Belfast Telegraph

Three Northern Ireland pubs for sale as industry counts cost of increasing bar bills

By Emma Deigan and Margaret Canning

Three pubs across Co Down, Co Tyrone and Belfast have gone on the market - with the owners of at least two retiring from the trade.

And Colin Neill, head of trade body Hospitality Ulster, said decisions to sell reflected the pressures facing the industry.

He said publicans are facing rising costs from growth in the minimum wage - with over-25s' hourly rate going up from £7.50 per hour to £7.83 - while business rates will go up by 1.5%.

"As well as rising costs for business, there is also inflation for consumers, including a 4% increase in domestic rates - which leaves less disposable income for dining and drinking," he added.

It comes as the owners of The Planters in Waringstown reveal their decision to shut down as costs go up. However, it is not yet on the market.

The Pheasant Lodge public house in Gilford is on the market. It has been run by its present owners since the 1990s when it offered both food and drink. However the kitchen was closed some years ago. The property on 34-36 Mill Street is made up of two mid terrace two-storey buildings.

No asking price has been named by selling agents Osborne King.

In Fivemiletown, The Tanyard Tavern on Main Street is selling for £199,000.

It's on the market due to the owners' decision to retire after 34 years. Property agent Watters says the business benefits from a "healthy turnover".

And on the Springfield Road in west Belfast, the Kashmir Bar is on sale for just under £600,000. The sale includes an off-sales retail unit and four apartments.

The current bar and off sales have an annual turnover of £525,000. However, it's not clear whether it's on sale as a result of retirement.

Belfast Telegraph

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