Regional focus on...Greater London
Population (and density): 8,778,500 (14,490 per square mile)
Boroughs: (inner London boroughs) Camden, Greenwich, Hackney, Hammersmith and Fulham, Islington, Royal Borough of Kensington and Chelsea, Lambeth, Lewisham, Southwark, Tower Hamlets, Wandsworth, Westminster (outer London boroughs) Barking and Dagenham, Barne, Bexley, Brent, Bromley, Croydon, Ealing, Enfield, Haringey, Harrow, Havering, Hillingdon, Hounslow, Kingston upon Thames, Merton, Newham, Redbridge, Richmond upon Thames, Sutton, Waltham Forest.
What the experts say: "Change is the natural state of London and is a key attraction of the city. Rising house prices in inner London and Crossrail mean people are turning to outer boroughs for more affordable places to live. Along the River Thames there are several regeneration projects with potential new sites for pub operators.
“Socialising is second nature to Londoners. The choice of venues is vast and competition is fierce. However, in the face of chef shortages and increasing payroll costs, for current and would-be operators in the pub sector, wet-led sites are often the most attractive venues to run.
“Londoners want flexibility, an informal atmosphere, speedy service and new experiences when going out. Therefore, just as change is natural to the city, pubs need to innovate their offer to give customers something different. Wet-led pubs are naturally geared up to do so.
“The best wet-led operators offer customers local, new and exciting spirits and craft beers. They also meet new tastes and trends hosting food pop-ups and street food stalls, from healthy vegan to American-style barbecue. Their offers are inclusive to all, but regularly changing, so customers always have a reason to come back.” - Rupert Clark, managing director at the City Pub Group
Done deals
Royal Oak, Kinnersley, Worcestershire
Asking Price: £25,000, new 10-year private free-of-tie leasehold
Rent: £20,000
Landlord: Private
Agent: Guy Simmonds 01332 865112
This beautiful village inn and restaurant with letting rooms, off the A38 between Tewkesbury and Worcester, benefits from a lounge bar (circa 30 covers), conservatory-style restaurant (45c), snug area (12c) and a patio terrace area (20c) along with four en-suite letting bedrooms. It has a full commercial kitchen, three-bedroom living accommodation, ground-floor cellar and a car park.
Horse & Jockey, Gainsborough, Lincolnshire
Price: £250,000
Tenure: Freehold
Turnover (annual): £325,312
Wet:dry split: 95:5
Agent: Davey Co 0333 200 8788
This town-centre freehouse is prominently sited in a thriving market town. It has an open-plan lounge bar with two fireplaces, a bar servery and access to the restaurant with seating for an additional 30 covers. There are five refurbished letting bedrooms and extensive four-bedroom owner’s accommodation. Net sales are £325,000 (exc VAT) with an adjusted net profit of £130,000. There is huge potential to develop a great food trade.
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