Enterprise reveals further details of premium tenancy agreement

By Oli Gross contact

- Last updated on GMT

Enterprise reveals further details of premium tenancy agreement

Related tags: Renting

Enterprise Inns has revealed further details of its Partnership Tenancy Plus – a new flexible tenancy agreement. 

Partnership Tenancy Plus has been designed to enable experienced operators who have funding in place to focus on running their business.

The agreement sees Enterprise providing pound for pound match funding for improvements alongside publican investment, while RPI on rent will be capped at a 2% increase per annum.

Enterprise takes responsibility for internal and external repairs, decoration of trading areas and living quarters, and a contribution of up to £1,000 per year towards the pub’s maintenance costs.

Licensees will be free of tie on wines and spirits, while still having access to the largest tied drinks range.

The roll out is part of Enterprise’s five-year strategic plan which includes a revitalised leased and tenanted business.

Enterprise sales and marketing director James Armitage said:  “We are always looking at ways to evolve our business and provide innovative new agreements that work for our publicans.

“This agreement is all about taking some of the distractions away so publicans can focus on running great pubs.  We developed it using insight from independent industry research and feedback from both existing and potential publicans which revealed that property condition and ongoing repairs and maintenance are amongst the biggest concerns for them.

“With this agreement we will support publicans by taking some of this responsibility away.  Publicans who sign up with Partnership Tenancy Plus can be sure that they are going into a pub where they can hit the ground running and can focus on running their pub business their way.”

Partnership Tenancy Plus is a five-year agreement, available to new publicans or existing Enterprise publicans at the end of their current term.

With agreements already in the pipeline, the company expects to sign 50 new deals in the next few months. 

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