UK Pubs Face Demolition If Landlords Dont Let

The confirmation in last weeks budget that there would be no increase in the tax relief rate period on empty business properties could see the demolition of many traditional pubs. The only concession for landlords of industrial and commercial spaces in the budget was that empty property with a rateable value of £15,000 or less will be excused from paying the empty building rates until March 31 next year.
Before April 1 last year, empty pubs, offices and shops received 50 per cent tax relief. They now have to pay the full amount when a property is empty for more than three months. Landlords of industrial space have to pay full rates after six months' grace whereas previously they had full relief.
While this may not directly affect the Publican, the pubcos who will have to pay this extra tax hike will have to pass the cost on or make savings somewhere else; redundancies; increase in rents for the publican; a further rise in the price of beer. But perhaps the worst scenario will be the demolition on old UK traditional pubs.
This is a far greater threat to the traditional UK Pub than a hike in beer tax or any conversion to a takeaway



George IV
Commercial Road
Leeds
West Yorkshire
LS5
£ 100,000 + VAT
Leasehold
http://www.paramount-investments.co.uk/

Save On UK Pub Rateable Value; UK publicans can appeal

Check out your pubs rateable value (http://www.voa.gov.uk)
The website states its case as follows;
Rating is a property tax based on rental value. Whether the property is a shop, a factory or a pub, various elements can affect its value upwards or downwards. The more popular a pub is, and the better the facilities, then the greater the potential for trade and the higher the rental value is likely to be. Events and facilities, such as quizzes, darts and pool, either provide an indication of the popularity and therefore likely potential trade of the pub or constitute facilities likely to enhance trade. They have been recorded and taken into account when valuing pubs since 1990, and are already reflected in current rateable values. This method is agreed with the industry and is a tried and tested way of valuing pubs.
So how does the loss of earning following the smoking ban or the costly investment in outside 2 sided buildings to provide an area for smokers impact on the rateable value of your pub? All that is clear from the website is that certain rural businesses, such as village shops and petrol stations, may be able to claim rate relief and you may be able to get hardship relief if you are finding it difficult to pay. This is normally only available to businesses that are important to the local community.
As you would find it difficult to change the use of a village pub due to its importance in the village, it seems only fair that to keep the pub open, business tax relief should be due?
The smoking ban’s effect on business could be taken into account as well as any other changes in the area, such as the closure of other businesses.
You can query, or make an appeal to reduce the rateable value of your commercial property in the form of a proposal to the Valuation Office Agency.

Holiday Home Sell Off = Holiday Let Price Rise

Furnished holiday home owners face some difficult decisions before the latest budget measures kick in, in April of next year; Previously owners of furnished holiday homes were able to defer capital gains tax payments or offset losses made on their investment against their income. In order to qualify for these benefits, secondary homes had to be furnished, run as a commercial business and available to rent, by the public for at least 140 days a year, with actual lettings for 70 days in the year.

Alistair Darling has put a stop to all benefits, and the result could affect more people than the secondary home owners.

Such measures will make ownership of a holiday home to let far less attractive investment. Many might consider selling their property before next Aprils deadline; sale prices would fall due to a surplus which could provide some bargains for those of us with spare cash. The other side of course is that the letting market will have fewer properties, and owners will be able to charge more.

For those people who have headed the lessons of the credit crunch, tightened their belts and decided to holiday in the UK this year, the price of their holiday accommodation has just gone up. The 2% beer tax hike, the closure of pubs with B&Bs and hotels all impact on the holiday at home market, which has struggled for long enough.

UK Laws for Change of Use of Pubs

UK Pub Conversions- Change of Use
6 pubs a week are calling last orders for the last time with the asking price of the buildings low enough to tempt property developers as well as other retailers. Planning laws on change of use may restrict development to residential property on pubs in certain areas; a city centre pub is more likely to gain permission for conversion to a residential property than the only pub in the village, and some pubs are advertised for sale with full change of use/ planning.
Agents at London-based Paramount Investments said the company would prefer to sell to a new pub landlord but would consider other buyers. Paramount managing director Mark Greig said: “Not all pubs which close down are redeveloped as housing. A lot of them reopen again as pubs or as other businesses.” He added: “Falling property prices are creating tremendous bargains within the pub market for licensees and other entrepreneurs”
So if residential conversion is not available, what changes can be made to the use of the pub for other businesses?

The following classes of use for England are set out in the Town and Country Planning Order 1987. Pubs are in the A4 ‘Drinking Establishment’ class, and can be converted without permission being sought to any of the following;
A1, Shops, retail warehouses, hairdressers, undertakers, travel and ticket agencies, post offices, pet shops, sandwich bars, showrooms, domestic hire shops, dry cleaners and funeral directors
A2 Financial and professional services - Banks, building societies, estate and employment agencies, professional and financial services and betting offices.
A3 Restaurants and cafés - For the sale of food and drink for consumption on the premises - restaurants, snack bars and cafes
Paramount managing director Mark Greig said “Pubs often appeal to retailers because there is a natural crossover in space requirements. As pubs are often around 4,000 sq ft (370 sq m) and have a floor-to-ceiling height of around 8 ft (2.4 m), the sales space is ideal. Furthermore, because pubs also need both basement space for heavy duty equipment and space for deliveries, retailers often find they have ready-made sites for storage.”
UK Pub Sales Agents: Paramount Investments are specialists in the sales and leasing of UK pubs, including freehold pubs, leasehold pubs, inns, public houses, pub tenancies and managed houses.

