This Month's Articles: A wise investment , A little something goes a long way, Asbestos - Britain's biggest workplace killer, Entering this year's Pinders Healthcare Design Awards |
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A wise investment? |
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Two recent articles in the Morning Advertiser on the subject of pub investments make for an interesting comparison. |
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The first is a short article regarding a small pub investment opportunity, whilst the second is the news that Enterprise is planning a sale and lease-back on a number of its 'top quality' freehold pubs, with a view to possibly selling up to 100 if successful. |
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The theory behind the pub investments is perfectly sound and is akin to all other standard forms of property investment, in that an appropriate yield is placed on the rent, based upon a variety of factors, principally relating to the security of the rental income and covenant strength of the tenant. |
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Where it becomes interesting is that, according to the Morning Advertiser, one of the people involved in the small pub investment deal is the brother of Paul Kiely of the former Provence Pub Company. It will be remembered that Provence followed a similar scheme to London & Edinburgh Inns whereby pubs were sold at auction with Provence or London & Edinburgh, or one of their respective subsidiaries, as head tenant, paying rents that, as we advised some Banks at the time, were not always sustainable. Eventually the pack of cards came tumbling down, but not before some individuals and their backers had significantly overpaid for some pubs. |
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We would of course stress that we are not suggesting that Enterprise Inns is following this route: merely that it is an opportune time to remind any investor or backer that the key element when considering such deals is the sustainability of the rent being paid and what would happen if (whether a big "if" or a little "if") the tenant finds themselves unable to pay and you are saddled with a property that you are then responsible for re-letting. |
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This sustainability of the rent is, we would suggest, far more important than the perceived covenant strength of the tenant because, whilst they may have a plc/listing, as we all know to our cost in recent months, share prices can go down as well as up. |
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| Article by Pinders Director Malcolm Kidby |
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A little something goes a long way...
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With November being the month of 'Children in Need' day, it is difficult to avoid being reminded that 'our support really makes a difference to the lives of disadvantaged children and young people in the UK'. |
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| It is also worth remembering that the care sector provides an important base for such children, often providing homes where families are no longer able or willing to do so, sometimes for the most tragic of reasons. |
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However, despite the excellent care provided by such homes, the recent report, Care and Prejudice, by Children's Rights Director for England, Dr Roger Morgan, published in August suggests that almost half of children in care worry about other people knowing their background, mainly because they fear being judged, bullied or treated differently to others. |
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Based upon the views of 362 children selected at random from children's homes and foster care throughout the country, the report highlights the experiences and feelings of children and the prejudices they feel that they face as a result of being in care. The most significant worries are those concerning other children and young people, future employers, possible landlords and what attitudes they may face if it is discovered that they are from a care background. |
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As many of us are involved with other children and young people, or may represent future employers and possibly landlords, perhaps our support really can make a difference to the lives of disadvantaged children and young people in the UK - although it isn't necessarily just a matter of how much money we give. |
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| Article by Pinders Director Steve Marriott |
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Asbestos - Britain's biggest workplace killer! |
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35,000 Britons have died from Mesothelioma (a form of lung cancer related to exposure to asbestos fibres) between 1977 and 2007, and the annual rate of deaths is increasing. A quarter of these are tradesmen exposed in the performance of their trade. This, by implication, means that three quarters are not, a percentage of which are people being exposed to Asbestos in their daily environment! |
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If repair and maintenance work is undertaken without informed management and a compliant Type 2 or 3 Survey, it can potentially lead to asbestos fibres being released, and anyone thereafter breathing them in. It is also a criminal offence under The Control of Asbestos Regulations 2006 not to have an Asbestos Management plan in a place of employment. Sadly, there is nothing that can be done to stem the tragic loss of those people who were exposed to asbestos in the past, but there are measures that can be taken to prevent it continuing. |
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The Health and Safety Executive is launching a month long campaign in November, to raise awareness of the risk that Asbestos continues to present. For more information visit the Hidden Killer campaign. |
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If you do not have an Asbestos Management Plan and/or compliant survey in your workplace, please contact Pinders for a competitive quotation. |
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| Article by Pinders Director Simon Coats |
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Have you thought about entering this year's Pinders Healthcare Design Awards? |
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The prestigious Awards are now entering their second decade and the 2010 Luncheon will once again be held at Lord's Cricket Ground in early spring (date to be confirmed), where we expect up to 500 guests to take the opportunity to network with some of the biggest names in the industry. |
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Entry to the Awards is free, and the process is very straightforward. Simply provide a description of the Project, a brief outline of what you were aiming to achieve and a selection of photographs. |
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While the official closing date for completed applications is 30 November 2009, this date is flexible and should you require more time we would be pleased to discuss an extension. |
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There are six Award categories, each of which seeks to acknowledge the contribution made by home owners, designers and architects to the well-being and quality of life for those in their care. The categories encompass all aspects of care provision, including developments for the elderly and infirm as well as specialist homes for those with disabilities, and care establishments of all sizes, types and locations are encouraged to take part. |
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Whilst architectural standards and innovation are key factors, the overriding test for any project has to be the degree to which it has recognised the needs and desires of the residents and incorporated these into the final design. The judges look to reward quality of care, achieved through quality of design, rather than design alone. |
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Every Finalist will receive a framed commemorative certificate and £500 towards a Charity of their choice. The Winners in each category will receive an additional £1,000 for their Home along with extensive coverage of their achievement in the Trade Press. |
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Further information can be found here, or you can click here to view and download an Entry Pack. |
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If you need assistance, please feel free to contact Jon Chapman or Barry Byrne on 01908 350500. |
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