Lease Agreement overview
The Lease Agreement has been designed to provide the opportunity for individuals to develop their own businesses, and recognises the levels of self-determination, self-investment and security that are needed to achieve this goal.
Through careful segmentation of the Greene King estate, Greene King has highlighted various destination style outlets that provide opportunities for specialist food and drink operators to develop fully their business skills.
The Lease Agreement
The Lease Agreement is a 15 or 20-year assignable agreement with a full 'tie' on all beers and ciders.
The Agreement is supported by a Code of Practice, a Customer Charter, a Specialist Support Programme and a dedicated team of professionals.
The Greene King Code of Practice supporting the Lease Agreement has been developed to achieve a greater consistency of daily practice. It also provides licensees with confidence in the agreement and in us.
Our Customer Charter is an ongoing commitment to maintain a consistently high level of quality, value and service attributes synonymous with Greene King.
The Specialist Support Programme includes the opportunity to gain financial reward for developing trade and offers relevant business support as well as guest beers.
The rent for every pub is calculated on the Fair Maintainable Turnover Model, assuming an appropriate and competent licensee. The turnover is based on all liquor, food, bed and breakfast, etc, with a percentage having regard to achievable profitability being applied in order to arrive at the rent. Rent reviews are carried out every five years and linked to RPI.
It is this mutual commitment and support that sets Greene King apart, and goes some way in explaining why we have such a great reputation within the industry. It highlights our commitment to support leased businesses.
A Greene King licensee is not only a successful publican, but also an ambassador for Greene King.
If you share Greene King's business ethos, you are a step closer to becoming a true partner in the business.
