Rent percentage agreement a good deal for Neil Perry’s new restaurant
The landlords of Neil Perry’s new Margaret restaurant have not charged him any rent for his Double Bay restaurant since he opened in June.
Perry’s 10-year lease with Fortis Development Group was put on hold when the Covid outbreak hit Sydney.
“We hadn’t been charging any rent until last week,” said Fortis Development Group director Charles Mellick.
“He is going to pay some rent as a token,” said Mr Mellick, referring to the agreement that Mr Perry will pay a percentage of rent based on the amount of customers he has.
For instance, if Margaret is at 20per cent capacity, Perry will pay 20 per cent rent.
Perry is employing around 50 staff members for his restaurant and his been discussing vaccinations with them.
“Everybody is very keen to get their life back, we don’t really have anti-vaxxers here,” he said.
“We are all keen to see our family, friends, and to travel, to go to pubs and restaurants, and go and see the world.
Perry, who is fully vaccinated with AstraZeneca added, “I have 50 like-minded people working here.”
Margaret restaurant was named after Perry’s mother. He spent $3.5 million fitting out the restaurant that can seat 120 guests inside and 50 outside.
Irit Jackson, 20th September 2021
