As the smoking ban and the fall in drinking in pubs bite, the pub chains are selling pubs not required in the future. Many are situated in areas suitable for alternative uses, subject to planning approval.
Our commercial property lawyers have experience of acting for buyers intending to use pubs for alternative uses such as for development for housing, day nurseries, restaurants, meeting rooms and take-aways. Many pubs have large car parks and good access making them perfect for other uses, subject to planning consent being obtained.
Breweries often demand a ‘quick sale’ and we are used to their deadlines and need for proactive client advice.
Finances must be in place and the VAT situation must be advised both on the price and on the stamp duty and whether reliefs can be obtained regarding the residential accommodation. Completions may be geared to other factors of the breweries such as vacant possession or the discharge of debenture and the situation regarding premises licences being transferred. Future uses and shuttering issues must also be addressed.
We have experience with all such matters and when the ‘beer runs dry’ Aston Bond can help with the new life emerging from the Old Pub.
Nick Powe, Senior Property Solicitor