Statement from James Lindsay, Chief Executive, Royal Vauxhall Tavern.
I would like to post comment for the avoidance of doubt in relation to the current RVT Future statement on Social Media and would like to clarify the Royal Vauxhall Tavern’s position.
Immovate are the owners of the property and my company is the tenant, therefore this creates a landlord and tenant legally binding agreement between Immovate and my company. I do not work for Immovate, my company leases the space and manages Royal Vauxhall Tavern. The manager, all staff employed at RVT, promoters and suppliers are engaged by my company and not through Immovate.
Over the last two years the company has been restructured and will shortly report on 30 June 2016 that the company will report the highest level of turnover in the trading history of Royal Vauxhall Tavern which has turned a loss making business into a commercially viable trading entity in both sales and profit.
The Intellectual Property, namely the Royal Vauxhall Tavern name, the RVT trademark, the goodwill of the business and any onward sale of the business as an ongoing concern belongs to my company. When Immovate bought the property in November 2014 under a share purchase agreement, they bought the building and not the business. My company also has the first right of buy back in any onward sale.