Tenancy Details

THE DEAL

Rent

We think our rents are fair and at the lower end of the spectrum; we aim to be no greater than 10% of fair and maintainable turnover. Within this cost we offer a fully furnished pub with the exception of plant and catering equipment although in many cases some original equipment is inherited on the inventory.  The rent is indexed to RPI annually on April 1st and is not subject to any other review*; if you do better than expected we do not review the rent upwards – just RPI increases.

*If a pub is let pre investment there are likely to be two rental figures – pre and post – depending on size of investment.

Tie and Discounts

You are tied to buying all draught and bottled beer and cider from the company.
Real Ales are all from Joule's Brewery - Joule's Blonde 3.8%, Joule's Pale Ale 4.1%, Slumbering Monk 4.5% discount

You are not tied on any other category, however we have negotiated as best we can for the group via Molson Coors; good terms for soft drinks, wines, spirits and other bottled products – in effect we pass on our entire discount to you, but you are free to take advantage of this or not – as you wish

Ingoing

You will need to fund all electrical equipment, catering equipment, and consumables – unbranded glass ware, stock and so on. The fixtures and fittings however are already in situ but you will be expected to maintain these, keep them clean and polished and generally take responsibility for keeping the pub in good order and reporting things to us which you are unable to fix. You will be asked for a £10k deposit to provide a form of security over an element of rent, beer and inventory, this is returnable to you. That is the extent of the ingoing. We can also arrange a financial build up scheme if you have the majority of the £10k bond but need to top up once you start trading.

Maintenance

All pubs are refurbished to a high standard* so the start point is good. After that the brewery is responsible for the structure of the building and the tenant for day to day upkeep.

*Newly acquired pubs will join the refurbishment pipeline program so the required standard will not necessarily be immediate.

Other Benefits

- Annual Premises License fee paid by the Brewery

- No licensing solicitor fees

- No hidden administrative costs

- No hidden cellar or technical support costs

- Close business support

- Business Insurance payable by the Tenant however the premium is well negotiated annually for the group.

Other Points of Note

Retail Standards – we do prescribe certain minimum standards which are laid out simply and have proven to be straightforward common sense over the years and never in dispute. The standards are agreed in advance of any appointment.

Menu Bank – we do list what we feel to be unpretentious, proper pub food menu items, but production method, presentation style and choice of items from the bank is of course down to each individual operator – the bank is agreed in advance of any appointment.

ALL IN ALL

We hope you have gathered that we are a small company which truly values its Tenants; we work closely with them and aim to offer a fair long term deal in the best tradition of the local brewers rather than the national pub co’s. Joule’s Brewery currently operates 18 core pubs all of which we are immensely proud. Should you wish to discuss recruitment opportunities don’t hesitate to contact us. Finally don’t hesitate to contact any of our Tenants to discuss the realities one to one. Should you like to know who has been with us for longest and knows us best we will happily guide you.