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Managing Director - Pubs & Restaurants
+44 20 7227 0778 View Team

Pubs

Christie & Co is the leading specialist team of pub agents, valuers and consultants, offering advice on over 7,500 pubs. Our corporate head office is based in London, and supported by a network of 15 regional offices throughout the UK, giving us an intimate knowledge of every local market.

Looking for pubs for sale? Start your search here


So how can we help you?

Corporate services

Our corporate offering covers a broad range of services to suit investors and operators in the pub sector. Our services cover the entire investment lifecycle from strategy, to acquisitions, valuation and disposal services, amongst others. Click here to discover our corporate services.

Purchasing a pub?

Becoming a publican is a lifetime dream for many. Whether buying your first pub or expanding your estate, why not register on our website or contact one of our agents now for details of pubs we have for sale? It's free of charge, and we'll email you new pubs that match your criteria as soon as they come onto the market.

Thinking of selling your business?

It's important to seek professional advice early on to ensure that you position your business in the right way. A member of our team will visit you at a convenient time including outside operating hours, if discretion is required, to talk you through the sales process and help you make informed decisions. Our initial advice is free and provided without obligation, on a strictly confidential basis. 

To get an insiders' view of the market and expert advice on how to achieve the best price for your business, speak to one of our pub specialists, or call our Managing Director of Pubs and Restaurants, Neil Morgan.

We can also advise on all aspects of the purchasing process and even help you to raise the capital to fund a purchase or refinance through our sister company Christie Finance.


Formal valuations and a range of other advisory services

Our team of Chartered Surveyors offers a range of valuation and property related services to the pub sector, including:

  • Accredited “Red Book” valuations for loan security purposes
  • Dispute resolution/expert witness assignments
  • Market Rent Only option services (“MRO”)
  • Rent reviews on behalf of either landlord or tenant
  • Freehold 'bricks and mortar' valuations
  • Asset reviews for estate portfolios
  • Rating Advice 

In addition, our Pub and Restaurant Consultancy Team works with a wide range of clients from independent operators to the largest corporate clients. With an in-depth knowledge of the economic, financial and political factors affecting the market, and up-to-date transactional evidence, they are able to support you in making the right strategic decisions. Discover our Pub & Restaurant Consultancy.

For initial advice and to discuss the services we provide, please contact either Stephen Owens for valuation services or Ramzi Qattan for consultancy services.

48,000


UK pubs remaining at the beginning of 2019

  View all pubs for sale

Market overview

Innovative operators continue to thrive

M&A activity was sporadic throughout the past 12 months. A number of stalwarts, including Fullers, Marston’s and Punch Taverns, acquired small portfolios in package deals, and interest from private equity remained strong, as perhaps best evidenced by Davidson Kempner’s acquisition of 370 pubs from ei Group’s commercial property division. Some market churn from corporate operators continues, and good quality stock suitable for tenanted or franchised operations is equally in demand as well invested managed houses. 
 

Cost pressures


Average overheads are now eating up 52.5% of net revenue, up 3% in just two years. Wage cost inflation on the back of legislation is largely to blame, with the National Living Wage, apprenticeship levy and pensions auto-enrolment all contributing to significant rises. Property costs, primarily rent and rates, are the other key contributors to rising operator costs. However, following the wave of CVAs on the high street that began in early 2018, rents have showed signs of returning to sustainable levels, with reductions of up to 30% becoming commonplace. 
 

Changing landscape


Whilst the number of pubs has fallen, the number of large pubs has grown significantly since 2001, resulting in a net increase in the total trade area and number of people employed within the sector. New purpose-built managed houses that cater to the modern pub-goer are more efficient to run. National and regional operators, such as Greene King, Marston’s, McMullen & Sons and JW Lees, are all investing in new builds in either prominent locations or within large housing developments. 
 

Brexit


Aside from the negative impact of some cost inflation, the devaluation of the pound following the referendum on EU membership has driven an increase in tourists visiting the UK and boosted the popularity of staycations. As such, pubs with letting rooms have increasingly proven themselves as capable of successfully competing with both budget accommodation providers and the boutique market. 

Our Services

With experience across the entire market, from major players to independent operators, we can offer solutions tailored specifically to our clients' needs.

Independent services

  • Agency
  • Building Surveying
  • Consultancy
  • Development
  • Dispute Resolution
  • Finance
  • Insurance
  • Investment
  • Rating
  • Rent Reviews
  • Turnaround and Recovery
  • Valuation

Corporate services

  • Agency
  • Consultancy
  • Development
  • Turnaround and Recovery
  • Valuation
  • Investment
View All Services