Star Pubs & Bars is investing a further £5 million in continuing rent concessions in December to support its pubs on core leased and tenanted agreements in line with Scotland’s tiered system.
The move takes Star Pubs & Bars’ UK investment in rent reductions to £40million since March and here it is broken down:
- Tier zero licensees are being offered a 30% rent concession, leaving 70% payable.
- 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.
- Tier four 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, say the company, 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 said, “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.”
Pictured is Star Pubs & Bars newly refurbished Spateston Inn.
