How have recent troubles in the licensed industry affected public house property interests?

Lee, Robert (2010) How have recent troubles in the licensed industry affected public house property interests? MSc dissertation, University of Portsmouth.

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    Abstract

    The public house is one of this nations great institutions; however in recent times pubs have faced many troubles affecting their turnovers and values, and causing many to close.

    Through the use of primary and secondary research, this project investigated as to what effect industry troubles have had on pub values, identifying why those that have closed are being disposed of, and for what alternative use.

    A detailed review of the relevant literature surrounding the topic provided information on past and present ownership patterns, examined how pubs were valued, reviewed industry troubles, and highlighted future forecasts. This ensured a deep understanding of the subject, and provided data on which to reinforce primary findings.

    Eleven industry professionals were interviewed: two surveyors, two developers, two planners, two industry body representatives, and three pubco representatives, each of which were asked a differing range of questions applicable to their specialism.

    Interview data was analysed alongside secondary data and further reinforced by a range of case studies. Analysis concluded that of the many factors affecting pubs at present, the biggest threat is currently the credit crunch.

    In addition to this as pubs are valued using their potential profits; the lowered turnover created by industry troubles, has led to falling pub values, and high levels of closures.

    Research also found that of those closed, many are being converted for an alternative use with pub sites being regarded as good to develop, due to good prices, sizes, locations and permitted development rights.

    Finally the project concluded that closures are expected to continue, as those that are unable to adapt become uneconomical to run. Food sales are expected to rise as the pub and restaurant sectors further converge, and pubco’s will continue to increase their market share, following in the footsteps of the UK fuel and grocery industries.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 01 Feb 2011 12:40
    Last Modified: 28 Jan 2015 11:17
    URI: http://eprints.port.ac.uk/id/eprint/1120

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