The number of pubs ‘vanishing’ from the communities that they once served, having called last orders for the final time, has rocketed by 50% in the last 3 months.
The real estate adviser Altus Group has today warned that 50 pubs a month are now ‘vanishing’ from communities across England and Wales.
During the 3 months to the end of September 2022, analysis of Government property tax records, reveals that 150 pubs were either demolished or converted into other types of use such as homes and offices. Wales and the North West lost the greatest number of pubs.
That number is up 50% on the 200 pubs which ‘vanished’ and were lost for good during the first 6 months of 2022.
The total number of pubs, including those vacant and being offered to let, fell below 40,000 for the first time to 39,973 at the end of June compared with 40,173 at the end of the 2021 calendar year according to Altus Group’s annual business rates review released today.
With pubs grappling with soaring costs and fragile consumer confidence, Robert Hayton UK President at Altus Group, said last month’s mini budget contained “glaring omissions” adding “it beggars belief that a self-proclaimed low tax Government could allow pubs lose to their business rates discount next April as well as seeing any benefit from next year’s revaluation potentially wiped out by inflation.”
Until the end of March next year, pubs receive a 50% discount on their business rates bills worth on average £9,563 per pub although that support is capped at £110,000 per business and is due to end on 1st April 2023.
Overall business rates revenue is also set to rise next April in line with September’s headline rate of inflation which is due to be released by the Office for National Statistics on 19th October.
Wetherspoon’s have already warned that they are facing “a momentous challenge” to persuade pubgoers back into its bars after they got used to drinking cheap supermarket beer during the pandemic.