Free of Tie Lease Opportunities – Ei Commercial Properties
Ei Group’s commercial property arm manages a developing portfolio of assets which it leases to third parties on commercial property terms. The portfolio incorporates assets originating from the pub estate, but for which returns are optimised either by converting them to an alternative use (such as a convenience store), or through lease for pub use on a commercial free-of-tie basis.
Our tenants include household names like Coop, Paddy Power and The Restaurant Group Plc, as well as independent public house and restaurant operators.
Frequently Asked Questions
Does it have to be a Pub?
No, there are many properties that would be suited to conversion to a non-pub use. This includes restaurants, retail premises, fast food, Convenience Stores etc. All proposals will be considered on their merits.
Summary of Lease Terms
- Free of tie, commercial lease available for 10 or 20 years
- Fully protected under Landlord and Tenant Act 1954, with the right to renew
- The Lease may be assigned after the end of the first two years
- You have full responsibility for all repairs
- You are required to insure for, contents, employee and public liability and business interruption
- Rent will be agreed by negotiation and paid quarterly in advance
- The rent will be subject to annual increase in line with the Retail Price Index and also an upwards only open market review will be conducted every 5 years
- A bond of 3 months rent is payable
- You will need to purchase the Fixtures & Fittings at cost
For full information about the standard lease terms visit fot-heads-of-terms.pdf
How do I apply?
You will need to complete an Application Form and a Business Plan. You can obtain the application form from your local Fleurets office
What should be included in my business plan?
A good business plan will include 4 elements: -
- Strength Weakness Opportunity and Threat analysis.
- Budgeted cash flow forecast.
- Budgeted profit & loss accounts.