THE AGENTS

Adam Wyn Griffiths

Director,

Humberstones

It's the beginning of September again, the summer seems to have passed us by this year, and children are returning to school. While this generally means a slowdown for the licensed trade, with money spent on kitting the kids out for school in new uniforms, shoes and sportswear, leaving less to be spent on drinks and meals out, it is the start of the busy season for those of us selling pubs.

Purchasers have had their minds on other things in the summer months, such as holidays and keeping the children amused during the school break. Pub-owners who are considering selling tend to leave it until after the summer rush before they call an agent to give them a valuation. Pubs on the market are also busier in the summer holidays and have less time to show potential buyers around. Hence, autumn is always a good time to start selling properties.

So what can we expect in the licensed property market over the next few months? Well, the summer has been a strange one this year with very poor weather generally (culminating in the awful floods that hit many parts of the country), interest rate hikes, the start of the smoking ban, and the recent stock market upsets. Although the demand for licensed premises has remained strong, all of these factors have had an effect on the market.

Viewings have been fewer because of the bad weather. Buyers had a "wait and see" approach to the smoking ban. Some were worried about the interest rate hikes, and others felt recession could be round the corner as a result of the stock market fluctuations. The floods themselves made buyers wary of properties in some areas.

It seems, however, that more settled, clement weather is bringing a more settled feeling to the market. The phones are jumping again, viewings are taking off and offers are coming in thick and fast.

So it looks like the autumn months ahead will be a very busy time for the licensed property market. I would strongly advise those pub-owners who are considering selling and have been holding back over the summer to get yourselves on the market now - with a fair wind, you'll be able to have your feet up this Christmas and sit on the other side of the bar for a change.