News > General News

Tynemill switches pubs to tenancies

16-Feb-2006

Related topics: Pub industry statutory code, General News

Award-winning cask-ale specialist Tynemill is now operating seven of its pubs as tenancies, the Morning Advertiser has learned.

 

Tynemill, founded and owned by former Camra (Campaign for Real Ale) chairman Chris Holmes, converted several of its managed pubs to tenancy last year.

 

It has now turned over its latest acquisition - the Wetmore Whistle in Wetmore Road, Burton-on-Trent - to tenancy.

 

Holmes, who also runs the Castle Rock Brewery, says Tynemill has taken pains to ensure tenants make money - and have access to as wide a choice of beer as possible.

 

He added: 'We want tenants to be around for a while. We don't want to take all our tenants' savings over an 18-month period, unlike some.

 

'We don't regard running tenanted pubs as a tenant asset-stripping process. We like to offer tenants a deal where they make some money.'

 

Tynemill has reported turnover of £5,554,121 for the year ended 31 March 2005 with pre-tax profit of £309,293. Turnover the year before was almost identical but profit was £354,096.

 

The difference was mainly accounted for by a £120,000 rise in administrative expenses.

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