2548 Post(s)
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RE: Enterprise confident of Reit conversion

Stephen. if you check back over the last three years the Pubco rents have been pushed up to their limits and above. Surely it cannot have escaped anyones notice that by artificially raising the average rent levels this makes the datum for calculating increases in rents if(when) the tie is removed. All will agree that rents are artificially high.



I stated this would be the case some years ago when I also stated that the Pubcos would give up their ties. Add the beer profit to the base rent and allow you to buy where you will. They have successfully arrivesd at the artificially high base rent on to which they will add their profit loss for giving up the tie. You will then see how much they have made from you when they justify the increse in base rent.



I also said that they would also stay in the wholesale business utilising their corporate structure already in place to supply beers to you in your new free of tie pub..



Won't that be fun dealing with Enterprise and Punch wholesale Ltd.

Oh! and your brewlines will of course have to be paid for by you as a rental.



ken Nason

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30 Mar 2008 20:55
Stephen Corbett
174 Post(s)
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RE: Enterprise confident of Reit conversion

I disagree with you Ken. This new base rent platform was only arrived at due to the dishonesty of valuers and pubcos. In the event that the tie is abolished almost certainly the Pubcos would have enormous problems and effectively may be bankrupt.

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30 Mar 2008 21:43
Graham Allman
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RE: Enterprise confident of Reit conversion

Stephen , you realy are not listening or have an agenda based upon your own profit and dare i say , the same aquisation of dishonesty implied upon valuers and pubcos( for the record i am neither). If the tie is abolished , as it will be , then the freeholder will be able to charge full open market rents as per RICS criteria. The my boy , then you will have problems , but guess you allready know that ( your agenda).

This is still a great business to be in with lots and lots of hard earned profits to be made if you are any good at it ( that should stire things up).

You "doom mongers" have your own agenda and it is hurting the Mr Jo average who is trying to make a living out of their pub and dare i say it , still enjoying it. Look at Mr Jo average in the eye and tell them that you are trying to drive the value of their hard work into the ground and then tell them why , i dare you .You havnt got the courage because you have your own profit agenda dont you.

Its a great business , like all business not without its problems , but a change of government will solve most of that , then as for our "doom sayers" , get out of our great business and fly the "red flag" of jelously. We only want profesional "doers" not unprofesional "wingers".

As for "brewlines" we all know wholesalers who will install a by-pass for you in the broom cupboard if you buy your "out of tie" product from them and also cheat the tax man and lawfull tax payers out of thier just dues. ( that should send the rabbit running me thinks).

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30 Mar 2008 21:51
Gilbert Bank
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RE: Enterprise confident of Reit conversion
A good lunch, Graham?

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30 Mar 2008 23:07
Mark Dodds
275 Post(s)
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RE: Enterprise confident of Reit conversion

Graham "Mr Jo Average" (a transgender publican no doubt) obviously makes a killing running average pubs by juggling average talent and skills with average effort. Thus ever was the pub business: average people making an average living out of average premises.

If you allowed yourself to pause long enough to be frank with yourself, you would acknowledge that rics criteria when applied to pubs - as is quite obvious to any objective scrutineer of this industry - are based on the sort of pub worldview You espouse, itself better suited to comparisons with the best works of Lewis Carroll and Edward Lear than to Realty reality.

Gilbert; Graham just got off the Love Boat after lunch on Fantasy Island.

Reit conversion should be opposed at all costs. And rejected outright by HMRC. For obvious reasons.