Tariff rise will put Northern Ireland pubs under more pressure
Publicans around Northern Ireland will be counting their takings more anxiously than usual with many facing significant rate rises.
The net annual value (NAV) of many pubs in Belfast's city centre has soared as property values have shot up in areas which were down at heel in 2001 but are now fashionable.
Colin Neill of Pubs of Ulster said the increases would be "a tough pill for those businesses to swallow".
But he added: "We welcome the fact that some of the licensed trade will see a reduction in their rates."
The Spaniard in the Cathedral Quarter's Skipper Street - part of the Beannchor portfolio - faces almost a five-fold increase in its NAV, from £10,200 to £49,000. The Dirty Onion on Hill Street has been given a revised NAV of £135,000 - up from £32,500.
The company owns over 50 properties, including two hotels as well as pubs.
Group finance director James Sinton said the revaluation "will undoubtedly place added pressure to what is already an extremely challenging trading environment".