Commercial Property Advisors (CPA) supports the hospitality industry's call for an extension of business rates holiday, due to an incredibly tough trading climate.
With much uncertainty surrounding the removal of restrictions on trade, its full implications and sustainability at a moment of rapidly rising Covid infections , together with an understandably nervous and cash-strapped public, all signify a tough summer ahead for our pubs.
Against this grim backdrop, a 66% discount on business rates seems inadequate. And if increased infections provoke a return of "The Rule of Six", it is estimated that only 56% of former trade will return.
To compound the problem, the last financial year saw hospitality shed half of its staff, with a further 540,000 jobs said to be at risk.
Non-domestic rates reduced as a result of well-argued appeals may provide some relief, says CPA, which is chalking up some successes in winning substantial savings for its clients.
In the competitive struggle to win back custom, hospitality managers need to entrust surveys and the minutiae of appeals to proven, RICS- regulated specialists.
CPA's offer of a free consultation should be carefully considered, together with its competitive and totally transparent no win no fee terms, no commission being payable until the client has successfully banked full savings.
To help the hospitality industry survive in these tough times, CPA's team of Personal Advisors welcomes the chance to speak with businesses at any time.
Comments