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This Cheered Me Up.

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I sold my freehold pub in 2004, like most publicans it was also my home. I sold it because after 10 years of hard work I was mortgage free, and felt I could semi-retire if the estate agents valuation was correct, however I thought that anybody paying the asking price would have to work very hard to make ends meet. Luckily for me it soon sold at full asking price. The people that bought it struggled, but were lucky enough to offload it at a price just above what they paid. The now new owners went to town on a refurbishment, as well as buying another pub. The pressure of running two proved too much so they closed down my old pub and have been trying to sell it for about a year.

Looking on the net the other day my wife said look at this, my old pub was now being marketed at 45K less than I sold it for in 2004.

I know it's the commercial market, but I hope this will help reassure those on here who are losing faith.

I'm not gloating, just very glad I got out when I did.

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I sold my freehold pub in 2004, like most publicans it was also my home. I sold it because after 10 years of hard work I was mortgage free, and felt I could semi-retire if the estate agents valuation was correct, however I thought that anybody paying the asking price would have to work very hard to make ends meet. Luckily for me it soon sold at full asking price. The people that bought it struggled, but were lucky enough to offload it at a price just above what they paid. The now new owners went to town on a refurbishment, as well as buying another pub. The pressure of running two proved too much so they closed down my old pub and have been trying to sell it for about a year.

Looking on the net the other day my wife said look at this, my old pub was now being marketed at 45K less than I sold it for in 2004.

I know it's the commercial market, but I hope this will help reassure those on here who are losing faith.

I'm not gloating, just very glad I got out when I did.

Maybe people used to factor in capital appreciation as a major part of the profits in 2004....today they look at what the business costs to buy, and what it costs to run then can see the figures don't add up to be a profitable business. ;)

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Are you tempted to make a cheeky offer to buy it back, given someone else has done a refurb...?

We have talked about it, as it would make a beautiful house, and we loved the area. However it would need to be de-licensed.

The irony is, all the money put into the refurb makes it more costly to turn it into a private dwelling.

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Maybe people used to factor in capital appreciation as a major part of the profits in 2004....today they look at what the business costs to buy, and what it costs to run then can see the figures don't add up to be a profitable business. ;)

That is something that seems to have applied to businesses both large and small. It's just that the larger ones seem to be being kept afloat even if they are losing money.

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  • 343 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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