Rent holiday17 Jun 2020 11:27
This suggests an interesting possibility. It would be excellent for NRR with their pubs. Guaranteed 66% rents. I think that is far above what the current price of NRR.
"Rent furlough scheme?
Meetings were apparently held last week, between the hospitality sector, and the Govt. A scheme has been mooted for the Govt to intervene with top-up payments towards rents, for businesses which were forced to close, such as bars & restaurants. If agreed, this could provide a badly needed boost for closed pubs/cafes/restaurants, etc. I think the Govt clearly needs to act, to prevent millions of jobs being lost imminently. The suggestion is that tenants pay one third of the rent, landlords waive one third, and the Govt picks up the other third. That makes complete sense to me, this needs to be done asap. IF it is, then expect a nice boost for the hospitality sector. Although I’m not sure if this will be agreed or not".