EPCs: help offered
A property consultant has linked up with assessors to hand out Energy Performance Certificates (EPCs) and is offering its services to the major pubcos.
The consultant 2C Design said that in a commercial sector with 58,000 properties, and roughly 20% of them changing hands each year, more is needed to be done to prepare for the changes.
From October this year the EU's Energy Performance of Building Directive will require all pubs at the point of sale, construction or rent, to be issued with an EPC. Pub companies looking to quickly dispose of or acquire sites could be seriously hindered by the new rules as there is likely to be a shortage of qualified inspectors and a high demand for assesments.
The Government-backed Building Research Establishment and 2C Design will work together to bridge the gap between the newly qualified assessors and the leisure industry.
Chris Hewitt, commercial director of 2C Design, said: "This partnership will remove the headaches companies usually face when putting into practice new legislation. We have spent months training, understanding and agreeing processes, both with clients and assessors. It is an initiative that will help avoid a considerable amount of wasted energy."
EPCs are likely to cost £1,000 to £1,500 for individual pubs, which will be rated from A to G. The certificates will last for 10 years and include a list of recommendations to upgrade efficiency. At a sale, it will be the vendor's responsibility to ensure that the EPC is current. Inspectors will look closely at boilers and air conditioning. The results of the assessments could have a knock-on effect on property prices, premiums on assignment, dilapidation schedules and rent reviews.
The Kings Head
Merriott
Somerset
Price: £69,500
Tenure: Leasehold,
four years remaining
Landlord: Enterprise Inns
Turnover: £176,000
Rent: £21,789
Wet:dry split: 75:25
Agent: Guy Simmonds
01332 865112
This 17th-century property is sited in Merriott, near Crewkerne. It is described by the agent as being rural but only minutes from the A303. The pub comprises bar and dining areas, games room, new patio, garden, skittle alley and car park. Guy Simmonds said that trade has increased in the vendor's three-year tenure.
The Coachman Inn
Corby Glen
Lincolnshire
Price: £99,750
Tenure: Leasehold,
eight years remaining
Landlord: Privately owned, free-of-tie
Turnover: £305,000
Rent: £50,000
Wet:dry:accommodation split: 45:45:10
Agent: GA-Select
01530 414140
This pub is located close to the Rutland borders and is described by the agent as a magnificent coaching inn, capable of sales of around £10,000 per week. Trading areas include a snug bar seating 24 plus vertical drinkers, formal dining room with 50 covers, games room for 25 and five letting bedrooms.
The Forces Tavern
Blackawton
Devon
This South Hams pub has just sold off an asking price of £415,950 through south-west-based agent Cowling Commercial. The trading areas comprise a main bar, dining areas with a total of 30 covers, darts throw and upstairs alcoves. The agent said that the wet-led site was also suitable for a food-led operation. The freehold property includes owners' accommodation and three
en-suite letting bedrooms. The property is located on the A3122 road between Totnes and Dartmouth.
The Balance Inn
Luston
Herefordshire
Sidney Phillips has reported the sale of this pub located close to Ludlow and Leominster. The freehold site sold off an asking price of £525,000. It comprises of a two-section lounge bar, public bar, beamed restaurant, function room and four-bedroom owners' accommodation. Externally the site offers a lawned beer garden to the front and car park with room for 30 vehicles. Turnover was undisclosed at the pub but was split 40% wet sales to 60% food sales.
