;UK  Pubs For Lease
Pub Leases & Tenancies: 020 7644 2332

Pubs For Lease in UK

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.

These arrangements provide the Tenant or Lessee with freedom to run their own pub business, but with the additional support of an experienced Pub Operator.

Pub Leases, Pub Tenancies & Leasehold Pubs For Sale

Paramount Investments provide a full suite of licensed & commercial property services and offer pub chain, pubco, pub company, pub trade, brewing and brewery pubs, wine bars, hotels and restaurants for sale and lease in the UK

Paramount Magazine offers the latest UK pub chain, pubco, pub company, pub trade, brewing and brewery property news, returns, yields, forecasts, reports, surveys, trends, predictions & analysis and full listings of all pub trade and brewery industry media and media discussions including radio, television, pub trade magazines, pub newspapers,pub web sites, pub discussion forums, pub blogs, etc

The Paramount licensed property database is designed to help our clients view, research, buy, lease and sell freehold and leasehold pubs, hotels, restaurants and wine bars online.

Leasehold Pubs For Sale

UK pub sales agents - Pubs for sale in England, Scotland and Wales
UK Pub Sales Agents: Paramount pub sales agents offer pubs, hotels, wine bars, restaurants, public houses, night clubs, inns & taverns for sale in England, Scotland and Wales
closed, empty, run down, derelict & distressed pubs for sale
Run Down & Empty Pubs: Search lists of run down, derelict & distressed pubs, hotels, restaurants and other licensed properties for sale suitable for repair, redevelopment or renovation
Freehold pub sales, pub trade brewey, pub chain and pubco news, trends, forecasts
Pub Sales Market: Pubs, wine bars & hotels for sale, news on pub closures, freehold pub sales, pub trade news developments, brewey, pub chain and pubco asset valuations and disposals.
Pub estate agents selling pubs in England, Scotland and Wales
Selling a Pub: From licensed property service including free valuations of pubs to be sold, let or purchased and competitive commission rates based on success only
Commercial Property Agents: Commercial Property Investments For Sale in the UK
Buying a Pub: Expert advice on property investment for existing buy to let investors, first time investors, selling an investment, investor benefits, rental yields, best investment returns
Pub co, pub chain & brewery pubs for sale
UK Pub Sales: Pub co, pub chain & brewery pubs for sale in London, Glasgow, Birmingham, Manchester, Hull, Sheffield, Leeds, Liverpool, Bristol, Cardiff, Leicester, Newcastle & Bradford

Hotels, Restaurants, Wine Bars & Pubs for Lease in the UK

 

Paramount Investments are licensed property agents and valuers offering leasehold pubs, pub tenancies and freehold pubs for sale in the UK. Pubs are sold for a variety of alternate uses. Some continue to be run as pubs and many are acquired for their development potential and diverse number of uses. The investments team can advise you in all of these areas.

 

Leasing a Pub: References

When a new tenant enters into a lease, the landlord will normally require the provision of satisfactory references as a condition of the lease being granted.

In these circumstances, the tenant is usually required to provide references from a bank, an accountant and two trade references, although this may vary depending on each individual case.

Pub Lease Sales and Pub Lease Assignment

An assignment of a lease takes place when the tenant (assignor) transfers/sells to another person (assignee) their entire interest in the property for the unexpired residue of the lease.Section 52 (1) of the Law of Property Act 1925 requires that for the legal estate to pass to the assignee, then the assignment must be by Deed.Under the doctrine of "privity of contract", the original tenant remains liable to perform all the covenants in a lease throughout the term. Thus, if the lease is assigned to a third party, in the event that the new tenant defaults, the original tenant remains liable for the covenants contained therein.

In some cases therefore, if an assignee is found to be in breach of contract, the landlord is able to look to the assignor to seek redress; even though the original tenant has no control over the subsequent occupiers business.The Landlord and Tenant (Covenants) Act 1995 sought to address this issue and relieve the original tenant from such liability upon assignment. Modern leases granted on or after 1st January 1996 usually incorporate this change in legislation.

