UK pubs are selling "like hot cakes", according to pub sales agent Paramount Investments.
The slump in prices to what the licensed property agent describes as “rock bottom levels” has led to a surge of sales.
Paramount Investments reports sales spurred on by rock bottom prices and recent pub buyers have included undertakers, community groups, retail and residential developers.
Due to their A4 use-class, pubs can be converted into retail premises, offices or restaurants without needing to acquire planning permission.
Paramount confirmed it has sold 30 pubs since the beginning of the year, with some freeholds costing as little as £55,000.
Gavin Sherman of Paramount Investments said: “To sell 30 pubs in the traditionally quietest two months of the year, with only three staff selling, in the middle of a terrible recession, is nothing short of amazing.
“We were the first pub sales agency to lose the sense of guilt about selling pubs to other sectors, such as shopkeepers, care homes, community groups, housing agencies and property developers.
“Most townspeople would rather see some sort of business operating in a former pub than to see a boarded up building with no future."
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