Pub tenants still suffering from high rent demands

The UK pub market is continuing to suffer from landlords’ high rent demands which tenants are unable to meet.

The findings were announced this morning by property agent Fleurets in its Survey of Rentals in the Public House markets (2007-2008), which focused on high street chains and traditional pubs.

It showed that the average rent for high street pubs in the City of London was £208, 875, up from £177,900 in 2007, while the average rent in Outer London jumped from £80,714 to a staggering £152,000.

Further afield, the average rent for high street pubs had also increased. 

In the South-east they rose to £114,708 from £97,688 in 2007, in the South-west and South Wales prices hit an average of £154,500 from £98,747 the previous year.

By contrast, high street rents have fallen in the Midlands from £106,600 to £90,125 and in the North of England from £123,690 to £108,378 over the same period.

The traditional pub market was more stable, with the exception of the Midlands, where rents increased by 28.9% over the last five years – meaning they are now fast approaching the traditionally more expensive rates in the south east and west.

Fleuret’s chairman, Barry Gillman, said: “It has been another year of pulling reluctant brides and grooms to the altar. Landlords want more rent to pay their bank debts while tenants cannot even afford the rents they are paying.”