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Saturday 4th September 2010
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- types of agreement
TRUST INNS' BUSINESS DEVELOPMENT LEASE
Trust Inns' Business Development Lease 10 yr (England & Wales)
The Business Development Lease (BDL) is ideal for lessees looking for a longer period of tenure and who may wish to invest their own capital into the development and refurbishment of the pub and redecorate externally on their own advanced cycle in order to enhance the business. The lease falls within the Landlord & Tenant Act 1954 and all lessees have the protection afforded by that Act. The principal points of the lease are listed below but for more details please see our Code of Practice
Key points:
- Tenure of 10 years
- Full repairing and insuring by the lessee
- Free of tie on wines, spirits and minerals
- Barrelage discount scheme of £60 “off invoice” for all qualifying Beers & Ciders.
- Assignable after 12 months
- Rent reflects market condition at the time of operation and agreement provisions.
- Rent will increase annually in line with the Retail Price Index (1st October)
- Rent is reviewed every 5 years.
- Income from all AWP/Pool/Multimedia machines is split 50/50 between the lessee and the company.
- Fund raising against the property is permitted if funds are for reinvestment into the building fabric for property enhancements.
For full details of the agreement please see our Code of Practice.
