S&N Pub Company offering tie-free deal

By Matt Eley Matt

- Last updated on GMT

Related tags: Newcastle pub company, S&n pub company, Lease, Leasehold estate

Scottish & Newcastle Pub Company is offering 19 vacant pubs on free-of-tie leases. The move comes after the pubs, which are spread across the...

Scottish & Newcastle Pub Company is offering 19 vacant pubs on free-of-tie leases.

The move comes after the pubs, which are spread across the country, had been marketed for four months as tied leases.

Rents range from £11,000 to £41,000 per year and the pubs, which are currently being run by temporary management companies, include community locals, village pubs and food houses.

S&N Pub Company head of lessee training and recruitment Andy Braithwaite said: "Having a pub without a permanent lessee is not satisfactory for the individual business, the customers it serves or, given the overheads, for the company as a whole. It makes much more sense to protect the assets of the pub and get in a free of tie lessee to grow the business.

"There are many excellent business opportunities here which would not usually be available free-of-tie and we think that experienced operators will recognise this."

Neil Morgan, of Christie + Co which is marketing the pubs, said: "We are confident that the broad appeal of a free-of-tie lease will generate a high level of interest for these sites."

The leases will be fully repairing and insuring and for a minimum of 10 years.

Related topics: Property law

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