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That’s correct but it is very difficult to get a license in a new property and easy to get a license for a property previously licensed.
Alcohol licences go with the person(occupier/manager) not the property.
Convenience stores grabbing share from the supermarkets at the moment and the likes of Tesco love buying pubs to convert into convenience stores as they come with an alcohol license.
barchid did not intend to sound Bullish, just identifying the possibilities, but also the obstacles which can prevent an easy change of use.
I could have added a converted pub "could" be attractive to some purchasers, however in this uncertain climate property sales may well stumble. As they say one can always sell at a price. Have read recently Property Agents believe prices could be discounted as much as 30%. That would be disaster for a huge number of people.
Trent/Fairdealer
Thanks for the welcome, I do agree with the minority owner, Stelios/Easyjet, Vodafone/Verizon are 2 examples of that, but I'm not as bullish as Fairdealer on the revenue that could be derived from change of use, as I said in my post earlier. But time will tell, certainly I'd rather have Carlsberg running a brewery than a bank !!! Which is what could have happened if we did not accept the Danegeld...
Yes welcome back barchid. At least you have come back to more sun and have avoided the enforced 14 day quarantine.
Although the deal is a God-send for MARS, the devil maybe in the detail as I am always believe the Major partner in any JV , will look to protecting their Interests.
It seems the Breweries and distribution facilties will be transferred to CMBC. It follows, unless I have missed something, the £273m covers the valuation of those assets. Cannot find the segregated valuations of breweries and other facilities, as this will have bearing on the residual asset values. As I see it not only will debt reduce so will the residual assets.
There will be economies of scale...….. resource reductions, which will be a benefit, just hope business does return to something like normal. There is the uncertainty.
The issue of poorly performing pubs may be addressed with change of use to Residential. That could be a benefit providing Local Planners approve....many pubs are Listed buildings.
Publication of the interim results has been delayed from 17th May until June ( date not specified). Reason for delay has not been stated, could be Covid, could be the Carlsberg deal, or something else??
Bondholders are to approve or otherwise some minor changes to agreements, by 27th May. We should hear more on this tomorrow or Thursday.
Welcome back to blighty Barchid. Hope its cold enough for you mate.
You've not missed much while you've been away mate. Apart from this carlsberg. Thing
Trent/Fairdealer
I actually arrived back v late last night on a repatriation flight, yes, far worse places to be locked down in but after 5 months away nice to be back.
Well, a foreign take over was always what I had often posted that I thought could happen, this is interesting though.
Bad news first, we are left with a string of very often sub par pubs.
So they might get planning permission, but a long slow game with their estate and what is a pub converted into a few flats really worth in this climate ?
But the good news is MARS is a brewer, only holding 40%, but with a great partner, to paraphrase their ad "probably the best brewer in the world" that business is the one to buy into and wave hasta la vista to the rump estate. My concern is RF's probable aggressive valuation of said estate.
Obviously up until now as we brew our own beer it costs us cost price, do you think Carlsberg would still allow us to have it at that price seeing how they would own 60% of the breweries?
@ Eflammis
No idea mate. That's anyone's guess I think. Just have to wait and see what transpires.
Maybe Fairdealer. I understand that he is still in South Africa at the moment, so hopefully he'll be enjoying the sunshine, and perhaps a couple of cold ones.
A nice problem to have I suppose. Fair play to him if that is the case. There must be worse places to be "stranded" I guess.
I'd pick Kalamaki in Zakynthos for myself given the choice but I guess we all have our favourite places.
Hi guys, I got some more on Tues last week, so got my avg down to 96p By Friday, so I was chuffed with that. Wonder how this merger will affect future dividends? As you know we’ve had it good up until recently..
Evening Trent, yes some very interesting theories ( expectations) here from the newbies. Hope they have done their homework!!!
I'll leave my thoughts for a day or 2, when the dust has settled. Guess barchid is evaluating the fine print?
At the moment.
Anything is possible I suppose, I wouldn't have put money money on Marston's being in this position last Monday. I for one never saw it coming.
Tomorrow will be interesting. We'll see what we see I guess.