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Saturday 4th September 2010
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TRUST INNS' TENANCY AGREEMENT
Trust Inns' Tenancy Agreement 9 year (Scotland)
Under review in 2008
Our nine year Tenancy Agreement is principally for those people who may wish to invest their own capital into the development and refurbishment of a public house.
The nine year Agreement becomes fully assignable after the first three years of operation - giving an opportunity to realize investment gains early in the pubs development cycle if so desired. The Agreement terminates at the end of the ninth year - there is no break clause.
The nine year Agreement is a full repairing and insuring lease, meaning the tenant takes on responsibility for the property as a whole - covering internal and external decorations and all structural repairs (including walls, roof and foundations). The other principal points are;
- A full tie on beers, ciders and minerals - as per the three year agreement.
- Property Insurance is as per the three year Agreement.
- Rent will be set at market rent taking into account your obligations under the nine year Tenancy Agreement and the beer tie - it will also reflect that a barrelage discount scheme is in operation.
- Rent reviews are three yearly in an upward direction only.
- Machines - as per the three year agreement.
The Code of Practice for Scotland is currently being updated. For a current copy please contact the Recruitment Department on 01257 238800
