Regional Spotlight: Abergavenny

The town of Abergavenny in Monmouthshire has long been regarded as the gateway to South Wales and the Brecon Beacons National Park. And according to Colin Powell, a senior partner at licensed property agent Border Commercial, within a 10-mile radius of the town are some of the best pubs and eating-out venues in Wales, including the famous Walnut Tree restaurant.

Powell says the town is part of a Golden triangle for licensed property businesses which has Crickhowell and Monmouth, also on the A40, to the north and Chepstow to the south. In addition to the high number of "character" properties locally, it is a pleasant area to live and work in, he adds. And the excellent road links mean you're just a couple of hours from some key locations.

There is a particularly high level of demand for freehold pubs, says Powell, whether community boozers or food-led operations. And if you're looking for a food-led operation he says Abergavenny and the surrounding area is a good place to look because there are a lot of professionals with a high level of disposable income.

"Although prices are the highest I've seen in 18 years, the area, like Wales as a whole, still represents great value for money, which is why there's so much interest at the moment, especially from the major pub companies," Powell says.

But there are some barriers to entry. Apart from it being very competitive operationally, the main problem is that demand for licensed properties far exceeds supply. "And everything that goes on the market at sensible prices goes very quickly," he adds.