For those who follow Kurnia Licensing on Twitter and Facebook you will already be aware of my plans to exit the retail side of the industry.
Over the past few years I have reduced the estate down to four outlets, three freeholds and one leasehold. The Cloud Bar in Lincoln is held on a free of tie private lease and we are looking to dispose of our interest in the Cloud Bar. The remaining three outlets are all based in Mablethorpe, Lincolnshire and we are looking to create new leases to suit a tenant so as to retain the freeholds within my companies existing rental portfolio that is made up of a mix of retail and residential units in Lincolnshire.
Six years ago I started up Kurnia Licensing Consultants and what started as a hobby, where I wanted a couple of dozen clients, has grown to over four hundred clients throughout England and most of my time is now spent on the consultancy side. Current changes in legislation that look set to come in this April, and further changes in the autumn, will see the consultancy requiring more of my time.
Although I may be exiting the retail side of the industry I shall not be leaving the industry, I have after all spent all my working life within the industry and feel it is one the best industries to work in. Retaining the pubs within our property portfolio will mean that I will be keen to assist our tenants so I guess I will become a very small pub landlord although my leases will all be free of tie and have none of the politics that some tenants may face and I might become a mini BDM.
Whilst it will be strange not operating pubs (once I find tenants that is) I do look forward to being able to divest most of my time to the consultancy side. We have a great team that work for the company on the pub side and I would like that them all for their contributions and hope most will remain at the sites with any new operator. Fresh minds in the pubs also will bring fresh ideas so the sites will only improve.
I have instructed Fleurets to look after the marketing of the Mablethorpe sites and details are available on their website.
http://www.fleurets.com Ref E-4440, E-4441 and E-4443
I guess I should use this opportunity to say as I might have some spare capacity on the consultancy side if you need any assistance in any legal matters please contact me.