Regional focus on...Norfolk
Population (and density): 898,400 (430 per square mile)
Largest towns and cities: Norwich, King's Lynn, Great Yarmouth, Thetford, Gorleston-on-Sea, Dereham, Taverham, Wymondham, Downham Market, Attleborough, Diss, Caister-on-Sea, Hunstanton
What the experts say: "Like many other parts of the country over the past 12 months, we have seen great progress being made within Norfolk’s licensed and leisure scene.
“The market almost resembles pre-2008 levels, with a significant number of new entrants to the sector along with continued interest from existing and experienced multi-site operators who are looking to expand their portfolios.
“The burning question for most buyers seeking Norfolk locations for their business ventures is choosing between coast and county. Norfolk has many charming market towns and villages and one of the most appealing coastlines in the UK, not to mention the allure of the Norfolk Broads. Due to its proximity to the capital, the county has become a popular weekend escape for Londoners, with the Georgian chocolate-box settlements of Holt and Burnham Market proving especially popular. Norfolk’s coastline also attracts a large amount of wildlife enthusiasts, while towns such a Cromer and Hunstanton remain ever-popular summer holiday locations for families.
“The improving economic climate, along with banks starting to ever so slightly relinquish their grasp on the lending purse, has no doubt been a factor in the improvement, although it is far too early to suggest that the market has recovered to pre-2008 levels.” - Simon Jackaman, divisional director in Fleurets’ East Anglia office
Done Deals
Old Hunters Lodge, Whipsnade, Bedfordshire
Price: £1,485,000
Tenure: Freehold
Turnover (annual): c£585,000 (inc VAT)
Wet:dry split: 35:60 (5% letting)
Agent: Guy Simmonds 01332 865112
After being on the market for the first time in 23 years, this delightful 15th century traditional pub in affluent Whipsnade has been acquired by newcomer to the trade Tony Bishop. It has a traditional lounge bar, cosy snug, versatile dining room and multi-purpose restaurant and function room. The six letting bedrooms all have en-suites. There is also a large beer garden and ample parking.
The Chequers, Wickham Bishops, Witham, Essex
Price: £550,000
Tenure: Freehold
Turnover (annual): £378,437
Wet:dry split: 60:40
Agent: Davey Co 0333 200 8788
Located in a rapidly expanding commuter belt village, this pub has tremendous potential to develop its food offering. Comprising a lounge bar for 30+ customers, with open-plan access to another traditional-style bar area for 20-plus. It has a dedicated restaurant dining area comfortably providing around 30 covers. There is also a recently renovated outside courtyard trading area and a gravelled car park forecourt.
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