Business

Swansea Council steps in with second rent holiday for business tenants

Swansea businesses and other organisations that occupy scores of council-owned property are to be given an extra rent break to help cope with the cost of the firebreak.

The council’s Cabinet agreed the move at its meeting on November 19 and it means eligible tenants will get 16 more days rent free on top of the rent holiday they got during the main Covid-19 lockdown earlier this year.

The council’s rented and leased property portfolio is diverse and comprises a wide range of lessees and tenants.

The rent break will apply to assets based on a market rent basis, properties with a rental value under £51,000, private businesses only, businesses temporarily closed due to the closure of a council building, Swansea Market tenancies and street trading licences.

Those to benefit include enterprises ranging from street traders, small cafes and local sports clubs to small industrial businesses and all Swansea Market traders.

Robert Francis-Davies, Cabinet Member for Investment, Regeneration and Tourism, said: “We can all see that the business environment over the last eight months has been extremely challenging. The council has played a significant role in supporting them by ensuring they have had access to more than £100m in grant support.

 “Even so many of our tenants need further support and the 16-day rent holiday means they have one less thing to worry about in terms of the costs of closure due to the recent firebreak.”

David Hopkins, Cabinet Member for Delivery and Operations, said: “We want to assist and support our business tenants through this particularly difficult trading period.

“The rent reduction will have significant short-term financial implications for the authority of more than £100,000. However, the consequences of losing tenants carries a far greater risk.”


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