Renting

Legislation

Fair Pint's Clarke: "Heaven forbid tenants might actually make a decent living"

18-Nov-2015 By Simon Clarke

Fair Pint campaigner Simon Clarke gives his view on the tenanted debate and busts a few myths on pubco objections to the new legislation.

Summit

MRO debate: fear of managed house growth & less tenant opportunity

13-Nov-2015 By Emily Sutherland

Industry figures have voiced their fears about a potential rise in the number of managed pubs in the wake of the market rent only option, arguing the legislation will lead to less opportunity for entrepreneurial multiple site operators and stifle innovation.

Legislation

Draft pubs code battle begins

03-Nov-2015 By Mike Berry & Michelle Perrett

Pubco reform campaigners are set to launch a battle to get parallel rental assessments (PRA) reinserted back into the pubs code.

Pubs code

10 things we've learnt about the pubs code

30-Oct-2015 By Michelle Perrett

The Government has published its first draft of the pubs code and how it proposes the market rent-only option (MRO) will work in practice. Here are 10 key points from the draft code.

Comment

Pubs Code: 'Our proposals aim to strike a balance for both sides'

29-Oct-2015 By Anna Soubry

With the first draft of the Pubs Code revealed, business minister Anna Soubry set how the code aims to work in practice.

Minister discusses legislation: Is the Pubs Code working?

Minister discusses legislation: Will the pubs code work?

22-Sep-2015 By Oli Gross

Claims that the Pubs Code will be ineffective have been presented to pubs minister Marcus Jones in the build up to a consultation.

City news

Red Oak Taverns acquires 146 GRS pubs

01-Sep-2015 By MC Allegra FS

Red Oak Taverns, the Mark Grunnell-led pub operator has acquired the 146-strong GRS tenanted pub portfolio, in a deal thought to be worth c£35m.

Property advice

Getting the most from empty rooms in pubs

28-Aug-2015 By Laurie Macdonald

Pubs may have rooms ‘behind closed doors’ - back of house spaces not used as main trading areas. Although kitchens, storerooms, cellars and offices can use sthis space, there is often plenty left over. Laurie MacDonald explores the options for using empty...

Pubs Code

MRO: Meltdown or Real Opportunity?

10-Aug-2015 By James Wallin, M&C Allegra Foodservice

The introduction of the pubs code, and crucially the Market Rent Only (MRO) option, represents the biggest shake-up of the leased and tenanted pub sector in a decade.

Legal advice

New licensees...make sure your start-up is sound

27-Jul-2015 By Poppleston Allen

In the thrill of starting up a licensed premises it can be easy to get distracted by thoughts of your very own traditional British-style pub or Tom Cruise’s ‘Cocktail’ joint.

Property advice

The options for tenants when choosing a lease

09-Jul-2015 By Duncan Young, Mere Commercial

Duncan Young from Mere Commercial, a specialist leisure and commercial property consultancy, explains the options for tenants when choosing a lease.

FLVA updates members on pubs code

06-Jul-2015 By Martin Caffrey

The Federation of Licensed Victuallers Association (FLVA) held a series of member briefings on the forthcoming pubs code last month. Ops director Martin Caffrey provides an update.

Survey

Average new lease length drops to five years

29-May-2015 By Oli Gross

The average new pub lease length fell to five years in Q1 this year, a drop from seven years for the whole of 2014.

Analysis: Enterprise prepares for an MRO future

20-May-2015 By Mike Berry

Enterprise’s new five-year plan was revealed last week. Mike Berry picks out the main points of the pubco’s strategic review.

Operator news

Punch delivers profits

22-Apr-2015 By James Wallin, M&C Report

Punch Taverns has reported a 0.5% rise in like-for-like income in its core estate for the 28 weeks to 7 March 2015 and EBITDA down from £108m for the period last year to £105m this year.

ETM Group to open Suffolk country pub

23-Mar-2015 By Ruth Williams, M&C Report

ETM Group, the London-based gastropub operator led by Tom and Ed Martin, is opening its first country pub at Preston St Mary in Suffolk called the Six Bells this spring, M&C Report has learnt.

RICS: Highest pub rent costs in two years

26-Feb-2015 By Ellie Bothwell

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.

