Turnover forecasts for newly leased pubs have risen by 14% for the next two years due to “improved business confidence”, according to the latest data from the Royal Institute of Chartered Surveyors (RICS).
Punch has revealed 40 licensees have asked what the difference in costs would be if they decided to take the market rent-only option (MRO) since the pubs code came into force in July.
By Rachel Thompson, commercial property solicitor at Gordons LLP
With three new voluntary codes of practice introduced to govern the operation of tied public houses for companies with fewer than 500 tied premises, here is the basics of what the codes cover
The average rent on a new lease was £29,253 in the fourth quarter (Q4) of 2015, up by more than 3% year-on-year, according to the latest figures from the Royal Institute of Chartered Surveyors’ Pub Benchmarking Survey.
Pub rent as a percentage of projected turnover reached its highest level for almost two years in the last quarter of 2014, but saw a slight drop overall compared to 2013, according to the Royal Institute of Chartered Surveyors Pub Benchmarking Survey.
Two Enterprise Inns tenants have spoken out after the pub company demanded they agree to significant changes in their leases as a condition for implementing a rent reduction.
Spirit Pub Company has told the Government that it may be forced to introduce upward-only rent review (UORR) clauses to leases if a free-of-tie option is made mandatory.
The average annual rent for new pub leases in England and Wales stabilised at £24,939 per annum during the third quarter of 2013, according to the Royal Institution of Chartered Surveyors (RICS) Pub Benchmarking Survey.
The average annual pub rent for new leases in England and Wales dropped slightly to £24,368 per annum during the second quarter of 2013, according to the Royal Institution of Chartered Surveyors (RICS) Pub Benchmarking Survey.
Rents remain higher as a proportion of turnover among tied pubs than free-of-tie pubs, according to this year’s Benchmarking Report from the Association of Licensed Multiple Retailers (ALMR).
Only five free-of-tie leases were granted though Punch Taverns, Enterprise Inns and Marston’s in 2012, the first Royal Institution of Chartered Surveyors Pub Benchmarking Survey has revealed.
Pub property sales in Suffolk appear to be picking up as agents Simon Jackaman Associates and Christie+Co are dealing with “ever-increasing demand” in the county.
Pub tenants should keep a closer eye on rent review dates, or face paying a higher rent for a longer period than they should — that’s the warning from licensing surveyor Morgan & Clarke.
Greene King, the brewer and pub operator, is to launch two new tenancy agreements aimed at encouraging “highly talented” entrants to enter the trade, and giving cash incentives for good retail performance.
The lease of the Rising Sun, in Middleton, Derbyshire — the pub run by licensee Dave Mountford — has been put up for sale on the Punch Taverns website.
The British Beer & Pub Association (BBPA) has unveiled its newly strengthened Industry Framework Code of Practice (IFC), which is part of its self-regulation agreement with the government over the pubco/tenant relationship.
Punch Taverns has offered further concessions to new licensees to tempt them to sign up to three new leases it's offering. The company launches the leases officially in its south-east region next week.
Enterprise Inns is set to unveil a range of new lease agreements and support packages in the coming weeks as it seeks to attract new tenants and help...
The firm that manages Wellington Pub Company's free-of-tie estate says it doesn't expect to offer any rent reductions to licensees. Tenant says Wellington's view is that they are not like Punch and Enterprise.
Lancashire brewer Daniel Thwaites is to convert 37 managed pubs to lease and tenanted operations in a bid to "simplify its business." A further five...
We all know we're in the midst of a financial crisis. Consumers are tightening their belts in readiness for the real storm many believe is yet to hit...
Punch boss Giles Thorley has denied claims that the pubco is struggling to let pubs despite a weekend report that around 1,400 of its pubs are looking for new tenants.
Busy location on coastal main road
Extensively renovated detached public house
Five trade areas (100)
Sizeable refurbished 4-5 bedroom accommodation
Newly created beer garden (125)
Established and popular business...
