The Covid pandemic has had a huge impact on the UK in so many areas. It is not only the NHS that has suffered so heavily, but also the economy has had devastating blows and the deaths that have incurred throughout the country have been a tragedy.
Having said this, there have been some positive things that have come as a result of the pandemic. Positive aspects are for businesses that are online based such as e-commerce as well as small businesses that have an online presence. These businesses have thrived during the pandemic as the public have focused their buying online.
There is also a new demand that no one could have foreseen before the pandemic. This is the investment to purchase pubs and hotels particularly in the Southwest of England.
Investment demand for pubs and hotels in the Southwest has escalated so much that the demand for these premises far outstrips the availability and supply of these businesses and premises.
Penzance, in Cornwall, is currently seeing a large interest for leisure based properties. Mr Treloar, head of agency at South West property consultants Vickery Holman said demand for hotel properties outstripping supply as owners “wait to see what happens in 2021” with the UK moving smoothly along the “roadmap” out of Covid restrictions.
Mr Treloar went on to say “‘We are seeing significant interest in hotels across the South West and we are keen to speak with owners who are considering a move in the near future.
“We have parties interested in buying hotels and pubs on our books but demand is out-stripping supply at the moment.”
Hospitality Industry experts are saying that say the demand for staycation holidays in and around the UK and specifically in the Southwest is at its peak due to the fact that so many countries that are under the traffic light system for restricted travel due to the current pandemic travel restrictions has meant that many people have decided to remain in the UK for the holidays and have decided to have a staycation and travel to the most popular regions of the country of which the Southwest is possibly the most popular.
Investors see this opportunity as a Goldmine and is the result of such great demand for pubs and hotels in the Southwest