It will be interesting to see how the tied leasehold pub market will be affected if the Pubs Code Regulations 2016 come into force in May this year as anticipated. There is concern in the market that brewery landlords might seek to avoid the impact of the regulations by refusing to renew tied tenancies (relying on Ground G of the 1954 Act) where the tenant has exercised its right to take a market rent. Will this mean a shift away from leased pubs and towards managed pubs? Or will it mean the Regulations have no teeth as tied tenants will be too scared to exercise their right to a market rent?

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