For our last Coffee With interview of 2022 we sat down with Elysia Wilson-Gunn who has a dual role at Fleurets; working in our main agency team and specialising in Capital Markets.
Have a read through her full interview below where she reflects on the current leisure property market and where it could potentially be in six months' time:
- How has your week been?
Positive but very full. At the moment we are seeing an uptake from clients across most sub-sectors requesting advice to be prepared for early 2023 after Christmas trade, to consider asset disposals and an increase in acquisition advice from operators expanding. I've also undertaken two customer inspections to provide indicative prices and finalised sales details for a new investment sale of a nightclub to go to market in January.
- What is your role at Fleurets?
I have a dual role; in the main agency team dealing with disposing and acquiring freehold and leasehold sites for private individuals and corporate clients generally in Buckinghamshire, Hertfordshire and North London.
I also specialise in Capital Markets with investment sales for private equity, pension funds and private individuals selling assets such as gyms, bars, nightclubs and pubs across the country.
- Favourite pub/bar to drink at?
The Wheatsheaf in Tooting one of Urban Pubs and Bars 40 sites, which I actually sold as an investment to CBREGi in 2019.
- What has been the highlight of your career so far?
It would probably have been when we transacted over £55m of investment sales in one month, selling portfolios and individual assets within the Tavern Propco estate to in-situ tenants. It was really challenging, but exciting time for us.
- Your final meal?
A meal might be considered the least of my concerns if I was about to die.
- How has the industry changed since you started at Fleurets?
I've seen the market come full circle. I began my career in 2007 just as the recession began and I saw how quickly operators had to adapt in the face of adversity.
When reading the news at the moment, both personally and professionally, I like to remember how we came out the other side and the economic climate became more positive swiftly.
- What's your idea of a perfect Sunday?
Visiting the Black Lion in Kilburn run by London Village Inns - a very good Sunday lunch. Excited to see how the new hotel rooms they are adding look.
- Favourite thing about working at Fleurets?
The flexibility we all have to explore different fee earning ideas. Also having the professional team to call upon in regards to rent reviews and valuations provides a well-informed approach when undertaking work thanks to the different services we offer.
We all have a good level of support with an in house designer and strong PR team who push our market presence, services we offer and advertising properties on the open market to achieve swift sales for clients. And of course our support staff who make the wheels turn whilst we are out of the office on inspections and meetings. They also deal with all the initial enquires and make sure our clients receive the Fleurets experience that we are very proud of.
- What is your drink of choice and what do you avoid at all costs?
Chardonnay. No mescal.
- Where do you see the hospitality market in the next six months?
'With all disruption comes opportunity'. Sadly during this downturn there will be casualties but there will also be emerging concepts which will benefit from some failing values and a change in customer habits. I think in the second half of next year we will see more agency instructions coming to the market with quick transactions taking place like in 2008. The properties will likely be a combination of operators who are unable to keep up with costs that are out of their control: utilities bills, business rates going up in April and the rising living wage. However, I'm sure we will also see operators who wish to expand taking positives from a dip in values and a greater choice of assets to purchase.