GRS would like estate to be 100% free-of-tie

24-Feb-2015 By James Wallin, M&C Report

Ted Kennedy, chief executive of tenanted pub group GRS, has said would like his estate to be 100% free-of-tie and has predicted the whole portfolio will be sold in under two years.

Pubcos denied right to elect use of PIRRS

12-Feb-2015 By Mike Berry

The Pub Governing Body (PGB) that oversees PIRRS — the rent resolution service for pub tenants — rejected a request from pubcos to allow them to automatically elect to use the scheme for fear it would undermine its credibility.

Spirit's new lease deal 'offers lower-risk option' for landlords and tenants

28-Jan-2015 By Ellie Bothwell

Spirit Leased’s new turnover-based rent deal has been praised by one operator who says it offers a mutually beneficial and lower-risk option for both landlords and tenants.

Pub property predictions for 2015

14-Jan-2015 By Ellie Bothwell

How will the pub property market perform in 2015? The Publican’s Morning Advertiser speaks to the agents in the know.

The Great Pubco Myth - Investment and Support

06-Jan-2015 By Robert Sayles

The pubco propaganda machine has focused primarily on two key benefits of the tied model – investment and support. If what we’re told is true then the removal of such benefits would result in many more pubs closing.

INSIGHT

Top tips on optimising your letting space

04-Dec-2014 By Gavin Mansfield

Gavin Mansfield, tenant operations manager at McMullen, offers his top tips on optimising your letting space

Barons says new Spirit lease model shows best of pubcos

04-Dec-2014 By James Wallin, M&C Report

Clive Price, managing director of Surrey-based Barons Pub Company, has said his latest site with Spirit under a new style of leasehold proves pubco/tenant relationships can benefit both sides.

Don’t idealise the end of the pub tie

03-Dec-2014 By Paul Tallentyre

Many pitfalls await tenants and pubcos if the proposed changes to the pubs code are implemented, warns Paul Tallentyre, pubs and bars director at Davis Coffer Lyons

Legal challenge against MRO in pubs code 'would fail'

25-Nov-2014 By Ellie Bothwell

There is no scope for a legal challenge against the market rent only clause in the pubs code, a leading competition lawyer has claimed.

INSIGHT

Preparing for business rates revaluations

20-Nov-2014 By Nicola Murrish

Last week, the Government announced that business rates assessments from 2017 onwards will be based on a property’s rental value on 1 April 2015. Nicola Murrish, associate at Vickery Holman, south-west commercial property consultants, provides the details

MPs table market rent only pubs code amendment

10-Nov-2014 By Ellie Bothwell

A new pubs code clause outlining a market rent only (MRO) option for tied tenants has been tabled and received cross party support.

Parallel rent assessments 'could produce rents of zero'

05-Nov-2014 By Ellie Bothwell

The parallel rent assessment provision in the pub statutory code could suggest that a tied tenant pays no rent, the Government has claimed.

Majority of free-of-tie rents up in capital and Midlands

04-Nov-2014 By Ellie Bothwell

An overwhelming majority of free-of-tie pub rent reviews in London and the Midlands resulted in an increase during the past three years, according to Fleurets Rental Survey 2014.

RICS claims rental valuation is 'not a failure in landlord and tenant relationship'

28-Oct-2014 By Ellie Bothwell

The Royal Institute of Chartered Surveyors (RICS) has called into question fundamental aspects of the Government’s pub statutory code proposals.

INSIGHT

Don’t fall down over dilapidations

28-Oct-2014 By Anthony Alder

Anthony Alder, director at AG&G chartered surveyors, lifts the lid on what you need to know to help you avoid claims by landlords

INSIGHT

A guide to rent reviews

23-Oct-2014 By David Morgan

Tenants are becoming more successful in securing their own rent cuts, according to Morgan & Clarke chartered surveyors director David Morgan. Here he gives his tips on smart negotiating during a review

Fleurets warns of 'lack of transparency' in rental market

23-Oct-2014 By Ruth Williams, M&C Report

New lettings can often lack transparency and are not representative of the “true market” Fleurets, the leisure property specialist has warned lessees.

