The impact of the new Licensing Act together with a difficult trading environment and other new legislation on capital and rental values of UK nightclubs

This paper examines the impact on capital and rental values in the nightclub sector of various matters including a change in the Licensing regime with the implementation of the Licensing Act 2003, changes to the Town and Country Planning (Use Classes) Order 1987 together with a generally difficult trading environment. We also consider the threats and opportunities that face this sector including the forthcoming ban on smoking in public places. This paper relates to nightclub premises in England and Wales with Scotland having a different legislative framework. Many of the themes and issues, however, explored in this paper are equally applicable to Scotland.