Renting a pub?

maroon_jelly

Hello,

Hope this is the right board...
Myself and my partner are interested in renting a pub. I got a CCJ 3 years ago, so it's still on my credit rating and my partner has had problems in the past getting credit.

Anyone know if this will affect us?

paddyrg

If you will need a loan and don't have the cash to hand, it certainly will affect you I am afraid. As opposed to renting a pub, which is high risk/long startup period, how about going in as floating management for a brewery chain to build up some rapport with a pubco who may then do you a deal if you prove good?

chickmug

Regardless of whether you need a loan or not I used to deal with brewery chains that would just refuse to rent to anyone with a CCJ.

You need to come clean with the brewery and see how they feel but they may want additional up front rent or a guarantor.

Paddyrg suggesstion is a good back up thought.

Premier_2

I know of many property landlords that will not consider tenants if they have a CCJ.
Some may be prepared to consider such tenants more favourably if they are in a position to provide a guarantor (who obviously needs a better credit status)

jexygirl

We sold our last lease to a chap with an old CCJ and the landlords only agreed if he paid 3 times the deposit.

dazco

Breweries are desperate for tenants. You stand a much better chance now than at any other time.

DigForVictory

Please be very careful.

Are you now, and/or have you ever been a pub landlord or manager? Have you got any training in running one & can you get hold of any? Do phrases like brewlines, stocktakers reports, accountancy & VAT seem familiar & reassuring or new & awkward?

If you're tied to a pubco for beer, you will be paying roughly twice the independent rate. Most of the pubcos are property holders first & pubs fourth, cheerfully going through would be tenants & their credit with worryingly little help provided.

Paddyrg's suggestion is much safer for you, your finances & the pubco!

Sorry to be such an optimist, but a lot of pubs have gone & are going bump & whilst small businesses have to start somewhere, pub overheads are brutal.

diggerman123

and dont forget the costs involved in getting a personal licence . brewery / pubco wont pay for it ! (well over a grand)

dazco

diggerman123 wrote: »

and dont forget the costs involved in getting a personal licence . brewery / pubco wont pay for it ! (well over a grand)

It is well under £200.

diggerman123

if you can tell me wher i can get a FULL personal licence (including the visit to a magistrates and full police approval ) for under £200 then please tell me cos when my missus took hers it was a helluva lot more than that.

dazco

diggerman123 wrote: »

if you can tell me wher i can get a FULL personal licence (including the visit to a magistrates and full police approval ) for under £200 then please tell me cos when my missus took hers it was a helluva lot more than that.

http://www.inn-dispensable.com/course_details.asp?id=11

And the CRB check is about fifteen quid