Supporting Hooky tenants

BIIBAS

biibas  

Hook Norton Brewery is a member of the British Beer & Pub Association (BBPA) and, as such, we offer high standards of fairness and transparency to our tenants. This Code of Practice follows the pub industry Framework Code of Practice and is accredited by the British Institute of Inn keeping Benchmarking and Accreditation Service (BIIBAS).

As members of the BBPA, Hook Norton Brewery also subscribes to the Pub Independent Rent Review Service (PIRRS). The Code of Practice is not capable of being unilaterally altered and any amendments will be made in consultation with BIIBAS.

This Code of Practice sets out the principles that will be observed by the Company when offering pub businesses to rent and the obligations that are also required from our prospective tenants.

Both the Company and new tenants are required to sign a copy of this Code to confirm that both parties understand the terms and obligations set out. The tenancy agreement represents the main contractual agreement but this Code will have effect and may be relied upon by both parties in the event of any dispute.

Hook Norton Brewery recommends tenants seek advice before signing this legal document.

Download your copy of the code of practice Here

Pub Ownership – the choices

All Hook Norton Brewery pubs are tenancies, but for your information the table below examines the other options.
Questions Tenancy Freehold Leasehold
What is the difference? Rent the building, buy Fixtures and Fittings. You buy the business and building outright. You pay for the business, fixtures and fittings and rent the building.
Am I tied to a Brewer or Pub? Normally tied to pub brewer for all drink supplies but new tenancies may have a choice of wines. You own the business and trade as you wish. Normally tied to a Brewery for beer, cider and alcopops. The rest is up to you.
Who looks after the property? You are responsible for interior repairs and maintenance. The property is entirely your responsibility. The lease will make you responsible for all repairs and alterations.
What am I buying? Buying the Fixtures and Fittings, a figure is agreed by your valuer. The price is a mix of property and business value. The premium is for fixtures and fittings, existing trade goodwill and the value of the lease.
What is the rent and when is the review date? Rent is re-negotiated usually at the end of the set term after 3 years. N/A The rent will be reviewed at regular intervals, 3-5 years.
Do I need any qualifications? Not essential but useful to have the BII (British Institute of Innkeeping), Health & Hygiene certificates. Not essential but useful to have the BII (British Institute of Innkeeping), Health & Hygiene certificates. Not essential but useful to have the BII (British Institute of Innkeeping), Health & Hygiene certificates.
Do I need experience? Most pubs will have courses for the first time tenants. Not essential but if borrowing money lenders like to see some business knowledge. Not essential but most pub companies will have compulsory courses.
Are there any other costs to pay? The ‘ingoing’ quoted normally includes and estimate of stock, taking into account Brokers fees, working capital and security deposit. Stock is bought on the day of takeover. Other costs may be solicitor, licence, stocktaker, Stamp Duty and VAT. Security deposit, rent in advance, as well as stock on the day. Solicitor, stocktakers, stamp duty and licence.
Do I need a Business Plan? Yes – a 3 year Business Plan is needed. Contact Hook Norton Brewery for further information. Applicable if you need a loan from a financial institution. Applicable if you need a loan from a financial institution
Hooky Tenants at Hooky Diamond Awards 2011
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