Insight

A guide to nil premium leases

01-Oct-2014 By Matt Bettesworth

Matt Bettesworth, managing director of Bettesworths, explains the pros and cons of taking on a nil-premium lease

Trade warning over pubs code threat to temporary tenancies

17-Sep-2014 By Mike Berry

Thousands of pubs could remain shut for longer than is necessary unless the Government removes temporary tenancy agreements from the new pubs code, senior industry figures have warned.

The value of tenants' alterations

02-Sep-2014 By Jonathan Essex

Improving your pub is vital to sustain and grow business. But how does it affect your property’s rent and valuation? Jonathan Essex, associate director at Colliers International, shares his advice for tenants

Pub rents fall as a proportion of turnover

28-Jul-2014 By Rob Willock

Average dry rents on new pub leases from the four largest tenanted pub companies are up sharply this year, but have fallen as a proportion of projected turnover, as the market stages a steady recovery.

Fair Pint campaigner: 'IFBB have nothing to fear from pubs code if they practice what they preach'

25-Jul-2014 By Simon Clarke

The Independent Family Brewers of Britain (IFBB) this week described the Government's pubs code proposals as "an insult to the way we do business". Fair Pint campaigner, Simon Clarke, says they have nothing to worry about if they are treating...

IFBB demands changes to 'insulting' pubs code proposals

24-Jul-2014 By James Wallin

The Independent Family Brewers of Britain (IFBB) has branded the proposed pubs code "fundamentally unacceptable” and demanded the Government makes changes.

JDW boss Tim Martin: 'Jamie Oliver is causing rents to rise'

16-Jul-2014 By John Harrington

JD Wetherspoon (JDW) chairman Tim Martin has said the willingness of Jamie’s Italian, the restaurant group founded by high-profile chef Jamie Oliver, to accept high rent costs is causing rents for other operators to rise.

Statutory code will require all pub companies to have a 'compliance officer'

19-Jun-2014 By James Wallin

Jonathan Neame has criticised the Government’s plans to force all pub companies to have a dedicated compliance officer under a statutory code.

Hawthorn Leisure buys 88 R&L pubs

04-Jun-2014 By Mark Wingett

Hawthorn Leisure, the group set up with the acquisition of 275 pubs from Greene King, has announced the acquisition of 88 tenanted and leased pubs from R&L, the pub portfolio formerly part of property tycoon Robert Tchenguiz’s property empire in a...

Stonegate-operated package sold in £28m deal

03-Jun-2014 By Mark Wingett

OLIM Property, the property investment company led by former Liberal Democrat Treasury spokesman Matthew Oakeshott, has acquired 15 freehold pubs let to Stonegate Pub Company for £28.3m.

Pub tenants warned over break clauses

30-May-2014 By Ellie Bothwell

A property lawyer has advised pub tenants to check whether break clauses are outlined as unconditional in their lease, after the Court of Appeal ruled last week that Marks & Spencer (M&S) was not obliged to receive a refund in rent following a...

New rent arrears rules are 'still not understood', warn property agents

30-Apr-2014 By Ellie Bothwell

Pub property agents have welcomed new regulations governing the ways in which landlords are able to recover commercial rent arrears, but warned that the changes are “still not understood”.

Statutory code consultation: A year in purgatory

22-Apr-2014 By Rob Willock

This week marks one year since the launch of the Government’s consultation on the introduction of statutory code to regulate the relationship between pubcos and their tenants.

Revealed: The bitter dispute between Enterprise Inns and GMB union over pub's new lease

10-Apr-2014

The saga of the signing of a new lease at the Pattenmakers Arms in Duffield, Derbyshire, has hit the headlines and was even raised in Parliament. Last week licensee Claire Muldoon reached agreement with Enterprise Inns but recriminations have continued...

Enterprise tenant reaches new lease agreement following potential 42% rent hike

28-Mar-2014 By Ellie Bothwell

A Derbyshire tenant has reached agreement with Enterprise Inns on new lease terms, after the pub company originally insisted she pay a rent increase of 42% to stay at the pub.

Enterprise tenants' fury over lease changes post rent review

26-Feb-2014 By Ellie Bothwell

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.