The latest rental survey by Fleurets has shown decreasing tied pub rents in many areas.
The statistics from Fleurets show in London 44% of rent reviewsin 2014 saw a decrease, the Midlands 82%, the North 33% and 53% in the South and the West.
The 30th edition of the annual survey shows a degree of consistency on tied rent averages throughout the regions, being between £45,000 and £48,000.
The report highlights the unabated growth being seen in the restaurant sector with operators increasingly expanding into the regions.
It also shows London property prices at record levels.
The report showed the average annual free-of-tie rent in London was £93,085 last year (up 25% since 2011), the average shell rent is £157,559 (+17%) and the average tied lease rent is £83,058 (+11%).In the north average free-of-tie rent in the north in 2014 was £47,593 (up 18%), a shell unit’s average rent was £69,774 (+3%) and an average tied rent was £45,021 (-23%).
See the full report attached.
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