Run down property sales: Property for sale needing repair,
renovation and refurbishment
Please follow the links above to explore our site or click here to view
our list of pubs for sale.
Before you buy a pub for redevelopment, explore different ways of achieving that all-important profit:
Minor improvements. A general decorative overhaul can push up the value of a pub, without involving planners, architects and a big investment.
Converting a Pub. At its most simple you might take a public house and turn it into flats, but this still involves complex budgeting and financing. A professional developer would avoid using their own money to fund a major conversion and this is worth remembering if you're considering investing all your own funds. There's often a large gap between the value of a pub and what it might fetch converted to flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning consent will normally be required in both scenarios.
Change of use. The conversion of a building from one of business use into housing is a more complex proposition. For example, when turning a pub into flats, the big, initial risk is trying to buy a pub without first applying for planning consent for 'change of use'. You should never buy a pub on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with planning officers. Many pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted.
The practicalities. With any prospective pub conversion, you'll need to have a good understanding of building regulations and of the architectural possibilities of your property. When converting larger and more substantial pubs, you'll probably need a professional team and you'll need to budget for their services.
Property Investment
Distressed Property Sales
Poor overall maintenance can be seen in cracked or peeling paint, crumbling masonry, broken fixtures or shoddy wiring or plumbing. While most of these cosmetic defects can be easily repaired, you do need to pay particular attention to any makeshift electrical or plumbing fixtures, which can be potentially dangerous.
Minor structural damage can result from water seepage into the foundation, floor joists, rafters, or window and door lintels. Although they won’t cause the house to collapse, they do require your attention before becoming more serious.
Plumbing problems typically include old or incompatible piping materials and faulty fixtures or waste lines.
Water and air leaking in around windows and doors is usually not a serious problem and can be fixed inexpensively with proper grouting.
Inadequate ventilation can cause too much moisture to remain in the house which can ruin interior walls and structural elements. To repair damage caused by poor ventilation, you may need to replace drywall and other elements. Replacing structural elements, however, may be much more expensive.
Environmental hazards include lead-based paint (often found in homes built before 1978), asbestos, formaldehyde, contaminated drinking water, radon and leaking underground oil tanks. Special inspections are needed to determine environmental problems, and repairing any of these problems can be expensive.
Property Renovations
If you’re planning to buy a property that requires renovation or
you plan to carry out major structural changes, ensure that you have an
accurate estimate of the costs.
Buying Cheap Property
Pubs are cheap due to the smoking ban, competition from supermarkets or just changes in the way we live. The licensed property market is being flooded with cheap empty pub sites ahead of the scrapping of concession rates for empty commercial properties. click here to search pubs, clubs, bars, hotels, restaurants and other licensed properties for sale in UK
Property repossessions – Sadly for the previous owners, repossessions can often be picked up at bargain prices
Investment properties – Properties, which are valued due to the return on investment that they provide. Includes everything from individual office/shop investments to blocks of flats.
Rundown properties – Properties that are unsaleable in their current state. The attraction here is if you can get such a property in a good location at a cheap price it’s perfectly possible to refurbish and resell on at handsome profits. Unsaleable properties come under the following categories:
- Derelict properties or in derelict areas.
- Properties subject to severe disrepair.
- Properties subject to local authority notices.
- Properties subject to repossesion.
- Properties with ambiguous legal titles.
- Properties without access.
- Properties with major fencing, paving, drainage or other similar responsibilities.
- Properties subject to covenants or restrictions, which prevent normal use
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