Pubs are holding their value better than other types of hospitality property because of their potential for alternative uses.
According to London-based property specialists Paramount Investments, which has sold 192 pubs in the past 12 months, the potential of a pub to be to be used for residential or commercial property is keeping prices firm despite the general dip in property values.
Mark Greig, managing director at Paramount Investments, said: "Pubs don't have to stay as pubs when they are sold - they can be sold to shopkeepers, restaurateurs, office owners, residential buyers, as letting opportunities and even for overall site redevelopment. There are many different ways to add value to the bricks and mortar."
Greig warned that pub property prices were not going to rise again this year and individuals and pub companies should increase their efforts to sell empty properties to ensure the best price.
However he advised those looking to buy pubs to strike now as it was a good time to make an investment, compared to buying at the height of the market over a year ago.
By Christopher Walton
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