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Could you explain the situation a little more?
Hi Alex, I am a lessee of a large pub and have recently asked my landlords (a large Pub-Co) for a reduction in my rent, as I have been professionally advised that I am paying 'way too much rent'. I have had the meeting with the landlords who will not concede any reduction. They have told me if I appeal to the ombudsman they will win as they are a large company so don't bother taking it any further. How much would it cost me to 'fight the issue' should I ignore their threat, what are the time issues to consult the ombudsman and in the current climate, should I continue with my cause. I have had four meetings with national and local selling agents who specialise in sales of pubs, and they all agree that my rent is excessive at 13.4% of turnover when the national average for leasehold premises is between 8% to 9%.
Technically its not the Ombudsman, its the rent valuation Tribunal
The service itself is inexpensive
However if you are professionally represented that is where the cost is
It will cost you around £150 an hour for a Solicitor and if you are represented at the final hearing by a Barrister it will cost more.
So the cost is low to start, but more expensive to comply a professional
Can I clarify anything for you about this today please?
Do you consider it viable to take on Greene King for a rent reduction when they claim I will lose out if I chose to go to a Tribunal, because of the size of their estate portfolio. I am paying 13.4% of my turnover in rent whereas the national and local average is 8%. What do you consider are my potential chances of getting a reduction on a scale of 1 to 10. I won't hold you accountable to this request.
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