There is no doubt that the last 18 months have been incredibly tough for pub owners and tenants across the UK, with the latest figures suggesting sales over the 12 months to September this year were 45% down on the same period in 2019. The industry’s struggles mean that more pub buying opportunities are coming on the market, and sound legal advice for both prospective buyers and sellers can be critical to the success of the purchase or sale of a pub.
Our business purchases and sales team offers a cost-effective and efficient fixed fee service for buying and selling pubs. We can advise pub buyers on whether a freehold, leasehold or tenanted pub purchase is the best option. We can also help both buyers and sellers negotiate lease terms, tenancy agreements, or the transfer documentation or contract for sale of the business in the case of a freehold purchase.
Checks and enquiries need to be made to establish the seller’s title to the pub, as well as any other interests or restrictions affecting the property and the legal viability of the business. It is essential for pub buyers to know as much about the finances of the business they are buying as possible, and an accountant with experience of licensed properties will need to examine audited accounts and related financial information to avoid any nasty surprises for the buyer down the line.
In June this year, James Edwards, a commercial property solicitor at Bartletts, received a five star review on Trustpilot for his handling of the sale of a public house. The client had used our commercial property legal services before, and commented on James’ ‘very efficient service’ which made for ‘an easy sale’. Our experience and expertise in this area means we serve prospective pub buyers and sellers nationwide. Give us a call for a free no obligation discussion.