Article DetailsFreehold Pubs and Petrol Stations For Sale |
| Date Added: April 22, 2009 04:07:34 PM |
| Author: Ian Brown |
| Category: Real Estate Marketing |
| As many petrol stations and pubs fold in the unforgiving climate, canny retailers are snapping up their space for its convenience.When it comes to store acquisitions, there is one golden rule: location is key. This is particularly true for the convenience retail sector, where ease of access is so crucial.Nationwide, pubs and petrol stations are falling victim to the economic downturn and shutting up shop. Five pubs go out of business in the UK every day. The ability of the big supermarkets to undercut them with cheap booze and the latest bombshell – the smoking ban – have squeezed traditional landlords and big-chain operators alike.Paramount Investments is a London-based developer that specialises in buying and reselling former pubs for a mixture of end uses, and much of this space is snapped up by retailers. "The pub trade has changed drastically," says Paramount managing director Mark Greig. "Taxes on beer and other increases have put big pressure on pub operators. Around 20,000 pubs are expected to be sold out of the trade in the next couple of years."Another virtue of acquiring such premises is the benefits to be gleaned from the space itself.Greig says that pubs often appeal to retailers because there is a natural crossover in space requirements. As pubs are often around 4,000 sq ft (370 sq m) and have a floor-to-ceiling height of around 8 ft (2.4 m), the sales space is ideal. Furthermore, because pubs also need both basement space for heavy duty equipment and space for deliveries, retailers often find they have ready-made sites for storage. Butterworth adds that for food retailers in particular – which are used to having more to do in terms of restructuring a building – a site that already has some of their requirements in place, such as room for refrigerators, is a big plus.Another fundamental advantage of former pubs, and even more so of petrol stations, is that both usually include decent parking space. For retailers like Majestic Wines, this is a crucial requirement when considering new stores. Majestic trades out of five former pub sites and around a dozen former petrol stations.Traditional forecourts and pubs may be in decline. But one industry's downfall often presents another's opportunity.It won't work for everyone, but there are those businesses for which it offers good space in a good location at a good price. What more could a retailer want? Paramount Investments are specialists in sourcing freehold and leasehold pubs for sale and other pub company or brewery investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Investments 150 West End Lane Web: http://www.paramount-investments.co.uk |
