Property Law

Last orders: the number of pubs vanishing has increased by half (50%) over the past 12 weeks, according to Altus Group (image: Getty/dmbaker)

50 pubs vanish per month

By Amelie Maurice-Jones

Some 50 pubs a month are now disappearing from communities across England and Wales, real estate adviser Altus Group has warned today (Monday 10 October).

Exciting times ahead: New sites planned from BOXPARK and Alcotraz

PROPERTY ROUND-UP

BOXPARK and Alcotraz set to open new sites

By Amelie Maurice-Jones

BOXPARK is set to launch its sixth site next year, with Alcotraz' planning its biggest penitentiary yet, as Barrio Familia launches a new venue today.

Thinking out loud: Ed Sheeran recognises the importance of music venues such as pubs (credit: Dan Martensen)

Ed Sheeran backs MVT plan to save music pubs

By Gary Lloyd

Music star Ed Sheeran is backing a campaign from Music Venue Trust (MVT) to take control of the freeholds of music venues, such as pubs, that put on live music to save them from closure.

Mixed future: while it is anticipated the sector is expected to gain £8bn of lost value from the pandemic, further growth is being threatened by current challenges (image: Getty/PM Images)

6 pubs expected to close every week

By Nikkie Thatcher

This year, it has been predicted the pub and bar market will see the net closure of six pubs each week – an outlet decline rate of 0.7%.

Soaring costs: Altus Group has predicted business rates will increase by more than £2bn if they are based on the inflation rate of August (image: Getty/Eoneren)

Inflation signals £2.66bn business rates hike

By Nikkie Thatcher

Should last month (August)’s inflation rate be repeated in September, business rates will soar by more than £2bn next year without Government intervention, experts have claimed.

Shuttered venues: the rate at which pubs closed in the first six months of 2022 is near on double that of the last half of 2021 (image: Getty/Philip Openshaw)

Long-term pub closures double

By Nikkie Thatcher

The number of pubs that have closed due to business failure or have an uncertain future has doubled in the first half of 2022 against the last six months of last year, according to new figures.

Looking ahead: CGA director for hospitality operators and food EMEA Karl Chessell predicted further churn of opening and closures over the second half of the year (image: Getty/shank_ali)

Almost 1,000 closures in second quarter of 2022

By Nikkie Thatcher

While there were nearly 1,000 closures of licensed premises over the second quarter of this year, almost the same number opened as other businesses took their place.

Strong return: As trading has picked up, economic headwinds could create more activity on the pub property market (credit: Getty/sturti)

Pub property market to ‘ramp up’ this year

By Gary Lloyd

The pub property market is set to “ramp up” during the second half of 2022 with sales of sites expected to come from Stonegate, Marston’s and Amber Taverns, according to a new report from Christie & Co.

Openings and revamps: A big week for Revs with two new sites openings and one site revamp, as others launch sites and makeover others

PROPERTY ROUND-UP

Revolution opens bars and revamps more, police station turns into pub

By Amelie Maurice-Jones

Revolution has opened new sites in Exeter and Preston and as well as pumping £200k into its Wilmslow site, the Inn Collection Group has turned a police station into a pub and Red Oak Taverns has renovated its Blunham venue.

Christie & Co: A promising start to the year for the home counties pub market

Strong start to 2022 for home counties pub market

By Amelie Maurice-Jones

The year has kicked off to a strong start for the country pub market across the home counties, with business property adviser Christie & Co’s hospitality team completing on six individual pub sales across the region during March alone.

Number crunching: nightclubs saw the biggest change in site numbers across the hospitality sector with a fall of 9.8% from March 2021 to March 2022 (image: Getty/ilbusca)

Pandemic cost licensed sector 9,200 venues

By Nikkie Thatcher

The number of licensed premises has fallen by more than 9,000 now compared to the start of the coronavirus pandemic, figures have revealed.

Positive property news: Seafood Pubco opens Hertfordshire venue after renovation

Seafood PubCo venue opens after £1.2m refurb

By Amelie Maurice-Jones

Seafood PubCo (SPC) has opened a new southern flagship pub the Grand Junction Arms in Tring, Hertfordshire, after a £1.2m renovation, celebrating the year anniversary of its partnership with The Oakman Group.

Onwards and upwards: pubs are back on the expansion trail says Peter Hansen of Sapient Corporate Finance

MA Leaders Club

Further lockdowns unlikely because Government ‘cannot afford it’

By Gary Lloyd

The possibility of further lockdowns is over according to Peter Hansen of Sapient Corporate Finance because the Government “cannot afford it”, he said while speaking at the MA Leaders Club conference at Fabric nightclub, in London, on Thursday 24 February.

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Friars Gate, WarringtonLocated in the Heart of the Town Centre Nightclub Circuit6AM Licence on Friday & SaturdayClose Proximity to UniversitySeparate Floors AvailablePotential to Split Subject...

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