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S&N launches new lease agreement
Scottish & Newcastle Pub Enterprises' is to add 179 pubs to the franchise estate and launch a new lease agreement. The company says its new agreement has been created for all new franchisees and incorporates rolling agreements and assignability. Lease lengths have been refined, with leases in England and Wales being changed from five fixed term years to three years rolling and in Scotland leases have been increased from five years to six. After conducting research S& N Pub Enterprises says it has revealed that assignability is 'something that is seen as adding value to the lease agreement. The company says franchisees who have invested in their business can reap additional rewards through the assignability option after two years. Martyn Gray, marketing director, says the company is confident that the franchise scheme was a robust offer as the figures speak for themselves: The number of pubs under the scheme is set to rise from around 400 at the end of November 2000 to over 600 by the end of 2001.
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