The Agents

Tim Martin

Sales associate

Fleurets

I am often asked by potential vendors for advice on the best time to put a pub on the market. The answer can often depend on the nature of the business and the extent to which the trade could be described as seasonal.

For instance, if your business is traditionally busier in

summer, you are more likely to generate serious interest in spring or early summer than in autumn or winter when a

potential purchaser will be aware that they could be

struggling for trade in the early part of their ownership.

This coming year, purchasers and vendors are likely to continue to be concerned with the effect the smoking ban has had on the trade.

Certainly it still appears that some purchasers are taking a more cautious approach, especially towards properties

lacking smoking facilities. It could be that the concerns

relating to this issue start to abate later in the year once there has been more reliable evidence of the extent of the ban's impact, if any.

The other topic that will engage those participants in the market will be the much-discussed "credit crunch". Whether or not the current caution the banks are employing is

indicative of a long-term trend or is perhaps more of a short- term correction remains to be seen. As such, it is still too early to comment on whether this is likely to have any effect on the market.

Furthermore, the planned changes to capital gains tax, which are due to come in to effect in April, are sure to affect many vendors this year - but as with any tax question, the advice is always to speak to your accountant. It has been reported that the Federation of Small Businesses is

campaigning for a Government U-turn on this issue but it could be that some licensees decide to try and get a deal through before the abolition of taper relief comes into force.

Traditionally, the busiest period of the year for completions has been spring time.

The market picks up in the new year, with more activity from purchasers coming to the market, energised by the prospect of a new start, and vendors, who having taken

advantage of the busy Christmas period are now keen to sell.

Vendors with their properties on the market in the early part of the year are more likely to benefit from this increase in activity.