Ceri Edwards
Head of Public Relations
RTA Business Sales
Statistics are boring - right? So here are some boring statistics. At RTA, enquiries are up by 33% over the same period last year, viewings are up, instructions are up and we expect completions to follow suit.
The smoking ban in England and Wales has not resulted in a slow down of the market. Likewise, the recent rise in interest rates has not deterred those genuinely wishing to buy. So after all the doom and gloom merchants have had their say, why is the market still so buoyant?
Could it be because the pub market is now attracting a wider variety of buyers? There are the traditional career innkeepers, there are the food-led proprietors that are contributing to the phenomenal growth in this particular market sector, there are the established pub companies that are still interested in a good opportunity, and there are a growing number of smaller chain operators who are keen to add another outlet to their existing portfolio.
Also, let's not forget that many people are seeking a
change of career. As the kids get older and the daily commute into the city loses its appeal, a traditional country inn can provide a welcome change of lifestyle and a fresh challenge for a couple who may have honed their hospitality skills in another arena.
The increase may also be attributed to the fact that at RTA we have just invested over £250,000 in new call-centre technology to ensure that the highest possible number of people know about the opportunities we have available. Whatever the reason, business is good. If you intend to sell, and your business is priced realistically, and your agent markets it efficiently, you can look forward to a healthy number of enquiries.
If you intend to buy, there has never been such a variety of good quality opportunities available to you. Decide where you want to buy, decide what you want to buy, be realistic about your finances and move quickly, because others may spot the same opportunity. Good hunting!