What is a Tenancy?
A tenancy is probably the most cost effective way to enter the licensed trade as a self employed business person and the cheapest way of maintaining the business once in control. When you 'buy' into a pub tenancy, you will purchase the chattels inventory, that is the equipment that is being used to run the business, and the stock on site. You pay no goodwill for the trade of the house, nor can you sell any when you leave. You also have a landlord who will by and large be responsible for the 'bricks and mortar' aspect of the premises. Most tenancies will be tied to a supplier for certain wet stock products, although free of tie agreements are sometimes available. When taking over a tenancy, you will not normally need any other legal services, other than that of a broker such as ourselves.
|Tenancy||New issue Leases||Assignable Leases||Free of Tie||Freeholds|