Argent's decisiveness has been 'a ray of sunshine' says Harts Group

Harts Group director Crispin Somerville has welcomed the announcement of a three-month rent holiday for tenants at Coal Drops Yard as as "ray of sunshine".

Somerville told The Caterer: "Our landlords, Argent, have responded unhesitatingly in the face of this challenge. What has been most impressive is their proactivity in proposing a solution, as opposed to waiting for us to explain the unique and critical situation in which we, and doubtlessly our neighbours, find ourselves in. James Rayner initiated the response and Argent's decisiveness has been a ray of sunshine in this otherwise relentless shitstorm."

Landlord and developer Argent confirmed a three-month rent holiday for all tenants at Coal Drops Yard in London’s King’s Cross starting from 25 March.

The rent holiday, in a response to the impact of the coronavirus crisis, will be welcomed by many other food and drink operators in the development including restaurant groups Casa Pastor, Bodega Rita’s and Barrafina.

James Rayner, retail lead for King’s Cross, said: “These are unprecedented times and while many businesses can adapt to the Government’s social distancing measures by asking staff to work from home, for our retailers, restaurants and cafes the effects are more profound and many have had to close their doors.

"We know that these businesses are going to feel the impact quite significantly and we want to support them through this period. We really hope that the public will continue to support them, whether that’s through their online stores or by engaging with them on social media. We and all the businesses at King’s Cross and Coal Drops Yard look forward to welcoming people back when we’re able to do so.”

Coal Drops Yard, a £100m shopping and restaurant complex in London’s King's Cross, launched in 2018 in historic buildings and arches adjacent to Granary Square.