Pubs & Restaurants Market Insight: East Anglia
In this blog article Liana Gatier, Business Agent at Christie & Co shares her insight into the hospitality market in East Anglia.
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Liana Gatier
Business Agent - (South - Pubs and Restaurants)
East Anglia's popularity as a tourist destination has contributed to a steady flow of interested buyers in the first few months of 2024, ranging from seasoned operators seeking a coastal hospitality business for a lifestyle change, to newcomers looking to kickstart their journey within the sector.
Fortunately for these prospective buyers, the region’s vibrant pub and restaurant scene offers an array of options, spanning from traditional pubs with historical charm to modern, innovative eateries.
What makes East Anglia an attractive place to buy a hospitality business?
The region’s location and accessibility make it an attractive destination for both locals and tourists. This constant and steady influx of visitors enables hospitality businesses to tap into a robust tourism market. Simultaneously, the local community's affinity for supporting their independent establishments adds a consistent stream of loyal customers.
Buyer Appetite
Buyers are looking for quality pub and restaurant businesses in prime locations, in particular waterfront, coastal and marina settings. Pubs with accommodation or the potential to develop such an offering continue to attract notable interest. However, we have also experienced increased interest for wet-led establishments and free-of-tie leasehold opportunities, suggesting a desire for more flexible and cost-effective investment options due to the current challenges around lending.
Current opportunities on the market
Many of the operators reaching out for our advice are at the point of retirement and looking to discuss their exit strategy, so we expect a lot of exciting opportunities that have previously been unavailable to come to the market this year.
Take a look at some of our current properties on the market.
Staithe 'n' Willows Tea Room - Horning, Norwich
The Tea Hut - Woodbridge, Suffolk
The Horseshoes Inn - Bury St. Edmunds, Suffolk
Waterfront Bar Bistro - Ipswich, Suffolk
Case Study
The King William IV pub on Gorleston seafront was marketed late summer 2023, offering the freehold with vacant possession. We achieved asking price from a cash buyer - a local operator expanding their portfolio and completed on the deal in just 16 working days.
