Electric OR Oil Fired Central Heating

Hey folks I have a bit of a question and i'm hoping someone here might be able to give me the answer.

I have apartment which has access to an oil fired boiler but no heating circuit installed yet, or I already have the place wired for some form of electric heating and I'm trying to figure out which way would be the best to go.

For the electric heating I just need to buy the heaters/rads and have an electrician hook them up when they come to wire the rest of the sockets and fuse box.

For the Oil Fired I would need to get a plumber to start lifting floors, laying pipes and installing radiators. Might be worth saying that the boiler is for my families pub below and is at least 16 years old. Not sure if that would effect economy of running them in the long run?

The real questions is which will be cheapest to install and which would be cheapest to run in the long run?

Also if Electric is the way forward what kind of heaters should I be looking to install as there seems to be so many varieties and I wouldn't know one from the other?

Cheers in advance for any help folks can offer.

All the best, Shane.