The agent

Bill Colquhoun, director, Christie+Co Ipswich

Despite daily reports of doom and gloom in the economy, the Ipswich office of Christie+Co is pleased to report that freehold and leasehold pubs continue to sell throughout East Anglia .

Clearly market conditions are more challenging than in 2007, so it is unrealistic to predict similar price rises to those recorded last year, when the Christie+Co price index reflected growth of 6.5% in pub values.

Nevertheless, there remains ongoing demand from prospective buyers for sensibly priced pubs.

While the residential market has suffered a downturn in fortunes driven by contributory factors, the pub market has not stagnated to the same extent. Fewer novice business operators are entering our markets, and as a result we believe that the market for the sale of businesses will remain less susceptible to fluctuations in the residential market.

In East Anglia, pubs are currently being purchased by a very wide spectrum of different buyers, including experienced licensees, private buyers, corporate operators and investment companies, while sellers range from pub companies to private individuals to private investors. Although the current crisis in the financial markets may cause a dip in consumer spending, deal activity has continued to be robust.

In the current challenging market, adopting the right approach in terms of pricing and effective marketing can be the difference between achieving a successful sale or failing to attract a buyer.

Realistic pricing is critical together with assistance from an agent capable of overcoming any obstacles encountered both before and after a sale is achieved.

The more challenging sites to sell are those which are over-priced, those where no trading information is available,

or those which may offer limited prospects for growth, although such pubs could offer higher value for alternative use.

The message is that pubs from the cheapest leasehold to the most expensive freehold will always attract interest, if sensibly priced, regardless of whether it's a bull or bear market. There is a market for everything —

if the price is right.