Heineken-owned Star Pubs & Bars is investing a further £4m in rent reductions for its leased and tenanted pubs in September and October, bringing the total rent support offered by the company to £25m.
The company’s previous rent support had been due to come to an end at the end of August once pubs were open and trading and this latest concession is designed to help licensees continue to adapt to the ‘new normal’ trading environment.
The group said with pubs open and benefiting from government support such as a business rates holiday, VAT cut, loans and furlough scheme, the company was tapering its rent relief in September and October.
The company’s 50%, 75% and 90%-plus rent reductions will reduce to 40%, 55% and 70% in September and 30%, 35% and 50% in October.
Star Pubs & Bars managing director Lawson Mountstevens said, “We have invested heavily in helping licensees through these difficult times. Throughout, we have been transparent and consistent with the rent reductions we have offered. We hope this latest tapered rent relief will help licensees plan ahead as much they are able to and we’ll continue to review our overall support as we have done since the beginning.
“Now seems the right time to offer tapered support as the feedback from our estate has been encouraging overall, with consumer confidence growing and many licensees trading near to pre-lock-down levels.”
Pictured is The Seaglass Inn, Port Seaton.