STAR PUBS & BARS SUPPORTS LEASED & TENANTED PUBS WITH RENT CONCESSIONS THROUGH TO LIFTING OF ALL RESTRICTIONS
15 March 2021
Star Pubs & Bars invests a further £19 million in lockdown rent concessions to 21 June
Company’s total investment in rent support will stand at £62 million
With the Government’s roadmap out of lockdown for England now known, Star Pubs & Bars is extending its 90% rent reduction for pubs on core leased & tenanted agreements in England from 1 March to 16 May. Between 17 May and 20 June, when trading restrictions are then lifted, it will offer a further 10% concession, meaning pubs’ rent will average 50% in May. Thereafter licensees will return to paying rent in full.
This further investment is designed to provide confidence to licensees and ensure that pubs successfully reopen. It brings Star Pubs & Bars total investment in rent concessions to £62 million since March 2020.
Rent concessions will also be offered to pubs in Scotland and Wales once there is clarity from the Scottish and Welsh governments on reopening dates.
Star Pubs & Bars’ rent concessions will remain under review in the event of any Government policy alterations and additional Government support for the pub sector.
In addition to rent relief, Star Pubs & Bars is offering free Covid Safety point-of-sale materials, and a raft of reopening support including new training modules, trading insight, and supplier discounts to help licensees make the most of their outdoor space.
Lawson Mountstevens, Managing Director Star Pubs & Bars, HEINEKEN UK, says: “It’s a year since the first lockdown and I’m immensely proud of the resilience our Star colleagues and licensees have shown in the most challenging trading conditions we’ve seen in generations.
“If the Government sticks to its reopening roadmap plans, it should be a great summer as research shows the public can’t wait to get back to the pub1. We’ve invested significantly in rent concessions over the last 12 months to help ensure our pubs are ready and able to re-open to meet this demand.
“I firmly believe this pandemic will show the true partnership nature of the leased & tenanted model. From my conversations with our licensees, I know the vast majority have appreciated the support we’ve provided.
“Following the Chancellor’s support package last week, including the announcement of cash restart grants, the Government needs to look at the long-term sustainability of the pub industry. We are excited about investment opportunities across the UK and have a leading role to play in helping the country’s economic recovery and supporting the Government’s levelling-up agenda – but we need meaningful alcohol duty and business rates reform, as well as a long-term VAT cut on all sales across hospitality.”
Clement Ogbonnaya of The Prince of Peckham, Peckham says: “It’s hats off to Star Pubs & Bars, the support has been great. I know Pubcos get a bad rep, but during this period you came through for tenants like me. You provided continued support on rent and the flow of information on government regulations has been very helpful.”
Jackie Fairburn of The Hare & Hounds, West Ardsley, Yorkshire says: “I am really appreciative of the rent and general support I’ve had to date from Star Pubs & Bars. Even with that help I’ve been haemorrhaging cash over this last year. I simply don’t know how others without this level of support can survive.”