grafikhaus74 Posted November 30, 2008 Share Posted November 30, 2008 Enterprise have done the usual - put a good couple into a pub and if it works, slam up the rent. Lee & Hannah are doing a great job in this pub (Sandygate Road) and have just released their delish Christmas Menu. Get yerselves up to this beautiful part of the world! Link to comment Share on other sites More sharing options...
Ade65 Posted November 30, 2008 Share Posted November 30, 2008 Nice to see a menu variation, but they should never take the amazing fish and chips off their menu. An absolute belly-buster of a fish, and tasty! Link to comment Share on other sites More sharing options...
bluemonday Posted November 30, 2008 Share Posted November 30, 2008 Are they looking for new a pub manager there? I thought I saw a sign up when I went past today Link to comment Share on other sites More sharing options...
goldenfleece Posted November 30, 2008 Share Posted November 30, 2008 Are they looking for new a pub manager there? I thought I saw a sign up when I went past today its available to rent yes, back on the Enterprise Pubs to let page.... Link to comment Share on other sites More sharing options...
theripsaw Posted December 1, 2008 Share Posted December 1, 2008 its available to rent yes, back on the Enterprise Pubs to let page.... I agree these two are great hosts / managers. Sunday quiz nights are always buzzing. Shame for them to be off so soon as things have improved amazingly since they took over, not least the food! Goldenfleece- people mention Enterprise force the rents up if a pub performs well- how does the rent review procedure work for these pubs? Do tenants have no option but to sign a lease with regular rent reviews? How regular? A standard retail lease has a review every 5 years. Link to comment Share on other sites More sharing options...
goldenfleece Posted December 1, 2008 Share Posted December 1, 2008 I agree these two are great hosts / managers. Sunday quiz nights are always buzzing. Shame for them to be off so soon as things have improved amazingly since they took over, not least the food! Goldenfleece- people mention Enterprise force the rents up if a pub performs well- how does the rent review procedure work for these pubs? Do tenants have no option but to sign a lease with regular rent reviews? How regular? A standard retail lease has a review every 5 years. What usually happens these days is people take on pubs on a tenancy at will (TAW), which is a way of seeing how a business performs WITHOUT signing a full lease or tenancy agreement with all the legal trappings that entails. A TAW allows you to run a pub without being tied to a fixed term or to a contractual rent: often these are considered 'trial' periods which lead up to signing a normal tenancy, and in such TAW situations, the rent is often greatly reduced to allow the operators to see if they can make a go of the pub before signing up for 5 years or more. It is common to have a rent free period, sometimes a few months, to establish some trade patterns and 'test the water'. The rent will then become payable, often initially at a low level with incremental rises up to the 'normal' contractual rent level....if the operators survive this part, they will then be expected to sign a standard tenancy or lease, and fully commit to the Pub. However, if when the rent becomes due or has increased towards the full tenancy level rent, and the operators are struggling, they can then quit, as all they have is a tenancy at will which can be ended by either party at any time. Don't know about the Plough, but many operators get pubs on a TAW to test the market, but find once rent becomes due or rises above the discount rates they simply cannot afford it....pubs like this are obvious as they will change hands at least 2 or 3 times a year,meaning no one can actually make them pay...... Many operators on a TAW think things are OK, until the rent becomes due or starts to rise towards the Pub Co full rent...then they get a nasty shock, and realize the business is simply not workable at such rents..... On standard pub 5 year tenancy agreements, at the renewal time its the norm for a full UPWARDS ONLY rent review to take place, and Pub Co's will increase the rent proportional to the Pub trade (or more precisely, to whatever they feel cheeky enough to demand and get away with) ...it is RARE they will ever lower a rent for an established tenant, even if trade has fallen...its a catch 22 situation for many..this is why the whole industry needs regulating in some way because its the greed of Pub Co's that are killing Pubs, above and beyond everything else..... Link to comment Share on other sites More sharing options...
