Selling Your Pub
Since the onset of the recession, there have been a lot of pubs for sale/pubs for lease throughout the UK.
A simple Google search of "pubs for sale" or "pubs for lease" reveals the true glut of pubs now for sale and lease in the UK, although these tend to be bottom end pubs doing less than £400K net per annum. This kind of pub is not so much in demand because the supply of purchasers is lower than the supply of stock and borrowing is still a massive issue with the banks. Clearly quality sells, and pubs which could be suitable for £20K plus per week will fly. If you want to sell, you have to take the current market conditions into consideration. Even if you fly a kite on price, and get someone interested, unless the purchaser has cash to make up equity to 30-35% of the bank valuation, the bank will not support the purchase. Pub Innsite are not big enough to stand vendor's unrealistic expectations, we are able to work hard to get the market price as quickly as any big agency (or quicker!), but at a more cost effective fee. The key is understanding the market and not paying too much attention to quoted prices, but actual sale prices.
No Up Front Fees
Where you are prepared to market your pub based on our recommendations, our fees will normally be on a no win no fee basis. Where a more speculative approach to value is taken, we will require up-front fees to assist with marketing costs - these fees will come off the success fee - we believe that our fees provide more value for money compared to other larger agencies. There will be an abortive marketing fee should you terminate our instruction.
Our fees are usually lower than our competitors because we don't have flash cars or offices, our overheads are low and we can pass these savings on to you. We also deal with low volumes which means your property is more important to us - we don't have graduates to grind your sale through the mill and each site is given quality time by an experienced Chartered Surveyor or Consultant. Our views are honest because we want a reputation for selling not collecting marketing fees.
Do not be flattered by salesmen, if the price quoted means it's too good to be true, then it is. Your upfront marketing fee of £1,000 or more, goes to pay for the trip to visit you and company profit. There are views that such companies make more on termination fees hidden in their contracts than actually selling pubs AND they retain rights of an inflated success % even if someone else does the deal later with a previously introduced party.
How will you Let or Sell my Pub?
We will provide you with a report detailing a marketing value and the best way to market your property. Each pub is different and each vendor's circumstances are different so we can provide a truly bespoke marketing report, whether it is open marketing or confidential marketing, we do the right thing for your business. We want your business, and care about your business and act like we do.