Star extends rent reduction
Star Pubs & Bars is extending its 90% rent reduction from 1 March to 16 May.
Star Pubs & Bars is extending its 90% rent reduction for pubs on core leased and tenanted agreements in England from 1 March to 16 May.
Between 17 May and 20 June, when trading restrictions are lifted, the pubco has said it will offer a further 10% concession, meaning a pub's rent will average 50% during the month of May. Thereafter, licensees will return to paying rent in full.
The announcement brings Star Pubs & Bars' total investment in rent concessions to £62m since March 2020. The 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 is offering free Covid-19 safety point-of-sale materials, new training modules, trading insight and supplier discounts to help licensees make the most of their outdoor space.
“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," says Lawson Mountstevens, managing director Star Pubs & Bars (pictured). “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 pub.
“Following the chancellor’s support package, 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.”