List of all posts by user:

yes he interpreted it differently to enterprise as he set it at 35% not 50% but did he agree with all the costings of the Shadow profit loss i.e. were the utility charges reasonable and what % did rics use for staff costs. changing from 50 to 35% is great in this case but all the pubcos have to do now is get their mate at rics to bump up there profit assessments a bit more. The pubcos will be just as happy with 35% of £100,000 as they were with 50% of £70,000. We need to get the method of assessing potential profit more realistic.

the judge was not interested or concerned about the freehold or the book value which are as you say calculated by RICS guidelines. The judge was only concerned with the annual rent that the landlord could reasonably expect to get if the current tenants were to leave and the landlord had to find new tenants its these hypothetical new tenants that the judge was thinking of. Enterprise were trying to say we can lease this pub to anybody tomorrow and there will be a queue of people wanting to pay £39,000 per year. the judge decided that based on the rics assessment of the profit of the pub a reasonable person would, given the state of the trade in general, be willing to pay £1800 per year. Unfortunately for us sitting tenants he did not disagree with the Rics Method of assessing potential profit.

1st off find out how much your paying per unit we pay 9.9 p daytime less at weekends and night. after E4B (our then supplier) went bust british gas tried to charge us 19.9p at all times!!! if your paying over 10p find out if your in a contract and if you are read the terms of that contract. If your out of contract phone EVERY supplier you can find and go with the cheapest. 2nd read your meter everyday or each week and workout how many units you are using there may be more than 1 reading if like us you have different rates at different times. work out which reading is for what rate then multyply the units used by the cost per unit for each rate. add them all together add on the daily service charge and you now know what it should be costing you per day/week if this differs from what your paying ask you electicity comp to explain the difference. If there was a debt on the account when you took over they may be overcharging to recoup there loss. You should not be paying for someone elses debt. when you took over you should have called all the suppliers to check prices and changed to the cheapest. Never believe the people who phone you saying their from the national grid or electricity register etc and tell you your supply is not registered they will just sign you up to a contract at silly prices.

If you value freehold pubs properly at 1.5 times turnover who in there right mind is going to buy a freehold then leese it out for 4%of turnover which would return 2.66% on the investment. I aggree the rent should be based on real T/O but we need a more sensible figure. Also if there was a hard and fast ratio for rents and the pubco beleived the pub was underperforming all they would have have to do is employ one of there "average" operators for 1 yr to up the T/O and they could then up the T/O to the risc level and then relet it at a percentage of the then current T/O

Chris What is the url of your website??