For further details please contact the investments team on 020 7644 2333

Web: www.paramount-investments.co.uk/
Blog: uk-pubs-for-sale.blogspot.com/
Search: www.uk-pub-sales.net/

5 Tips to Find Top Commercial Property Agents

5 Tricks for Locating the Top Commercial Property Agents in the UK
Written by NicheMarketingExplained.com on April 5th, 2009

1. Commercial Property Agents in the UK : Trust Realestate Professionals Who Have Been Successful With Commercial Property

Many commercial property agents make their money from their clients, not from properties. Gauge a letting agent by their real estate success. Then listen to what they have to say.

2. Commercial Property in the UK : Budget Realtors Agencies Achieve Budget Results

No one likes to pay more than they need to, but sometimes property consultants are very cheap for a reason. Often high quality costs a little more. A commercial estate agency or real estate consultant should be selected based on results per dollar, not just on cost.

3. Commercial Property : An Excellent Realtor Expert Costs More

Commercial property sales are often a mystery to people in the UK who know a lot more about residential sales. It makes sense because even many young adults are familiar with residential sales through the process of buying and selling family homes. Less people, however, have been involved in placing a commercial property for sale, so choose a commercial property agency that has vast experience in this field. Vast experience means in the field of commercial property listings.

4. Letting Agents Are Only Useful if They Can Help Find and Purchase the Property to be Let

A commercial property or commercial property for lease must first be found and bought, so a London commercial estate agent is needed. Leave real estate to the realestate companies so you can focus on your business.

5. Commercial Property Estate Agents With no References Should be Avoided

References are the tie breaker when trying to choose between multiple commercial property agents. Avoid a commercial estate agent who can’t or won’t provide references. There is no reason for them not to let you speak to one of their previous customers if they were truly having a great working relationship with them.
Niche Marketing - http://nichemarketingexplained.com/

Contractor Performance ‘’excels’’ at XL Tower

Luxury lifestyle provider, DAMAC Properties has announced that construction at its XL Tower, a modern and elegant commercial tower located at Business Bay, has reached the third floor.

The building, being constructed by CSHK Dubai Contracting (LLC) - a group member of China State Construction Engineering (Hong Kong) Ltd is one of two DAMAC projects they are constructing – the second one being ‘Business Tower’ also at Business Bay.

XL Tower reflects a unique elliptical design and provides a total of 161,700 sq.ft. of commercial space to the market. 153,000 sq.ft. will be office space and 8,700 sq.ft. will be dedicated to retail at ground level including shopping arcade, covered walkway, and parking for staff and customers.

“XL Tower is progressing well as per our plan. The pace at which CSHK is operating is encouraging and I am confident that customers will be pleased to move into this state-of-the-art seamlessly integrated property,” Chairman and Founder of DAMAC Holding, Mr. Hussain Sajwani. ‘’ Our continuous progress is testament to our long-term confidence in the real estate market in Dubai and we will continue to focus on our delivery goals.”

On the current market conditions, Mr Peter Riddoch, CEO of DAMAC Properties said that, “The current market correction, presents an opportunity. The current scenario seems painful in the short term but such fluctuations are part of the natural cycle of a growing and maturing property market. No market can beat the supply and demand battle; the market will stabilize and will grow. The underlying demand for property in the Middle East is very strong compared to other parts of the world.’’

Mr Qin Jidong, Deputy Chairman, CSHK Dubai Contracting said that, “We have a proven track record of delivering world class projects and have contracted extensive projects across the region. CSHK plays an active role in the industry by means of sound and responsible management. We have been aggressively driving towards high quality and technically complicated projects.

He added: ‘’We have completed more than 500 projects in over 20 years and have undertaken a number of mega size projects of multi-discipline nature, including industrial, commercial and residential buildings, hospitals, hotels among other projects. We are proud to bring this wealth of experience to the Middle East”.

“We are pleased to build two prestigious projects for DAMAC Properties at Business Bay. XL Tower is a modern and elegantly designed commercial tower that serves as an ideal business location. The tower is equipped with parking on 7 levels with 24-hr security, swipe access, hi-speed internet, and a host of leisure activities like outdoor swimming pool, outdoor jogging track, gymnasium, health club and cafeteria,” concluded Mr. Jidong.

XL Tower project also recorded one of the largest concrete pour in the company’s history when a total of 5,500 cubic meters of concrete was poured in 25 hours