theripsaw Posted December 1, 2008 Share Posted December 1, 2008 What usually happens these days is people take on pubs on a tenancy at will (TAW), which is a way of seeing how a business performs WITHOUT signing a full lease or tenancy agreement with all the legal trappings that entails. A TAW allows you to run a pub without being tied to a fixed term or to a contractual rent: often these are considered 'trial' periods which lead up to signing a normal tenancy, and in such TAW situations, the rent is often greatly reduced to allow the operators to see if they can make a go of the pub before signing up for 5 years or more. It is common to have a rent free period, sometimes a few months, to establish some trade patterns and 'test the water'. The rent will then become payable, often initially at a low level with incremental rises up to the 'normal' contractual rent level....if the operators survive this part, they will then be expected to sign a standard tenancy or lease, and fully commit to the Pub. However, if when the rent becomes due or has increased towards the full tenancy level rent, and the operators are struggling, they can then quit, as all they have is a tenancy at will which can be ended by either party at any time. Don't know about the Plough, but many operators get pubs on a TAW to test the market, but find once rent becomes due or rises above the discount rates they simply cannot afford it....pubs like this are obvious as they will change hands at least 2 or 3 times a year,meaning no one can actually make them pay...... Many operators on a TAW think things are OK, until the rent becomes due or starts to rise towards the Pub Co full rent...then they get a nasty shock, and realize the business is simply not workable at such rents..... On standard pub 5 year tenancy agreements, at the renewal time its the norm for a full UPWARDS ONLY rent review to take place, and Pub Co's will increase the rent proportional to the Pub trade (or more precisely, to whatever they feel cheeky enough to demand and get away with) ...it is RARE they will ever lower a rent for an established tenant, even if trade has fallen...its a catch 22 situation for many..this is why the whole industry needs regulating in some way because its the greed of Pub Co's that are killing Pubs, above and beyond everything else..... Thanks:thumbsup: And the pub co's arent prepared to commit to a lower rent on the basis they might at least get a reqular income rather than lots of void periods? This i guess is because that will de-value the capital value of their property portfolio. I know that at the moment they are desparate for cash to service their massive bank loans, which is why they are selling a lot of property. There are bargains to be had, but not of course for the would be publican, as they're all sold with restrictions on the sale of alcohol.. shame.. Link to comment Share on other sites More sharing options...
goldenfleece Posted December 1, 2008 Share Posted December 1, 2008 There are bargains to be had, but not of course for the would be publican, as they're all sold with restrictions on the sale of alcohol.. shame.. There is some theory that such clauses in sale deeds are invalid, and cannot be enforced.....in fact, how COULD they actually be enforced anyway.... on another grim note Thirty-six pubs are closing every week. More than half the villages of England are now "dry" for the first time since the Norman Conquest and sales of beer in the pubs that are surviving are at the lowest level since the Great Depression. Last week Camra reported that it expected a "bloodbath" of pub closures following the traditionally busy Christmas period. It predicts 7,500 pubs to vanish by 2012. http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3491216/One-in-eight-pubs-could-close-over-next-three-years-as-recession-bites.html Link to comment Share on other sites More sharing options...
Ade65 Posted December 1, 2008 Share Posted December 1, 2008 My understanding - and it could be imperfect - is that Hawk Inns have a year-long deal with Enterprise, so though they are moving Hannah & Lee they will still have some responsibility for the pub until April, and so will be bringing a manager in to cover the period after Lee & Hannah move on.......but there's not likely to be goof served in that period, obviously no commitment to any form of improvement. Damn shame, L&H are a good fit for the pub. Link to comment Share on other sites More sharing options...
Singletrack Posted December 2, 2008 Share Posted December 2, 2008 I shall support Lee & Hannah until they leave, then I shall have to go elswhere I'm afraid. They have done a great job in a short time. Enterprise will get no more of my money after L & H have gone. Link to comment Share on other sites More sharing options...
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