What is the value of a public house as an over-rented investment?
Language: English Series: Journal of Retail and Leisure Property ; 4(4) 2005, 343-351(9)Publication details: 2005Subject(s): Summary: Sets out the current position whereby many public houses are being offered as investments, generally by auction. Most of these investments are being especially created by way of sale and leaseback with vendors offering rents substantially in excess of market levels. Sets out to ascertain the true value of an over-rented investment; what advice should be given to lending institutions; what investigations should a potential bidder make; what is likely to occur should existing tenants suffer from business failure or assign a weaker covenant? The paper also considers the yields on prime high-street public house investments and their movement over the past three years. It contrasts these yields with those pertaining to less attractive properties and covenants and those patently over-rented and poor-risk properties. [Taken from journal abstract.]| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L131636 (Browse shelf(Opens below)) | 1 | Available | 131636-1001 |
Sets out the current position whereby many public houses are being offered as investments, generally by auction. Most of these investments are being especially created by way of sale and leaseback with vendors offering rents substantially in excess of market levels. Sets out to ascertain the true value of an over-rented investment; what advice should be given to lending institutions; what investigations should a potential bidder make; what is likely to occur should existing tenants suffer from business failure or assign a weaker covenant? The paper also considers the yields on prime high-street public house investments and their movement over the past three years. It contrasts these yields with those pertaining to less attractive properties and covenants and those patently over-rented and poor-risk properties. [Taken from journal abstract.]