Pub property agent hits out at property developer tactics
The aim of the property owner is to develop the properties without compensating the tenant.
Writing in this week's Publican’s Morning Advertiser (27 Sept), Dan Mackernan, associate director of landlord & tenant at Davis Coffer Lyons, noted: “The landlord may also try and implement a higher building insurance policy and demand the annual payment upfront rather than in monthly instalments making cashflow difficult.”
He advised all licensees to read their leases extremely carefully.
Mackernan also said that he had noticed that at the higher end of the market, tied pubs with just a few years left on the lease were being bought out by pub companies who wait until the lease is up for renewal, and then take it back to run under management.
He added that there was little the tenant could do to stop this practice.
