000			01423cab a2200181 4500
001			##L131636
008			051121n2005 000 0 eng u
035			_a(Sirsi) u131636
041	0		_aeng
100	1		_aGillham, Barry
245	0	0	_aWhat is the value of a public house as an over-rented investment?
260			_c2005
490		0	_aJournal of Retail and Leisure Property _v4(4) 2005, 343-351(9)
520			_aSets 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.]
590			_aIKA221105
690			_aPROPERTY-COMMERCIAL PROPERTY-LEISURE PROPERTY-REFRESHMENT AND CULINARY PROPERTY-LICENSED PROPERTY
942			_n0
999			_c76211 _d76211