Briefly outlines the history of the valuation and appraisal of licensed premises since the 1950s and discusses how the system has evolved through the course of years in line with market trends. Analyses the resultant changes in the methods of appraisal in respect of the public house and details the several constituents of standard such appraisal. Suggests that the traditional methodology for this type of property is no longer appropriate in today′s marketplace.
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