Buying a pub to live in.

mose_2

I have seen a pub that is for sale and very cheap, my question is would i have to run the place or could i just shut it down and turn it into a house. it also has a two bed flat above it. if i could live in it it would be a big place for little money.

Doozergirl

If it already has residential accommodation, then you should be able to turn the whole thing into a house but you will still need planning permission.

Call the planning department at the local council and check the lie of the land.

ManAtHome

Is it for sale, or just the lease for sale?

There have been a number of "pub becomes house" stories in the news - apparently you run it for a while like Fawlty Towers, then go through the planning process to get it re-zoned (or whatever) as residential. As long as you don't have a local "keep our pub open" action group...

vansboy

Seen a couple of these, too, as we looked for houses - but all were closed down & not trading for a while.

Often wonder if you'd ever get rid of the years n years of stale beer n fag smells!!

VB

Reaper

There have been a few stories where pubs have not been allowed to turn residential. I can't find the best story (the owners were made to open up their living room to the public after changing to residential without permission) so this one will have to do for now.

Be sure to check it out before parting with your cash.

PasturesNew

Locals will probably hate you too - for closing their pub.
Not the best way to endear yourself to the new neighbours.

Also - sometimes the reason they seem cheap is all you are buying is a leasehold. And you have to pay the brewery £1000/week or more to run it.

mose_2

http://search.issl.co.uk/detailsLite.aspx?Reference=MOS00R4&chainid=0779#
here is the link to the pub, its just a thought really just happened to come across it and thought it would be cheap.

worrypants

almost sure that will be leasehold at that price

I owned a freehold pub until recently but was very relieved to sell it

If you did buy a pub you would still have to pay buisness rates aswell as council tax and business insurance and loads of other expeneses until you got permission to turn it residentail and thats a minefield in it self
good luck in your quest

withabix

There are two possibilities with that property:

1) The price should actually say £950,000.

£95,000 would get you a small flat there.

2) It's for a lease of a few years.

It's fairly clear that you wouldn't get permission to turn that pub into a house anyway, from the description!!

PasturesNew

Yes. That pub is not for sale at £95,000
£95,000 buys you to lease to run it for a set number of years - and you'd be paying thousands per month to the brewery.

It is a business.

This is how businesses are priced/sold.

The current lease owner (landlord) is selling his business. So you are paying for the business he's built up and the value of that as an income potential. The lease is most likely directly with the brewery. So then you'd also have to pay rent to them. Brewery rents are high.

ashm1

PasturesNew wrote: »

Yes. That pub is not for sale at £95,000
£95,000 buys you to lease to run it for a set number of years - and you'd be paying thousands per month to the brewery.

It is a business.

This is how businesses are priced/sold.

The current lease owner (landlord) is selling his business. So you are paying for the business he's built up and the value of that as an income potential. The lease is most likely directly with the brewery. So then you'd also have to pay rent to them. Brewery rents are high.

Looks a bit different inside compared to the pubs where I live!

There seems to be a pool table in the restaurant area and they have a carpet!