Register now to receive regular email or text updates when new pubs to let come onto the market and get the latest news from Star Pubs & Bars. It’s free and puts you under no obligation.Register
Star Pubs & Bars continues rent support for leased & tenanted pubs in line with new tier structure
Star Pubs & Bars invests £5 million in December rent concessions
Company’s total investment in rent support now stands at £40 million
Following on the company’s zeroing of rent in November, Star Pubs & Bars is investing a further £5 million in continuing rent concessions in December to support its pubs on core leased & tenanted agreements. The move takes Star Pubs & Bars investment in rent reductions to £40million since March.
This latest support has been devised in line with the new tiered system in as fair and equitable a way as possible. The following reductions are being offered to reflect tiers in England, with similar support aligned to pubs facing restrictions in Scotland and Wales:
- Tier one licensees are being offered a 30% rent concession, leaving 70% payable.
- Tier two licensees are being offered a 75% rent concession, leaving 25% payable if they choose to open or a 90% rent concession leaving 10% payable if they close or if they operate as a takeaway only.
- Tier three licensees are being offered a 90% rent concession leaving 10% payable if they close or if they operate as a takeaway only.
Star Pubs & Bars’ rent concessions will continue to remain under constant review, and will depend on any Government policy alterations such as changes to tier restrictions and additional government support for the pub sector.
Lawson Mountstevens, Managing Director Star Pubs & Bars, Heineken says: “We are doing what we can to support our licensees through hugely challenging times, but the pub industry needs real meaningful Government support to counter the draconian unjustified restrictions being imposed on it.
“The Prime Minister’s announcement of a derisory £1,000 compensation for wet-led pubs is, quite frankly, insulting to pubs across the UK. Pubs have invested millions in creating COVID secure environments and our industry has been thrown under a bus by this latest announcement. Failure to provide an adequate safety net will decimate many pubs and the communities they serve, as well as leaving lasting scars on those able to trade. We have been unfairly singled out with punishing restrictions which ignore the evidence that show pubs are safe environments. We urgently call on the Government to show leadership and put in place an action plan to help rebuild the pub industry in 2021.”
Pub vacancy alerts
Want to know more?
To download our no nonsense guide to running your own pub click below.Download