Ryden boosts Licensed & Leisure team
Ryden has boosted its Licensed & Leisure team with the appointment of Douglas Lambie, MRICS MCIArb. Douglas has vast experience in the licensed sector of the property market, having worked with Punch Taverns, Enterprise Inns and Mitchells and Butlers during his 30-year property career.
Ryden Consultant Andy Macpherson, comments: “We have substantially grown our business in the licensed & leisure sector and I am pleased to be working with Douglas, whose experience is very valuable to our future growth plans. “The sector has faced many challenges over the last few years, including the economic recession, cut-price competition from supermarkets, and the drink driving legislation which took effect in December 2014.”
He added: “Since the peak period in 2007 the market has slowed down considerably, with the only properties coming on to the market being bottom-end premises sold by the various pub companies, or forced sale or administration/insolvency type cases, with very few genuine open-market transactions of good quality stock. “There has been increased market activity over the past year across individual sales and some package sales, including good quality properties and businesses. The possible exception to this is Aberdeen and the north east due to the current difficulties within the oil and gas sector, although there is still demand for good quality operations.
“The forthcoming Scottish rating Revaluation in 2017 may well present new challenges to the sector, however Ryden has one of the strongest business rates teams in the north of the UK, and with Douglas’s addition, we can help even more licensed and leisure operators save and mitigate their liability.”