During the 2018 calendar year, a total of 914 pubs closed down according to real estate advisor Altus Group’s annual business rates review, which is set to be released this week.
On 1 January 2019 the total number of pubs in England and Wales, liable for business rates, fell to 41,536 with the overall number declining by 1,530 since the revaluation of business rates came into force on 1 April 2017.
The rate at which pubs are vanishing either being demolished or converted into types of use such as homes and offices has, however, eased significantly according to Altus Group.
Between April 2010 and April 2017, 11,608 pubs were either demolished or converted into other types of use with the number of pubs falling from 54,674 to 43,066 between April 2010 and April 2017 equating to around 138 per month.
Alex Probyn, president of expert services at Altus Group, said: “The increase in the thresholds at which businesses, such as pubs, pay business rates coupled with the pubs discount during the last two financial years has helped ease the decline.
“The new retail discount, which slashed rates bills by a third for high street firms with a rateable value of less than £51,000 from 1 April, will help independent licensees in small premises and hopefully will stem the decline even further.”