The pub and late-night bar sector has seen substantial growth in turnover figures in the first quarter of 2018, according to the latest UK leisure sector update from Fleurets.
This follows a particularly strong December from the likes of Redcomb Pubs, Barworks and Deltic Group, said the leisure property company.
However the picture was not so positive in the middle market restaurant sector, due to reports of Carluccio’s calling in advisors and Jamie Oliver Restaurant Group and Prezzo both having launched CVAs and having them approved.
In the pub sector, freehold pub prices increased by 14.6% in Q1 2018, driven by fewer individual deals and more portfolio deals in 2017, said Fleurets.
Notable activity in terms of sales have increased Brewdog acquiring Draft House with 13 London-based units, and Fuller’s purchasing Dark Star Brewery.
The report also highlighted the growing interest in the wider leisure activity market, with tin pin bowling, for example, having seen growth of 28% since 2012.
According to Fleurets the projected figure for spend on all leisure activities in 2018, is £129bn – an increase of more than 17% in the past five years. The property company added that it was expecting to see opportunities arise in the restaurant sector as a result of unit closures dues to the CVAs actioned. “This sort of shift in the market can bring opportunity for smaller, newer operators with innovative ideas,” it said.