Pub Lease Incentives

An incentive is a payment or concession that often arises when a lease is first granted or subsequently assigned during the course of its term.

A common example might be where a landlord pays a new tenant a sum of money to take on a new leasehold contract.

This sum may be in the form of a capital contribution towards the tenants initial fit out costs. Or it might be in the form of rent free period or stepped rent until the first rent review date.

Pub Leases: Length of Lease

A lease is a legally binding contract between a landlord and a tenant which sets out the basis on which the tenant is permitted to occupy a property.The length of the term will vary depending upon the particular requirements of the landlord and the tenant and will be influenced by business requirements, investment strategy and general matters such as economic conditions.

In broad terms, the landlord will often seek to create a lease of between 15-25 years, whereas the tenant is more likely to require a shorter term of 5-10 years, particularly in times of economic and political uncertainty.

The lease length may also be influenced by the incidence of break clauses and the prospect of a formal option that might exist to extend the lease upon expiry.

Large properties, or those involving the tenant in significant investment in fit out costs, might attract longer leases in order to allow sufficient time for the tenant to recoup the initial costs of taking on the property.

Pub Leases: Break Options

A 'break option', 'break clause' or 'option to determine' is a clause in a lease which gives either the landlord, tenant, or both, a right in specified circumstances to terminate the lease before it's contractual expiry date. The break option will usually define the length of notice to be given by either party in order to operate it and any other conditions.

A break clause may also be subject to contractual or statutory financial provisions that need to be complied with in order for it to be legally binding.

In addition, it can also be linked to a pub rent review date and its subsequent operation may make "time of the essence" for the purpose of invoking the rent review provisions within a lease.

Pub Leases: Ground Lease

This is usually a long lease, granted at a ground rent but subject to an initial premium payment. A ground lease can vary in length from 30 years up to 999 years.

The principle of a ground lease is that the rent paid relates to the value of the land only.

The terms of the tenant's lease usually provide an obligation to develop the land. The building is then owned by the tenant, usually free of any rent.

Ground Rent levels vary from a peppercorn, i.e. nil rent, to a percentage of the open market rack rental value of the building.

Pub Leases: Expiry and Renewals

The Landlord & Tenant Act 1954 limits the way in which a business tenancy may come to an end.

Thus a tenancy that falls within the provisions of the Act, will not come to an end unless it is terminated in accordance with the provisions set out in the Act.The statutory methods of terminating a lease are set out in Part II of the 1954 Act. Namely:-(i) by a Landlord's notice under Section 25(ii) by a tenant's request for a new tenancy under Section 26, or (iii) a tenant's notice to quit under Section 27.

The landlord and the tenant must comply with the provisions set out within these various notices, since failure to do so could result in the loss of the automatic right for a new tenancy.

There are also strict procedures to be followed during the interim period between the expiry and grant of a new lease, either by negotiation or through a court.

Pub Leases: Schedule of Dilapidations

This is a list of outstanding repair and maintenance items, that a landlord has assessed have accrued under the terms of a tenant's repair and maintenance obligations.It is often served by the landlord at the end of the lease in the form of a "Terminal" Schedule of Dilapidations.

The tenant is obliged to carry out the outstanding works listed in the schedule or pay damages which represent the cost to the landlord of doing the works.The items in a Schedule of Dilapidations are often the source of dispute between the landlord and the tenant and a court will ultimately decide upon the relevance or otherwise of the contents of the Schedule.

In certain situations the tenant is entitled to relief from the obligations set out in a "Terminal" Schedule of Dilapidations, as provided for by Section 18(1) of the Landlord and Tenant Act 1927.An "Interim" Schedule of Dilapidations can be served by a Landlord during the course of a tenancy, specifying outstanding works of disrepair that need to be attended to whilst the tenant is in occupation.

Relief from complying with the obligations of an "Interim" Schedule may also be available in accordance with the provisions of the Leasehold Property (Repairs) Act 1938.