“It’s the money, stupid”
Money. It can’t buy you love, but perhaps a pint of beer in one of London’s more fashionable watering holes. At three pounds a glass, beer has become very “reassuringly expensive” indeed. No sarcasm intended. In a city where a broom cupboard can fetch GBP 180 000, pubs have become prime property. Or why should anybody be interested in the beer business if it were not for the value of pubs? The property developers love them because they know how to squeeze the assets, the pub companies love them because they like the steady cash flow. As do the bankers and investors who back the pub companies. The brewers are probably regretting the day they were forced to sell their pub estates. By the way, does anyone still care about the beer? Thank you for asking: That’s what the CAMRA guys are for.
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6 print issues