We offer a range of agreements with terms that depend on the commitment you want to make. Some agreements give you flexibility so you can run things how you wish, others have set Operational Procedures and extra levels of support.
Our agreements provide differing opportunities, with varying ties and pricing options, which we can discuss with you in more detail when you get in touch or meet with one of our Business Development Managers. Alternatively, come along to one of our events either in a pub or at our brewery, and experience first-hand our award-winning brewery and passion for pubs.
OUR STANDARD TENANCY AGREEMENT
This is a five-year fixed-term tied agreement which is contracted out of the Landlord and Tenant Act 1954. Rent is set at the start of the agreement and is subject to the annual Retail Prices Index (RPI), which is capped. While Greene King is responsible for the structure of the building, you’ll have the responsibility to keep and maintain the property. This agreement provides the ability to end it at any time with only six months’ notice and payment of a standard notice fee equal to three months’ rent. You will not be required to purchase or rent gaming machines, although we can support you with expert machines advice and supply if you wish.
OUR STANDARD LEASE AGREEMENT
Our fully repairing and insuring lease, ranging from 10 to 25 years, is fully protected under the Landlord and Tenant Act 1954 with rights of renewal. It’s subject to five-yearly open market rent reviews and the annual Retail Prices Index (RPI), which is capped. You have the ability to sell the agreement (known as ‘assign’) after two years, and you will not be required to purchase or rent gaming machines.
OUR MANAGEMENT AGREEMENT
Our management agreement, known as Pub Ready, provides an alternative way to run a pub business without all the risk and big entry costs. You run the pub on our behalf and we have the liability for the property, paying all the running costs including stock. We also supply marketing, training and ongoing support. You’ll just need to pay staff wages, your liability insurances and council tax for the living accommodation. We’ll pay you a Management Fee of £20,000 so you’ll have a guaranteed income and you can earn bonuses based on business performance and standards audits.
We regularly review our agreements to ensure they remain appropriate and competitive in the marketplace. While our standard tenancy and standard lease are our principal agreements, we do have other agreements available, subject to the pub, style of business and operator. Our Business Development Managers will happily discuss these with you.