 2023 O2 venue

PROPERTY ROUND-UP

KFC launches pub, Fuller's acquires 2 sites

By Amelie Maurice-Jones

This week's property round-up reveals Punch has ploughed more than £800k into its estate, as Fuller's acquires sites and KFC launches as a pub. The Alchemist and JD Wetherspoon look to open new sites in 2023.

Save Our Simpsons: Manger aims for £385k target to reopen tavern (Getty/ Paul Campbell)

£65k raised to save historic chophouse

By Amelie Maurice-Jones

£65,060 has been raised to save a chophouse visited by Charles Dickens - the Simpsons Tavern in central London - after the landlord locked the doors in a dispute over rent.

Warning issued: non-domestic premises such as pubs could see a £25bn rise in business rates after the latest inflation figures, according to Altus Group (image: Getty/Natee Meepian)

£25bn business rates hike warning

By Nikkie Thatcher

Pubs are facing a £25bn rise in business rates over the next five years after today’s double digit headline rate of inflation was announced, according to experts.

Last orders: the number of pubs vanishing has increased by half (50%) over the past 12 weeks, according to Altus Group (image: Getty/dmbaker)

50 pubs vanish per month

By Amelie Maurice-Jones

Some 50 pubs a month are now disappearing from communities across England and Wales, real estate adviser Altus Group has warned today (Monday 10 October).

Exciting times ahead: New sites planned from BOXPARK and Alcotraz

PROPERTY ROUND-UP

BOXPARK and Alcotraz set to open new sites

By Amelie Maurice-Jones

BOXPARK is set to launch its sixth site next year, with Alcotraz' planning its biggest penitentiary yet, as Barrio Familia launches a new venue today.

Thinking out loud: Ed Sheeran recognises the importance of music venues such as pubs (credit: Dan Martensen)

Ed Sheeran backs MVT plan to save music pubs

By Gary Lloyd

Music star Ed Sheeran is backing a campaign from Music Venue Trust (MVT) to take control of the freeholds of music venues, such as pubs, that put on live music to save them from closure.

Mixed future: while it is anticipated the sector is expected to gain £8bn of lost value from the pandemic, further growth is being threatened by current challenges (image: Getty/PM Images)

6 pubs expected to close every week

By Nikkie Thatcher

This year, it has been predicted the pub and bar market will see the net closure of six pubs each week – an outlet decline rate of 0.7%.

Soaring costs: Altus Group has predicted business rates will increase by more than £2bn if they are based on the inflation rate of August (image: Getty/Eoneren)

Inflation signals £2.66bn business rates hike

By Nikkie Thatcher

Should last month (August)’s inflation rate be repeated in September, business rates will soar by more than £2bn next year without Government intervention, experts have claimed.

Shuttered venues: the rate at which pubs closed in the first six months of 2022 is near on double that of the last half of 2021 (image: Getty/Philip Openshaw)

Long-term pub closures double

By Nikkie Thatcher

The number of pubs that have closed due to business failure or have an uncertain future has doubled in the first half of 2022 against the last six months of last year, according to new figures.

Looking ahead: CGA director for hospitality operators and food EMEA Karl Chessell predicted further churn of opening and closures over the second half of the year (image: Getty/shank_ali)

Almost 1,000 closures in second quarter of 2022

By Nikkie Thatcher

While there were nearly 1,000 closures of licensed premises over the second quarter of this year, almost the same number opened as other businesses took their place.

Strong return: As trading has picked up, economic headwinds could create more activity on the pub property market (credit: Getty/sturti)

Pub property market to ‘ramp up’ this year

By Gary Lloyd

The pub property market is set to “ramp up” during the second half of 2022 with sales of sites expected to come from Stonegate, Marston’s and Amber Taverns, according to a new report from Christie & Co.

Openings and revamps: A big week for Revs with two new sites openings and one site revamp, as others launch sites and makeover others

PROPERTY ROUND-UP

Revolution opens bars and revamps more, police station turns into pub

By Amelie Maurice-Jones

Revolution has opened new sites in Exeter and Preston and as well as pumping £200k into its Wilmslow site, the Inn Collection Group has turned a police station into a pub and Red Oak Taverns has renovated its Blunham venue.

Christie & Co: A promising start to the year for the home counties pub market

Strong start to 2022 for home counties pub market

By Amelie Maurice-Jones

The year has kicked off to a strong start for the country pub market across the home counties, with business property adviser Christie & Co’s hospitality team completing on six individual pub sales across the region during March alone.

Number crunching: nightclubs saw the biggest change in site numbers across the hospitality sector with a fall of 9.8% from March 2021 to March 2022 (image: Getty/ilbusca)

Pandemic cost licensed sector 9,200 venues

By Nikkie Thatcher

The number of licensed premises has fallen by more than 9,000 now compared to the start of the coronavirus pandemic, figures have revealed.

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Property of the week

KENT - HIGH QUALITY FAMILY FRIENDLY PUB

£ 60,000 - Leasehold

Busy location on coastal main road Extensively renovated detached public house Five trade areas (100)  Sizeable refurbished 4-5 bedroom accommodation Newly created beer garden (125) Established and popular business...

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