Tenancy Agreement overview
Greene King Pub Partners is committed to supporting its licensees with a broad spectrum of support programmes, including training, marketing and commercial initiatives. We review and update all these programmes regularly to ensure the support we provide is the support you need.
For example, the Greene King Charter of Excellence reinforces further the company's determination to deliver best practice business support.
In return for our commitment, we expect our licensees to make their business more successful and stand out from the crowd. Enthusiasm and a warm personality are essential, as are the basics such as keeping the property clean and tidy, and providing a smart, friendly and efficient service, the perfect environment for their customers. Running the business honestly and professionally guarantees a Greene King licensee is not only a successful publican, but also an ambassador for Greene King.
The Tenancy Agreement
The Tenancy Agreement is a five-year non-assignable agreement with a full 'tie'. It is enhanced by a Code of Practice, a Customer Charter and a competitive Business Support Programme.
The Landlord and Tenant Act provides both stability and security for the tenant.
The rent for every pub is calculated on the Fair Maintainable Turnover Model, assuming an appropriate and competent tenant. The turnover of the business is based on all income, which includes liquor, food, accommodation, etc. A percentage of turnover will be applied, having regard to the achievable profitability of the business.
Greene King sees no business sense in charging very high rents that leave no profit for the tenant. We charge a commercial market rent. Like all businesses, we need to achieve a satisfactory long-term return on the value of our assets. Rent reviews are carried out every five years in line with RPI.
If you share Greene King's business ethos, you are a step closer to becoming a true partner in the business.
