Supplementary memorandum from the Royal
Institution of Chartered Surveyors (RICS)
It is obvious to us that the Select Committee,
and industry, expect the RICS to take the lead as an independent
body in helping to resolve some of the conflicts that exist in
the pub industry. This includes creating a clear and transparent
environment to reduce conflict and enable fair and equitable rents
to be set within the industry.
REVISED GUIDANCE
FOR CHARTERED
SURVEYORS
One of the main recommendations of the independent
RICS PUBCO Forum which reported in October last year was the need
for a thorough review of guidance on the rental valuation of pubs
(Valuation Information Paper No2).
RICS set up a working group to produce revised
guidance and the first meeting was held last week, with the second
scheduled to take place on the 11 February.
This group has two parts to it. Firstly, RICS
asked TRVG members Martin Willis of Fleurets, Gareth Jones of
Colliers CRE and David Butters of Gerald Eve to take the specific
recommendations from the Forum and to start work in producing
a working draft.
Secondly, RICS has populated the working group
with surveyors representing other industry stakeholders, including
Fair Pint and the BBPA.
RICS is also seeking to engage with other interested
industry parties and seek further input on the final drafting
before the revisions go through the wider consultation process
and presentation to the Valuation Standards Board.
CODE OF
PRACTICE AT
RENT REVIEW/BENCHMARKING
DATA
A wider group have been invited to input into
a free standing code of practice for surveyors acting at rent
review and lease renewal, and for proposals to recommend a set
of some key financial variables for benchmarking data in the sector.
Scheduled meetings with several parties who
believe that they may have an answer to the benchmarking topic
are due within the next few weeks.
VIEW OF
INDUSTRY ACTION
RICS welcomes the general industry efforts to
change the environment in which it currently operates, such as
the ALMR scheme, the BBPA Code and other initiatives from pub
operating companies.
We understand also that a few cases have now
been referred to the ALMR arbitration scheme and if this produces
some good results for both parties it may grow into a similar
service that is not unlike the RICS Dispute Resolution Scheme.
29 January 2010
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