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Star Pubs and Bars, which is part of the Heineken group, has announced its tenants will return to paying rent in full after lockdown restrictions are eased from 21 June 2021.
The group revealed it has invested a further £19m in lockdown rent concessions and has extended its 90% rent reduction for pubs on core leased and tenanted agreements in England from 1 March to 16 May.
Furthermore, between 17 May and 20 June, when trading restrictions are lifted, the company will offer an additional 10% concession, meaning pubs’ rent will average 50% in May.
Rent concessions will also be offered to pubs in Scotland and Wales once there is further clarity from the Scottish and Welsh governments on reopening dates.
Lawson Mountstevens, managing director Star Pubs and Bars, Heineken UK, said: “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.
“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.”
