As some of you may have seen in the news the ban on forfeiture of commercial leases has been extended until March 2021. The government claim this is the final extension.
They have also announced a review of commercial landlord and tenant legislation on the basis that the current framework does not reflect the current economic circumstances. No details on what that actually means but it would be no surprise if they introduced greater statutory protections for tenants, perhaps putting on a compulsory footing the ‘guidance’ they issued to commercial landlords and tenants earlier in the year. We could be looking at:
- Restrictions on forfeiture and CRAR outside the court process
- Different models of rent payment e.g. turnover rents becoming the norm
- Banning upwards only rent reviews
- review of the business rates system
Please click here to view the previous update on this matter.
For further information or advice please contact Emma Wells.
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