Renting a pub?

diggerman123

dazco , i stand corrected , after discussing it with missus she said she also had to get a premises licence (it was a good few years ago , just as the law changed ) so i apologise wholeheartedly to you.
our pub was freehold so we had no ties.
some friends of ours had a lease on a pub with punch taverns and they paid £800 per week , they did fine till smoking ban came in , taking £6000 pw over the bar. after smoking ban it dropped to less than £2000 pw, but the rent stayed the same and couldnt be negotiated down. the pub is now boarded up and my friends live in near poverty being chased for money by everyone and sundry.
the pub game is not as it used to be.
when we had our pub (which thank god we sold ) customers used to think that every penny that went in the till was ours and couldnt understand that we had bills to pay and stock to buy lol

dazco

diggerman123 wrote: »

dazco , i stand corrected , after discussing it with missus she said she also had to get a premises licence (it was a good few years ago , just as the law changed ) so i apologise wholeheartedly to you.
our pub was freehold so we had no ties.
some friends of ours had a lease on a pub with punch taverns and they paid £800 per week , they did fine till smoking ban came in , taking £6000 pw over the bar. after smoking ban it dropped to less than £2000 pw, but the rent stayed the same and couldnt be negotiated down. the pub is now boarded up and my friends live in near poverty being chased for money by everyone and sundry.
the pub game is not as it used to be.
when we had our pub (which thank god we sold ) customers used to think that every penny that went in the till was ours and couldnt understand that we had bills to pay and stock to buy lol

Thanks Diggerman, it takes a big man to stand up and say he was wrong :T

A lot of people got caught at a very bad time for pubs, the worst thing was the Pubco's did absolutely nothing to help anyone. But they are suffering now in a downward spiral created by themselves.

They have borrowed money, to make their evil schemes work, and used their existing properties as collateral.

However (deep breath), because they have reduced the desire to run a pub to lower than zero their properties have plummeted in value. Because their value plummeted they no longer have any collateral in the bricks and mortar, the loan companies are wanting their money back forcing the Pubco's (I am mainly referring Enterprise inns) to sell their pubs. This has caused a glut in the market forcing prices, to buy a pub, to unprecedented low levels.

I have seen a pub for sale for as low as £65,000 :eek:

dazco

http://www.sidneyphillips.co.uk/auctions.php

Here are some of the cheapest pubs you are ever likely to see