In March 2020, the UK Government announced a ban on the eviction of commercial tenants who were unable to pay their rent. Following a series of extensions of the moratorium, the Government extended the ban on landlord remedies for non-payment of rent yet again to 25 March 2022.
At the same time, it announced it would introduce legislation setting out a process of binding arbitration to deal with ringfenced rent debt.
Russell-Cooke partner Matt Garrod comments in Property Week that this latest extension has caught many commercial landlords by surprise. He adds that those same landlords are also hesitant to welcome the binding arbitration scheme considering the lack of detail on how it will be implemented and fairly enforced.
Landlords bemoan extension of commercial evictions ban is available to read on the Property Week website via subscription.
Matt is a partner in the real estate team, advising clients on a range of real estate transactions including investment acquisitions and disposals, premises acquisitions for major retail clients, landlord and tenant matters, development and real estate finance. Matt also has experience in dealing with complex portfolio transactions.