Grosvenor Britain & Ireland are to fund an extension of the government’s Eat Out To Help Out initiative through to the end of September. The support from the landlord to Mayfair & Belgravia restaurants will be reimbursed by Grosvenor in the form of reduced rent.
Participating tenants will be able to continue offering half price meals, up to the value of £10, every Monday to Wednesday.
The hugely popular scheme attracted over 85,000 participants with 35 million meals served in its first two weeks, supporting jobs in the hospitality industry and wider local economies.
Amelia Bright, Executive Director of the London Estate, Grosvenor Britain & Ireland commented: “Eat Out To Help Out was a huge boost to the economy and gave people confidence in socialising again. But Central London is not yet back on its feet.
“We’re doing all we can to bring people back to the West End to enjoy its world class retail, beautiful architecture and fantastic restaurants. From Michelin starred meals to the local fish and chip shop we have something for everyone”.
Restaurant transactions in central London in mid-July were 80% lower than in January. This is compared to many suburbs which had enjoyed a faster recovery and were seeing transactions at, or closer to, pre-pandemic levels+.
The impact of the scheme shows that circa 60% of people dining out wouldn’t have done so without the incentive of the Eat Out To Help Out initiative.
Jamie Jones, Operations Director of the Mayfair Chippy added: “The Eat Out to Help Out scheme has had such a positive impact and has boosted food and beverage sales as planned. The West End is extremely quiet at present so we are so happy that Grosvenor will be continuing with their own version of the scheme to help restaurants, cafes and customers alike. Thank you Grosvenor for your continued support.“
Extending Eat Out To Help Out is the latest in Grosvenor’s programme of support for affected local businesses and communities. Between April and July, the landlord waived rent for hundreds of retailers, cafes, restaurants and charities and continues to support businesses and retail destinations as they reopen.
This step by Grosvenor is one that we very much applaud, a great example of a landlord pragmatically supporting tenants.
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