Why are so many Shepton Mallet pubs on the market?

By Laura Linham

11th Dec 2022 | Local News

If you've ever fancied yourself as a pub landlord, there are five pubs on the market in Shepton Mallet - with everything from freehold to leasehold up for grabs.

From small, cosy town-centre bars, to historic properties just begging to be turned into overnight accommodation, each of these buildings could make someone's dream come true - but be warned, it's not an easy industry to be in.

First up is the Swan Inn, Town Street, with a freehold price tag of £225,000. It's described by the sellers as a town centre treehouse, in a central position in the town. Easy to run and compact, it has a split-level main bar, pavement seating and four rooms suitable for letting.

Second on the list is the Charlton Inn, on the market for a £10,500 leasehold. It's described as a profitable and well-established wet sales business that made a turnover c.£330,000 net of VAT. The estate agent says there is also extra scope to develop a food business alongside the established business.

Anyone who takes on the Charlton Inn would find themselves in charge of a well-presented bar area, function room/skittle alley as well as a large beer garden, decked and covered outside space and a 25-space car park.

There is also a good quality three-bedroomed home with private fitted ktchen.

The Bell is on the market for £395,000 freehold. Slap bang in the middle of the town centre, described as a 'Fine period building ripe for improvement'. The agents say there is scope for a bed n' breakfast business alongside the pub, which is currently closed.

Reasonably new to the market is The Highwayman Inn, a traditional coaching inn with large open plan trade area and function rooms, as well as 14 en-suite letting rooms over three floors.

The building was constructed in approximately 1880 and has been extended over time. The property is arranged over 3 floors and is brick built with a multi-pitched clay tiled roof. There are some flat-roofed garages and outbuildings located at the rear.

The Well Inn, on the A37/A371 main road is also up for lease, for £75,000 including all the furniture and fixtures.

The 17th Century coaching inn has recently undergone an extensive programme of refurbishment and improvement by our client, in the last 3 years, creating a superior trading environment with exceptionally well-furnished public areas and impressive ensuite letting bedrooms.

The business offers 16 Well-Appointed Ensuite Letting Bedrooms all of which have been refurbished in the last 2 years. Situated on the first and second floors of the property, the rooms are equipped with remote control colour televisions and hospitality trays.

But why are so many pubs on the market in Shepton? There's no denying it's been difficult for the hospitality sector, and even post-pandemic things aren't getting easier. It's not just Shepton Mallet that's been hit hard.

Steven Alton, chief executive of the British Institute of Innkeeping, which represents independent pubs, said many venues would need to trade 20 per cent above pre-pandemic levels "just to stand still" against a backdrop of "crippling inflation and energy costs". "

It's estimated that fifty pubs are closing every month in England and Wales as economic mayhem hits the hospitality industry. Between the end of June and September this year, a total of 150 pubs were either demolished or turned into homes and offices across the UK - close to the 200 pubs which shut in the whole previous six months. 

The struggle to lure in consumers comes as pubs face pressure from spiralling ingredient prices, energy bills and labour costs. Households are also cutting back to cope with their own higher utility and food bills. 

Further pressure lies ahead for the pubs which can survive this winter, given that from next April, they are set to lose their business rate discount, which has been in place to help them recover following the pandemic and a series of lockdowns.

     

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