Time To Buy A Pub?

[Guest Barebear]

I know of no stipulation that says a pub has to be open a minimum of a certain number of days per week. etc

As a current licensee (restaurant) I can open and close (within permitted licensing hours) as I wish. I can close for a holiday for 363 days a year if I want to. I still would have to hold the requisite insurances etc and pay business rates.

It is those costs that would make it less economic than a house.

I too have owned a restaurant. But are'nt pubs different ? I thought they had to open unless there were extenuating circumstances.

[Guest Barebear]

Getting back off subject, I do wish they would update the porno films I do miss the storylines.

Like animal farm.

'' Have you w anked a horse ''

'' No '' replies school girl in her 30's with pigtails . '' mum says its wrong ''

How realistic can you get ? I bet lots of mums have voiced there opinions over that one to their daughters.

Edited August 23, 2009 by Barebear

[Hectors House]

I suggest you read all of this thread. Try all of the other one too:

http://www.housepricecrash.co.uk/forum/ind...t=0&start=0

You might find that the points that you raise have been covered in far greater detail and more accuracy than the contents of your post.

Then you might like to edit your post a bit so you don't look like a prat with a little bit of knowledge and a big opinion. Thanks for your time though. Glorious fourth post! Lots to read on this site. I suggest you read some of it.

Hey if you want to buy an pub that's up to you. Just your chattering class ethics might mislead some poor idiot into thinking they can actually make money from such nonsense. As for some dreary pub past it self by date making a good home, let it go the be redeveloped into new build flats.

[kingsgate]

With her bi-sexual friend and a very bad script accompanied by weird music.

I think I saw that movie as well.....!

[Hip to be bear]

Hey if you want to buy an pub that's up to you. Just your chattering class ethics might mislead some poor idiot into thinking they can actually make money from such nonsense. As for some dreary pub past it self by date making a good home, let it go the be redeveloped into new build flats.

Blimey Hector!!!!!

Do you really think some poor idiot (your description of the other users of this forum) is really going to go out and buy a pub just because I have started a couple of threads on here saying that I am contemplating it.

I refer you to the text in my original post on the previous thread in which I point out that I am not advocating that all HPCers should go out and buy a pub and that although I am thinking about it, I have some experience in the industry:

Part of the other OP.

Punch paid £360k for it and rented it out for £36k to a sucker who went bust. Someone else took it on and has basically handed back thekeys, thoough I think they are still in there and trading on a month by month basis. It has been a basic boozer, and is failing as that, but if it has the potential as a food led operation, then it might be worth the punt.

I am not advocating that everyone on HPC becomes a publican right now. My plan would be to put in a decent kitchen, get it up and running as a foody pub (which Is my background). Sell the business on a new lease in 6-12 months time, and sit back and enjoy the rental income.

The purchaser of the lease would be delighted with a free of tie lease (no need to buy from the brewery at over inflated prices) and I would not ask a massive rent, so that they could prosper, make a profit and pay me a fair rent. SIMPLES!

THe sums on the back of a fag packet:

Purchase price: £195,000

Refurb: £60,000

Total: £255,000

You will note that I also suggest it might have a future as a food pub, which is how it could be viable.

In this thread I have laid out various options:

Running it yourself. Renting it out as a pub. Doing it up and living in it (subject to planning consents). Developing it.

I have discussed the ups and downs of the local market.

I have pointed out that 52 pubs a week are closing.

I have pointed out some of the drawbacks of the property in question.

If you think that I have so much influence over people on this site....thanks for the backhanded compliment, but you are very wrong. If you think on the other hand that the users of this site are such mindless idiots that they are going to go out and buy a pub just because the read some guy was contemplating it on an internet forum without researching it themselves, then you are (a.) insulting their intelligence, (b.) showing your lack of knowledge of the hard nosed and cynical types who frequent these boards and (c.). making yourself look like a prat again.

With regard to someone making money out of this "nonsense"...I spoke to the boss of a company that specialises in finance for such deals. She knows of several astute operators doing just this at the moment. I read this week in restaurant magazine of a succesful gastro pub company in London buying the freehold of their 4 pubs from Enterprise pubco......They obviously see it as a smart move.

Here's a pub for you being sold by Scottish and Newcastle.: (first one)

http://www.fleurets.com/snpe/results-investment.asp

...currently rented out on a 5 year tenancy. Rent £26,000k p/a. Price of the freehold £155k. Annual yield 16.7% Sounds like a good return. Is it too good to be true? Worth investigating!

Your arrogant dismissal of "this nonsense" is simply pathetic. If you have some real knowledge, insight or professional expertise in this arena then please share it with us. Welcome to the forum!

Edited August 23, 2009 by Hip to be bear

[Hip to be bear]

To all, sorry about the two threads, i asked the mods for a merge but no joy.....MODS???