Banks Long bucks the trend….
Despite the difficult times that a lot of publicans are continuing to experience through a combination of the weak economic conditions,
availability of cheap alcohol from supermarkets and off-licences and the introduction of the smoking ban, that has seen hundreds of pubs close already this year, with the buildings redeveloped or used for a number of different uses, Lincoln based Chartered Surveyors, Banks Long & Co are pleased to report a number of recent deals that are bucking the trend. They have recently concluded transactions involving three pubs in the County that will see the new operator continuing the existing public house use. The firm have sold two pubs on behalf of Enterprise Inns, The Olde Barn at Tealby and The Sun Inn at Saxilby both to private investors who have in turn now let the pubs to well established pub operators. This includes Gainsborough based pub company Smith Inns who have taken The Sun Inn in Saxilby. Finally, the firm have also let The Red Lion in Market Rasen on behalf of a private investor client. Banks Long & Co Director, James Butcher, who has dealt with these deals comments, "we continue to find that despite the difficult conditions in the wider economy and other factors such as the wide availability of cheap alcohol the introduction of the smoking ban, all of which are putting pressure on publicans throughout Lincolnshire and also further a field, there continues to be a good level of demand from both purchasers and tenants whenever we offer pubs for sale or to let in the County. These three transactions buck the national trend which is a good sign for the County as well as being a good thing for the local communities where these pubs are situated, who can continue to visit these establishments."
