Average rents on new leases stabilise
This is the second quarter to provide comparable data for the four leading companies — Enterprise, Punch, Marston’s and Star Pubs & Bars.
In the previous quarter average rent on a new lease was £24,368.
As part of the report the four pubcos predicted that average pub turnover would reach £301,066 in the next two years, similar to the last quarter. If so, rental costs will represent about 8.5% of turnover.
Pubs in the London have the highest rents at £31,853, followed by the south-west at £25,700 and the south central at £25,147.
A total of 237 new leases were granted in the period with average lease length at six years.
