Lease Advisory News
Commercial Rent Arrears (Coronavirus) Act 2022
Release 12th September 2023
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Whilst the window on referring rental disputes to arbitration has now closed it was interesting to note that very few cases were actually referred to arbitration. The RICS had only 2 cases both of which allowed relief from payment of rent of 50% and with 3 months to pay.
Green leases and lease renewals
Release 12th September 2023
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Recent case law held that a proposed alterations clause which sought to prohibit alterations which would reduce the EPC rating below E could not be imported into the renewal lease. It was reasonable however to require that the tenant maintained the EPC rating at the end of the new lease to prevent in action by the tenant on a terminal schedule of dilapidations.
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Green clauses in new leases are becoming more important with the MEES (Minimum Energy Efficiency Standards) becoming ever more stringent.
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The interaction with MEES at lease renewal and upon receipt of a terminal schedule of dilapidations and also at rent review during the term of the lease, is a complex area upon which advice should be sought form surveyors and lawyers.
Government provides further halt to business evictions and more support for high street firms
Release 19th June 2020 Gov.uk
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The UK government will extend measures to prevent high street businesses facing eviction over summer
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New code provides support to shops and local firms planning their future recovery with their landlord
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Industry leaders back code and welcome measures to support affected businesses
Click Here For More Details
Renegotiating a leasehold during the Covid-19 crisis
Release 23 March 2020 Property Reporter
As the impact of COVID-19 on the UK economy becomes clear, an increasingly common question is: “What steps can I take concerning reduction (either permanently or temporarily) of tenants’ leasehold liabilities until such time as the consequences of COVID-19 have passed?”
Forty six per cent of June Quarter Day commercial rent now collected
Release 2nd July 2020 Co-Star by Paul Norman
Commercial tenants in the UK have paid 46% of the 24 June Quarter day rent, up from
18.2% a week ago, according to the up-to-the minute.
Landlords’ 'relief', reports Colliers, as 22% of retailers paid rents on time
Release 26 June 2020 Co-Star by Paul Norman
Colliers' figures find retailers have broadly paid the same rent now after June rent quarter day as they had at the same time after March rent quarter day.
Office occupiers in 'dramatic' race to offoad space across UK and Europe
Release 22 May 2020 Co-Star by Paul Norman
Corporate occupiers in major European cities are already preparing to shed excess space in anticipation of the post-Covid-19 working world, according to ofce specialists from the Society of Industrial & Ofce Realtors (SIOR), which have reported a surge in enquiries from occupiers seeking advice on sub-letting surplus space.
Debenhams to file for administration
Release 06 April 2020 Co-Star by Paul Norman
The famous department store chain has appointed FRP Advisory in what it has termed a “light touch” administration that will see the existing management team stay on under the direct control of the administrators.
Office exodus predicted as Covid triggers home working revolution
Release 06 April 2020 Co-Star by Paul Norman
Landlords and agents are braced for a mass exodus from offices as a remote working revolution causes chaos on the commercial property market.
Rents are predicted to fall sharply as companies seek out smaller, cheaper sites and there is a surge in employees working from home.
Nine out of 10 agents and landlords expect firms to scale back office space in the next two years, the Royal Institution of Chartered Surveyors (Rics) revealed.
Government extends support to stop business evictions this year
Published 16 September 2020 by Gov.uk - Ministry of Housing, Communities & Local Government and The Rt Hon Robert Jenrick MP
The government has extended support to prevent business evictions until the end of 2020.
This move will help businesses over the coming months and protect people’s
jobs.
This is an addition to the £160 billion package of support available for businesses during the pandemic.
Govt Confirms End Date for Commercial Property Moratorium on Evictions
Published 08 December 2020 by Gov.uk - Chancellor of the Exchequer - Rishi Sunak
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Business eviction ban extended until the end of March 2021
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Review of commercial landlord and tenant legislation to be launched
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Builds on the extra £280 billion government support for businesses during the pandemic
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Ban on commercial evictions extended to 30 June 2021 and bailiff enforced eviction ban extended to 31 May 2021 to protect residential tenants.
Published 10 March 2021 by Gov.uk - Ministry of Housing, Communities & Local Government, The Rt Hon Kwasi Kwarteng MP, and The Rt Hon Robert Jenrick MP
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Ban on commercial evictions extended to 30 June to ensure businesses are supported as they re-open
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Six-month notice periods and bailiff enforced eviction ban extended to 31 May to protect residential tenants
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Follows unprecedented package of support for businesses and renters during pandemic
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