Grosvenor to fund Eat Out to Help Out extension through rent reductions
Participating tenants in Mayfair and Belgravia will continue to offer eat-in customers a 50% discount up to the value of £10 on all food and non-alcoholic drinks between Mondays and Wednesdays throughout September, and will subsequently be reimbursed by Grosvenor in the form of reduced rent.
Businesses already confirmed to participate include Kai Mayfair, Peggy Porschen, Comptoir, Pizza Pilgrims, and Mayfair Chippy.
“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," says Amelia Bright, executive director of Grosvenor's London estate.
“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."
According to data published by the Centre for London research and cited by Grosvenor, restaurant transactions in central London were 80% lower in mid-July compared to January.
Grosvenor adds this is compared to many suburbs, which have enjoyed a faster recovery and were seeing transactions at, or closer to, pre-pandemic levels.
The landlord also notes research published by BigHospitality's sister site The Morning Advertiser, which shows that of respondents dining out on the Eat Out to Help Out scheme, 60% wouldn’t have done so had it not been for the discount.
So far more than 64m meals have been claimed for under the scheme, which launched at the beginning of August and is set to run nationwide until the end of the month.
