The agent
Stephen Taylor, MD, Guy Simmonds
Legislation, legislation, legislation! You really can't escape it.
From April 2008, commercial property offered for sale or rent, including public houses with a floor area greater than 10,000m sq must have and display a commercial Energy Performance Certificate (EPC).
Thankfully, not many proprietor-owned pubs fall into this size category. However, with effect from October 2008, the requirement will relate to all commercial property.
This provides another potential worry for those contemplating selling their freehold or leasehold licensed business.
At my agency we already provide our selling clients with a totally unique Seller's Pack, which speeds the sales process and maximises the sale price achieved.
In readiness for the EPC legislation we have already negotiated preferential terms with our specialist national firm of chartered environmental surveyors which will provide the required survey and certificate as part of our total sales service.
Undoubtedly, the USA is in recession, and the total effect of its banking fiasco has yet to be determined.
Only a total fool could deny this — although George W does seems to fit that description!
The UK economy is certainly in a downturn and we are seeing a noticeably more cautious attitude by banks. But sales at Guy Simmonds are still extremely buoyant, with this first quarter seeing a record level of completions of sales to both private and corporate purchasers.
We do this by ensuring that licensed businesses are valued correctly in relation to achieved turnover and profits.
No-one should doubt the existence of ready purchasers. Many of our buyers are first-timers, often entering the trade as a result of redundancy or wishing to control their destiny rather than work for corporate interests.
We should not underestimate the trauma associated with redundancy, but the levels of impending redundancies will deliver a wave of future purchasers of licensed businesses.
This is very visible to us as a result of the number of graduates from our own unique training programmes which prepare purchasers for their first licensed-trade venture.
Adopting a realistic approach to valuations and price expectations, combined with a totally professional, focused endeavour by your selling agent is highly likely to result in a successful outcome.
