It is reported that around 14 traditional British pubs are closing their doors permanently each week and this is likely to see a huge spike due to the financial impact of the current pandemic. This is a sad statistic for the hospitality industry with many of the old buildings then slipping into a state of disrepair.
For many property investors, a disused pub offers an opportunity to breathe life into a building by converting the existing structure into an area of affordable living space. This helps to add value to the local community whilst also adding multiple properties into the investors portfolio.
The Grafton Hotel & Pub which is situated in Worksop is a prime example of such a project, the building was snapped up by a local investor who went on to obtain planning permission to convert the space into eight new flats.
Whilst we have been advising the client on the utility requirements for some time, we have now received an order to coordinate the new utility installations.
The pub will retain the two existing water services and we will facilitate the installation of a new six way manifold to feed the remaining flats. Additionally, a new electric BNO arrangement will be installed to the building to provide power to each flat and to the communal areas.
We look forward to seeing the transformation in the coming weeks!