Demand for bottom-end pubs remains strong
Demand for bottom-end freehold pubs continues to be strong despite the pressures facing the sector, according to property agent Christie & Co.
Christie's has just completed the sale of two such pubs in Edinburgh which had been closed for three years and one of which sold within a week of being placed on the market.
The 40-seat Dizzies pub located off Leith Walk in Edinburgh had an asking price of £100,000 and attracted interest from two operators.
The 70-seat Learig pub, located in the Resalrig area of Edinburgh had an asking price of £195,000 and a sale was agreed three days after it was put on the market.
Ken Sims, director at Christie & Co said: "Freehold pubs continue to generate strong demand, despite tough conditions currently surrounding the sector."
"With values at lower levels than previously witnessed 18 months ago, now is the perfect time for buyers to acquire such sites, especially those who are taking a long-term view on the market," he added.
Four small businesses snap up 10 Punch pubs >>
Light at the end of the tunnel for pubs? >>
Grand Union pubs hands out "free money" for customers >>
By Emma White
E-mail your comments to Emma White here.
Caterersearch.com jobs
Looking for a new job? Find your next pub job here with Caterersearch.com jobs
|
