Rishi Sunak has urged Londoners to rally behind the capital’s “great return” as he hailed a major investment by drinks giant Guinness in the heart of the West End.
The Chancellor told the Standard the £73 million move to create a Guinness microbrewery, event space, store and restaurant in Covent Garden was a “crucial vote of confidence” in the capital that would help “drive forward London’s economy as we leave Covid behind”.
Mr Sunak said he was “excited and optimistic” about London’s future and urged people “to support the capital’s bounce back and make the most of what it has to offer”.
The 50,000 sq ft Guinness complex at Old Brewer’s Yard - where beer was first made 300 years ago - near Neal Street is due to open in Autumn 2023 and will create 150 jobs.
Mr Sunak said: “This multi-million-pound investment is a crucial vote of confidence in our capital.”
“Three hundred years after brewing the first beer in Old Brewers Yard, it’s fantastic to see Guinness breathing life into our hospitality and tourism industries and creating more jobs and training opportunities in central London.”
Guinness’s owner, the drinks multinational Diageo, said the investment demonstrates its “confidence in London and the UK as a go-to destination for tourists and its commitment to the hospitality sector, which employs almost 2 million people in the UK”.
Dayalan Nayager, managing director, Diageo Great Britain, said: “We’re excited to create a new home for Guinness in the heart of London. ‘Guinness at Old Brewer’s Yard’ will strengthen London’s hospitality community and be a must-visit destination for thousands of visitors to enjoy.
“Government support over the last two years has been vital for pubs and bars. Coming out of the pandemic, the long-term vitality of the trade will be significantly helped by the alcohol duty review and continued freezes in duty.”
Guinness sales in Great Britain have grown by over 30 per cent in the last six months and one in every 10 pints sold in London is now a Guinness.
The new site, to be called Guinness at Old Brewer’s Yard, will include: A microbrewery producing limited edition beers and offering tours with Guinness beer specialists; event spaces and central covered courtyard; a Guinness store selling rare items, and a open-fire kitchen, restaurant and 360 degrees glass rooftop space.
Old Brewer’s Yard is owned by the Mercers’ Company. Its chief executive Rob Abernethy said: “We have worked closely with Diageo to develop proposals which will restore Old Brewer’s Yard’s historic origins in a contemporary context.
“The significant level of investment is a major boost to London’s recovering economy and will provide a one-of-a-kind immersive experience, shining the spotlight on Covent Garden as a global visitor destination. Old Brewer’s Yard will provide a wonderful platform for the Mercers’ Company to continue its philanthropic work, helping to create positive change so that everyone has the chance to lead a fulfilling life.”
