With its castle, respected university, and lovely old buildings, the picturesque north-eastern city of Durham is very much in demand among operators.
However, David Lee, associate director at the Newcastle office of property agent Christie & Co, reckons that demand exceeds supply by around 10 to one. And the city's limited size and small, old buildings means that further development in the centre is largely out of the question.
Leasehold restaurant sites, if you can find one, start from about £100,000, Lee says. Most pubs, whether leasehold or freehold, are owned by the big breweries.
It's the same story for hotels, which are mostly owned by corporates and usually come to the market only as part of larger package deals.
The surrounding pit villages and small towns do offer opportunities, especially in the pubs sector, but Lee says that the market in these areas is completely different and requires a different approach to that for the student-orientated market of Durham, with its smattering of trendy bars.
Even nearby Newcastle is difficult to get into these days, he adds. But there is one piece of good news about Durham for prospective operators. "If you can get in there," says Lee, "it's difficult to not trade well."