Pub Leases and other agreements
In order to run a pub you will no doubt enter into an agreement with the brewery or pub owner. This agreement is called a lease or tenancy, if its the first time you’ve ever seen one how will you know if it will help or hinder your intended success?
Tenancies and Leases are commercial arrangements whereby a Pub Business, including the building and curtilage, is let to a party, whether it be an individual, partnership or limited company. The terms of the letting are incorporated into an agreement, which includes details of trading arrangements, property repair responsibilities and other legal requirements for both parties.
There are a number of important things to be aware of:
- MRO legislation may apply to your agreement – see do not factor these costs in, which are, arguably, just as important, if not more so, that the renovation costs. Good legal advice can provide substantial savings in the long run and can ensure that the interests of both parties are protected and not weighed heavily in favour of the pub companies.
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Be sure to read the Pubs Advisory Service’s guidance on 45 Questions to ask a Pub Company