Tenancy Agreement
Tenancies are fairly short term agreements, where the tenant buys only the fixtures and fittings, glassware and stock and pays a rent for the property. A security deposit is usually required which is usually approximately 3-5k which is used to offer credit terms, however this is refundable at the end of the tenancy term provided there is no debt on the account. The tenant must comply with the purchase agreement, in most cases free of tie for wines, spirits and minerals and tied for draught and packaged products, however with competitive barrel discount on tied products.
Tenancies are non assignable, so tenants cannot sell on any business interest at a profit.
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