11 Jun 2020
Hondo Enterprises today announced a three-month rent holiday for all 119 of its Brixton Village and Market Row tenants in response to the unprecedented challenges their businesses have encountered over the past few months.
The hospitality and retail sector has faced significant hardship since lockdown was enforced at the end of March, with many traders having to temporarily close down operations for staff and visitor health and safety. Now, with the ease of lockdown in sight, Hondo Enterprises has confirmed financial aid to give traders the confidence to re-open to the public on 15thJune.
As one of the first retail landlords to offer this level of support in the country, Hondo Enterprises have also made clear that they are keen to understand each individual trader's business plan moving forward after this rent-free period. The group has committed to offering operational and business counsel, working with tenants to understand their long-term business plans including further measures and support that might be required from the landlord.
Following the enforcement of the lockdown in March, Brixton Village management and the owners of the Market, Hondo Enterprises have been working in conjunction with all traders to ensure their financial and physical health is as secure as it could be. This included implementing social distancing guidelines, increased cleaning protocols and additional security. Hondo Enterprises has also worked closely with Lambeth Council so that all traders who required a government grant of between £10,000 and £25,000 has received one as quickly as possible.
Brian Danclair, Owner of Caribbean restaurant Fish, Wings & Tings says: 'We are very appreciative of the kind gesture to grant three months of rent due to the uncertainty and hardship caused by the pandemic. I am sure all of Brixton Village's traders and will be extremely relieved to receive this.'
The Market will open on Monday 15 June, with social distancing and hygiene measures implemented across the c.65,000 sq ft marketplace. New plans include new signage across the market, entry posters, floor markers and informational wayfinding to help visitors navigate safely around the Market, once non-essential shops reopen.
Taylor McWilliams Hondo Enterprises said “When the lockdown was announced we wrote to everyone in the Market saying that our main priority is to ensure that no trader is forced to close their businesses in these unprecedented and uncertain times.
We want to thank all the traders and staff who have continued to serve the community during this period. Everyone connected to the Market is having to adapt, but with this rent holiday and continued collaboration with all traders we are confident we can emerge stronger than ever, together.”
ENDS
For all press enquiries, please contact Purple: brixtonvillage@purplepr.com
NOTES TO EDITOR
Brixton Village
As one of London's most diverse and vibrant markets, Brixton Village is a thriving destination for shopping, eating and cultural events that has been built on the unique character of the neighbourhood and its rich cultural heritage. Located on either side of Atlantic Road and a short walk from Brixton Station, the covered markets (Brixton Village and Market Row) have come together under one umbrella to be collectively known as Brixton Village. Cherished by the community for their rich social and cultural history, the markets were saved from destruction in 2009 by a passionate campaign led by local activists, councillors, MPs and English Heritage. Hondo Enterprises became the custodians of Brixton Village and Market Row in 2018 and under their stewardship will preserve and promote their unique character for the long-term.
Hondo Enterprises is a property investment, development and asset management company specialising in transactions in Central London.
Hondo Enterprises' current portfolio consists of a portfolio of three car parks let to NCP slated for redevelopment; Brixton Market, a collection of over 140 unique retail and food traders sitting on over 2 acres of Brixton town centre; and the Sports Direct development site directly adjacent to the market in Brixton that will deliver office and retail.
Previous projects include the ground up development of the 120 bedroom Curtain Hotel and members club in Shoreditch; and the 21 storey mixed use Relay Building in Aldgate consisting of 207 residential apartments and over 100,000 sq.ft of office accommodation, both of which sold in 2018.