Effects of the Pandemic Within the Hospitality and Leisure Sector
The recent announcement regarding the closure of Manchester’s renowned Restaurant Bar & Grill by Individual Restaurants was another sign of the difficulties facing some parties in the hospitality and leisure sector. For many years, Restaurant Bar & Grill was one of the go-to places for celebrities and Manchester’s professional community. It joins a list of well-known names operated by larger restaurant groups that are no longer to be found in Manchester city centre and the Greater Manchester area.
Yet, at the same time as we see the closure of some high-profile bars and restaurants, we are witnessing an opportunity for smaller operators to thrive as customers seek out local, independent venues over the national chains. The pandemic has accelerated the trend of consumers preferring to spend their disposable income within their own community, with locally sourced produce a selling point.
Vacant Properties in Town Centres
A further factor assisting the independent operators is that many landlords in town centres now find themselves with vacant properties. More realistic rents and generous rent-free periods also contribute to the opportunities available for the smaller food and drink businesses.
At Myerson Solicitors, we have witnessed on our doorstep in Altrincham an increasing proportion of premises in the town centre being used for hospitality purposes. What started as a relatively modest food and drink offering has continued to grow and has encouraged others to take advantage of the increased footfall in Altrincham.
An Increase in Independent Venues
The resurgence of the town has largely occurred on the back of the independents rather than the national chains. Myerson Solicitors have acted for several such parties on a range of legal issues. In addition, we have advised a number of tenants in relation to leases for new food and drink premises in the Manchester area and beyond.
Taking on new premises isn’t always a straightforward process. For a helpful guide, see our Top Ten Tips for Tenants.
Here to help
If you would like any advice or assistance, then please get in touch with our Hospitality and Leisure Team on 0161 941 4000 or email the Hospitality and Leisure Team.