UK Government to extend measures protecting businesses from eviction
- 17th June 2021
- No comments
The UK Government has announced its intention to extend the protection measures for business tenants affected by COVID-19 to 25 March 2022. The extension to the moratorium on commercial lease forfeitures was due to end on 30 June 2021.
The legislation will help tenants and landlords work together to come to an agreement on how to handle the money owed – this could be done by waiving some of the total amount or agreeing on a longer-term repayment plan.
Existing debts accumulated during the pandemic will be “ringfenced” in order to protect tenants struggling to pay. A new arbitration mechanism will be introduced to help tenants and landlords resolve disputes over any bad debts.
It is important to note that the Welsh Government is yet to announce a decision on the position in Wales.
For more information, please read the full press release.
If you need specialist advice, guidance or support from our team of legal experts, please email email@example.com or call us on 02920 224433. Please contact James Pearn, Partner and Head of Property at Loosemores or Oliver Morris, Commercial Property Solicitor to find out more.