NEWSLETTERGoodwill & Its DenialThis one straightforward little word sticks in the craw of every single Pub Co bar none and indeed all of their hired ‘experts’… What is it ?… Goodwill of course. Before we open up this can of worms, we need a definition. We turned to the Valuation Office Agency and their standard… Read More »
NEWSLETTER Sadly names and Companies are not available, this is another reason why any pub Lease has no security, if even vaguely successful without very expert legal advice. The “Roses round the Door” are a fantastic temptation, but the “Pitfalls inside the Door” are something else. “Thought I Had Better Tell You, “Barrel-Dregs at it’s… Read More »
Don’t Say We Didn’t Warn You! Oh, what a tangled web we weave, well you know the rest ! An all too familiar story has been presented to us in recent months by a number of tied pub tenant clients scattered around the country all attempting to exercise their Market Rent Only (MRO) rights under… Read More »
Landlord launches legal action against hospitality tenants over unpaid rent 01-Feb-2021 By James McAllister Burger brand Five Guys and café chain Caffe Concerto are both facing legal action over unpaid rent after one of their landlords filed respective county court claims against each operator. HTTPS://WWW.BIGHOSPITALITY.CO.UK/ARTICLE/2021/02/01/LANDLORD-CRITERION-CAPITAL-LAUNCHES-LEGAL-ACTION-AGAINST-HOSPITALITY-TENANTS-FIVE-GUYS-AND-CAFFE-CONCERTO-OVER-UNPAID-RENT-CORONAVIRUS-LOCKDOWN
My letter to the RICS who acknowledged it and said someone would contact me, which they did not. I have for many years been involved in buying small businesses and vacant commercial property, setting them up and selling them on. I have also had a number of meetings with Inland Revenue Valuation Officers, going back… Read More »
Rent Valuation Allowances The accepted method of the calculation of rent during the continuation of the pandemic is to adopt the last known pre covid-19 accounts (generally 2019 but some early 2020) and then make an allowance for caution looking forwards. There are two very distinct schools of thought which produce very different results. METHOD A This is… Read More »
Pandemic Duration – The Reality The nation is now entering a critical phase in dealing with the ongoing pandemic, namely the roll out of the vaccination programme and the continuing lockdown and eventual easing of restrictions. Vaccination has been misinterpreted by the POBs as being a definitive be all and end all cure to all of… Read More »
Cometh the Hour…Cometh the Loss Adjustor Wonderful news that the Supreme Court has generally found in favour of all those many tenants who in good faith insured against loss of business and whose claims were refused. The struggle has been a long and expensive battle. It was won in the lower courts but the contested… Read More »
Industry welcomes the further extension to furloughThe industry has welcomed the extension of the Job Retention Scheme (JRS) by another month until the end of April next year…. Read more Deltic bought out of administration by Scandinavian nightclub groupLate-night bars and club operator Deltic has been bought out of administration by Scandinavia’s largest nightclub club REKOM… Read More »
Interpretation of an MRO Application by EI Group Ltd.Let’s start with what the Code requires and then how things can get out of hand in “interpretation”. The Regulation 30 in the Code governs “Terms and conditions required in proposed MRO tenancy”. Short and sweet and says not very much. This is followed by the much… Read More »