Still a good time to sell, licensees told

Licensees thinking of selling up have been told that "now is as good a time as any to achieve a competitive price".

Graham Allman, managing director of agents GA Select, said the market remained healthy despite the "doom and gloom merchants".

"This year has been very good and exceeded all expectations with an outstanding number of individual sales completed," he said.

For publicans looking to sell, he said: "If the pub is well presented and you have up-to-date accounts, there is no reason why you shouldn't get a competitive price. Your accounts don't necessarily have to show a rip-roaring profit, because the buyer can make their own mind up about the potential there."

He also advised licensees who were thinking of selling their pub in the New Year to think about organising their accounts and an agent as soon as possible so the pub is ready to go on the market.

Allman said he had noticed the major pubcos were also focussing on acquiring more high quality food-led establishments, as oppose to traditional wet-led pubs. Andrew Downey of agents RTA said freeholds and free-of-tie leases remained extremely desirable. He added: "We remain confident that the licensed market will flourish as the end of 2007 approaches, and into the New Year."

Rachael Peacock, managing director of the Bar Agency, agreed there was a shortage of quality freeholds. "People are crying out for them. It seems to the pubcos are prepared to what would have been well over the odds a few years ago."