COVID-19: Support for commercial tenants?
The Prime Minister’s announcements over the weekend evidence increasing support for individual tenants and commercial tenants.
Support for commercial tenants?
Whilst the support for residential tenants includes a moratorium on tenant evictions for 6 months as a result of financial hardship, the support for commercial tenants is more directional at this stage, appealing to landlords and banks to support commercial tenants suffering hardship due to COVID-19 impacts. The aim is to achieve amendments to leasing and banking arrangements by agreement between the parties.
Lpc Cresa advisors continue to act for commercial tenants (office, retail, industrial) navigating through the COVID -19 crisis, with a focus on interim occupancy cost relief and on post COVID-19 readiness. Register to receive weekly COVID-19 updates on government intervention, with our evolving COVID advice for commercial tenants, and for the dates and times of our COVID-19 webinars.
Getting through COVID-19
Getting through COVID-19 requires a level of collaboration between tenants, landlords, and financiers not seen before. There is a limit to government intervention, but there is no limit to innovative collaboration.