Gerald Eve’s Manchester rating team is supporting the region’s brewery industry which has been hard hit by Covid-19.
The team has been instructed by Joseph Holt Brewery on Empire Street in Manchester to advise on the brewery’s ratings liabilities in the wake of the pandemic . They advise three of the four largest family brewers and pub companies in the north.
Commenting on the latest instruction Gerald Eve associate Roger Walker said: “Whilst individual pubs have been given a rates holiday for 2020/1 the breweries themselves are still liable to pay rates on their premises. Production levels have fallen dramatically with the closure of pubs so it is imperative that breweries review costs across all aspects of their estates including brewery sites and commercial premises to see where savings can be made.
“Given the restrictions placed on pubs we believe that the impact of Covid-19 has temporarily affected the value of the brewery estate and we will be seeking to ensure that is reflected in its rates liability. We are also mitigating liability for other family brewers we represent and hopefully once the issue is resolved a saving can be made for all clients.”
Phil Rowan, finance director from Joseph Holt, added: “The industry has effectively gone into hibernation since March and so we believe that it is reasonable to look at a rates review to support the viability of our business.
“The Government is starting to make plans for us to hopefully re-open soon at which point we can begin to rebuild our businesses, once the national situation improves. The hospitality industry is facing its greatest challenge for a generation and if it is to bounce back then we need the additional support now while our pubs remain shut.”
Gerald Eve has a long standing relationship with Joseph Holt acting for them across their managed and tenanted estate since 2008. This appointment further consolidates its position as one of the leading advisors to the licensed sector