News Article Comments : Enterprise: £1.3m a month on tenant support

Enterprise: £1.3m a month on tenant support

Martin that final question was somewhat tongue in cheek lol or perhaps even verging on sarcasm. I understand their methodology but that doesn't necessarily mean it is correct, in that I don't think it is really showing a true picture. Anybody not understanding the pubco model may read this article and presume that tenants earn circa £45,000, I am sure many are thinking if only! This in turn could raise questions as to why tenants are unhappy and that perhaps it could be as suggested just moaning and whinging from a few. However it would appear that the latter is not the case.

This is the problem with FMT it can be manipulated to suit the needs of the few rather than the majority. Please correct me if I am wrong but as far as I am aware FMT is decided on a reasonably efficient operator, but what exactly is a reasonably efficient operator? If there are no clear definitions and perameters then it could always be open to abuse.

This post replies to martin kay > Enterprise: £1.3m a month on tenant support

Enterprise: £1.3m a month on tenant support

Actually I don't think it is Mr Willis, I think it was Humberts who did valuation this year.

I went to the Pubco Inquiry yesterday at Parliament (yes anyone can go) to lend my support to the brave witnesses who are representing all us licensees. It turns out

Mr. Willis is the MD of one of those big property agencies (who I probably can't name, but it looks a bit like 'Ferrets' and rhymes with 'Tourettes') and, as luck would have it for the Pubco's, Chairman of the Trading Related Valuations Group - they advise the Chartered Surveyors on how to value pubs - as one witness pointed out, despite his company having 68 pubs available on new leases, 18 of which are on the instructions of 'Star ship' Inns (thats 20% !) I am sure he will have no problem ignoring the influence created as a result of the MASSIVE fees derived from them and other Pubco's. He is after all impartial !!

HA - YEAH RIGHT

If Fairpint win the tie could be removed from all our Pubco leases. Next session December 9th Pubco's "in the dock" - can't wait - come on down.

This post replies to brian clarke > Enterprise: £1.3m a month on tenant support

RE: Enterprise: £1.3m a month on tenant support

Nice one Tony.

Martina Willis told the committee at inordinate length how RICS surveyors are highly trained experts whose work is second to none and implied essentially that their assessments are pretty much infallible. This annoyed me intensely because, no matter how much he may believe the stuff he comes out with under his Royal Charterdom I know, unshakeably, that he is absolutely wrong. And then came: 'Well yes. But it's not quite like that in the real world' - to paraphrase the opening of David Morgan's follow up response.

At the end of the hearing I explained to Martin Willis, after introducing myself politely, that the stuff he said in the room about the conduct and impartiality of RICS qualified surveyors at tied rent review is completely opposite to the experience of lessees; which is that surveyors are in the business of supporting pubcos because that's where all their work comes from whether acting for, or against, the lessee. It's quite evident they don't have any interests in promoting the sustainability of a business.

Mr Willis disagreed, as did his two delightful lady entourage, one of whom was their press officer, and they all suggested that if I had a difficulty with a RICS surveyor I should call the free helpline for a half hour's free advice. When I pointed out that my case has been through arbitrator, high court and back to arbitrator and still not resolved after three years and a half hour wasn't likely to do much goo; they looked a bit like 'oh we better get out of here'.

edited by: J Mark Dodds at: 20/11/2008 01:06:04

This post replies to Tony Preston > RE: Enterprise: £1.3m a month on tenant support