Thwaites Lease
This is an agreement for experienced operators looking for a long term agreement with the opportunity to sell their own business.
This type of agreement is more popular for those licensees looking for a longer term investment with an opportunity to realise the goodwill built up over the term of the lease.
We are looking for enthusiastic, committed people who have a combination of good business sense and hospitality capable of making the most of what our pubs have to offer.
It is helpful, but not essential; to have previous limited trade experience and applicants should have sufficient funds available to invest in the business.
Applicants will be required to attend our induction course amongst which topics such as licensing law, Health and Safety, and marketing will be covered.
Summary
Term: 10/15/20 years. Variable subject to tenant involvement and investment.
Rent: Based on existing turnover, market conditions, tenant investment and barrelage targets.
Repair: Tenant is responsible for all internal and external repairs and decoration. Thwaites will either put the property in full repair or adjust the rent over the first 5 years to allow the incoming tenant to carry out the works.
Rent Review: Annual review in line with the R.P.I. plus formal rent review to market value after 5 years.
Tie: Full Tie.
Discount: Negotiable dependant on target barrelage.
Alienation: The lease is assignable after two years.
For further information visit our current vacancies.
or E.Mail tenanted@thwaites.co.uk
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