Restaurants and landlords ‘must unite’

By the Editorial Team · Friday, September 11, 2026

Jeremy King, founder of the Ivy and other prominent restaurants, urged restaurant operators and landlords to collaborate more closely to address challenges in London's commercial property market and ensure long-term stability in the hospitality sector. He emphasized that relying on government tax cuts is insufficient, advocating instead for shared risk and investment between landlords and tenants to create a more sustainable business environment.

Jeremy King, a prominent figure in the UK hospitality sector and the founder of well-known establishments including the Ivy, the Wolseley, and Le Caprice, has called for greater collaboration between restaurant operators and landlords to strengthen the industry's resilience. Speaking at an event focused on the future of London, King emphasized the importance of addressing challenges within the commercial property market as a critical step toward long-term stability for hospitality businesses.

King expressed skepticism regarding a recent campaign led by chef Tom Kerridge advocating for a government-led reduction of the value-added tax (VAT) on hospitality from 20% to 10%. While the campaign seeks to ease financial pressures on the sector, King suggested that reliance on government intervention may be misplaced. Instead, he urged industry stakeholders to cultivate a more sustainable operating environment through improved partnerships and risk-sharing.

Reflecting on changes over the past two decades, King pointed out a significant shift in lease agreements affecting restaurants in London. He noted that 20 years ago, restaurateurs could secure 25-year leases renewable under the Landlord and Tenant Act 1954, providing a foundation for investment and growth. However, he observed that shorter lease terms have become more prevalent in recent years, which he attributed to a lack of long-term vision within the city’s property market.

“Landlords have to start realising that they have to invest in their properties,” King said, underscoring the need for renewed engagement from landlords to support their tenants. He advocated for a model based on participation, collaboration, and shared risk-taking among landlords and operators alike, rather than expecting government remedies to solve systemic issues.

King’s remarks highlight ongoing concerns about the commercial property sector’s impact on London’s hospitality industry, where rising rents and shorter leases have contributed to financial uncertainty for many businesses. As the industry navigates post-pandemic recovery, his call for unity between operators and landlords suggests a shift toward more sustainable practices rooted in mutual support over policy dependency.

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