News & Insights
With the trade association UK Hospitality reporting £760 million of unpaid rent, the Evening Standard has recently reported that a number of landlords are unhappy with an extension to the ban on commercial evictions.
Landlords like Westfield, Capital and Regional are displeased with large tenant businesses abusing this respite. Vivienne King, boss of shopping centre organisation Revo, claims rules “have been exploited by some large well-capitalised retailers to withhold rent and any extension will put property owners under severe pressure.”
We are not aware of whether any particular tenant alluded to by Ms King has been named. Nevertheless, there are clearly huge numbers of tenants who are relying on the government measures through this period, especially as the relationship with their landlord becomes more and more fractious. In contrast to this, The British Property Federation’s Melanie Leech has claimed that the majority of property owners and tenants are generally working well together. Adding to this, Rob Pitcher of Revolution Bars has said:
“Whilst an extension to the moratorium is very welcome, if not essential, to prevent widespread job losses across the hospitality and retail sectors, it needs to be accompanied by real financial support for both commercial landlords and their tenants.”