Lincolnshire brewer and retailer Batemans has written to its tenants offering them discussions on going free of tie in the wake of the critical Bec report, writes Paul Charity.
The company, which wrote the letter three weeks ago, has not had a single tenant request a meeting to pursue the offer.
Managing director Stuart Bateman told his tenants: “There may be tenants of ours who wish to have the discussion about going free of tie with the resultant effect that the rent would revert to full market rent and we would be more than willing to have those conversations should any tenant so wish.”
The Wainfleet-based tenanted operator told its tenants that the company benchmarks its rents in tandem with Colliers.
Bateman told his tenants: “A recent benchmark exercise demonstrated that on average the rent payable, plus the “wet rent”, is around 20% below the market rent.”
