SCPL Announce Heads of Terms for Tenancy Agreed
We are pleased to announce that we have reached agreement with our preferred tenants on the Heads of Terms for an initial five-year commercial lease on the Kings Arms Inn, Stockland.
The new tenants are a three-man team, Ben Walker, Tony Reps and a very experienced and successful local chef/restauranteur whose name we cannot disclose at this point in time for reasons of commercial confidentiality.
The Heads of terms has gone to our solicitor who will draw up the lease, and the target date for signing the lease is 29th November.
Our tenants are proposing to make some improvements to the pub in addition to the refurbishment that has already been carried out by our volunteers and contractors. This will bring the building to turn-key readiness for opening day, which should be in mid-January 2020.
The Management Committee had hoped that the pub would be open for Christmas. However, there are very good reasons for going for mid-January:
The new tenant team are committed to giving all customers a great experience from day one, and therefore want to ensure they are properly prepared before opening the pub. The fitting out works they wish to carry out, and difficulties in recruiting and training staff in the run up to the busy Christmas period are factors influencing the choice of opening day.
Tony Reps says:
“We are really pleased to have won the Tenancy of your fantastic local pub and look forward to meeting everyone at the launch party in mid-January. Please see our Facebook page ‘Kings Arms Stockland’ (live from 12th November) for updates as work progresses, opening dates and upcoming events.
All the best The King’s Arms Team”