Article DetailsPub Sales Increase as Developers buy up Unviable Local Pubs for Redevelopment |
| Date Added: April 23, 2009 11:36:04 AM |
| Author: Ian Brown |
| Category: Real Estate Press Releases |
| Paramount Investments predicts that it will sell up to 400 pubs over the next 12 months — double the amount it sold in the last year.The firm's rapidly increasing share of the market indicates the growing willingness of pub owners to sell unviable sites to developers.Paramount sells pubs quickly with no sales particulars and not necessarily as a going concern, making it an ideal vehicle for the disposal of closed or poorly performing sites. The news follows the London-based company's announcement that it sold 192 pubs last year from its single office in Hampstead. Paramount has only been involved in the pub market since 2005 and is the preferred seller for Admiral Taverns.Managing director Mark Greig said he was in talks with two major operators to facilitate the large-scale disposals of bottom-end sites.He said: "You just have to go with the flow, but there is a reluctance on the part of some vendors to sell pubs outside the trade. With the current demand for social housing, do we really want to keep healthworkers and firefighters off the property ladder when there are buildings boarded up that they could be living in?"Do we really want to prevent the local economy from growing by keeping buildings closed when they could be opening as new businesses?"We need to adopt a broader economic outlook if we are to reduce the numbers of boarded-up pubs." 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 |
