Stephen Taylor, Managing Director of Guy Simmonds, reports that:
"...although The Covid19 pandemic has obviously impacted with severe consequences for the licensed trade, closing outlets etc in these unprecedented times, we are still pleased to report there is still interest in freehold and private free-of-tie leaseholds, with a number of viewings and limited completions still taking place, albeit obviously at drastically reduced levels, and lower prices, compared with pre Covid19 and the 'lockdown'.
We continue, along with the rest of the licensed trade to follow the strict evolving Government guidelines. Guy Simmonds are still fully marketing all businesses and our office is still operating efficiently, albeit our staff are working remotely in line with evolving Government guidelines, dealing with email queries in a reasonable time frame. Similarly, viewing requests, (which we are pleased to say are increasing) are dealt with and made by email, and interested parties complete our routine questionnaire (including financial and buying position etc) prior to us endeavouring to make viewing appointments. We always of course email the official Covid19 evolving Government regulations link in respect of viewing businesses and homes to our vendor clients and prospective purchasers - for them to adhere to.
Obviously, the short and medium term future is completely uncertain, and the economy is already now in the worst recession for centuries (and we clearly need 'and hope and pray' to avoid a 'second wave' of Covid19) but we would sincerely hope that from effectively 'ground zero' interest and nationwide paralysis upon 'lockdown', the level of interest (since strict viewing guidelines were introduced), continues to grow, especially after licensed businesses re-open to the public.
After re-opening, we hope that our beleaguered publicans, will manage to re-establish a 'new normal' level of trade, whereby a basis can quickly be formulated for us to annualise trading figures and revalue the goodwill element of the business (due to closure), if future trade levels decrease significantly.
We fully understand and appreciate our publicans have a highly challenging, unprecedented and unpredictable trading period ahead of them, which will probably include a high number of the public wary of entering enclosed trading areas due to the possibility of continuing Covid19 prevalence. Also, the dire future impact of Covid19 upon the economy and huge unemployment increases, will obviously result in a lower overall consumer spend in licensed trade businesses."
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