Gaffbee Commercial · Pubs and bars
Freehouses, tenancies, wet-led locals and food-led destinations — with tenure, accommodation and trading context where available.
Pub opportunities range from buying a freehouse outright to taking a tied tenancy with a modest ingoing cost. The commercial shape of the deal matters as much as the building.
A tied agreement means buying drink from the pub company at their prices, usually offset by a lower rent and support. Free-of-tie gives you buying freedom at a higher rent. Compare total cost of occupancy, not just the rent line.
Ask for at least two years of accounts plus recent till reports, split between wet, food and accommodation. Check the gross margin on drink — it tells you quickly whether a tie is squeezing the business.
Many pubs include a flat above, which affects both value and council tax versus business rates apportionment. Confirm the split and the condition of the private areas, which are often the worst-maintained part of the building.
Ingoing costs commonly cover stock, glassware, fixtures and a deposit, and often run from a few thousand pounds to £30,000 or more depending on the site. Buying a freehouse is a property purchase with commercial mortgage deposits typically 25–40%.
The Pubs Code governs the relationship between tied tenants and large pub-owning businesses in England and Wales, including the right in some circumstances to request a market rent only option.
Someone at the premises must hold a personal licence and be named as designated premises supervisor for alcohol to be sold. The course and application are straightforward but take a few weeks.
Trading pubs are generally valued on a multiple of maintainable profit, with a check against alternative use value. A closed site is more likely to be valued on redevelopment potential.
