2021-01-18T13:12:00+00:00
As part of
Property Week’s annual preview feature we asked some of the industry’s leading lights to list their personal and/or professional resolutions for the new year. This is what they said…
Source: Shutterstock/ Rembolle
Head of UK, CC Land
On a personal level, my 2021 resolution is to continue to serve our occupiers and move towards our aspiration of becoming a first-class custodian, giving our communities the environment to attract best in class talent. Furthermore, to help our mixed-use developments at Whiteley’s and Nine Elms take shape and see further progress in 2021.
Lynda Shillaw
Local authorities are losing tens of millions of pounds supporting struggling business tenants through the pandemic which could have dire and long-lasting consequences for local services, Sky News has found.
By Steve Farrell2021-01-15T12:55:00+00:00
Source: Unsplash
Retail rent debt has reached over £2bn after nine months of government protections against eviction and rent debt enforcement, new data suggests.
Between March 2020 and the end of last year, retail’s debt climbed to £2.2bn, making up more than half commercial tenants’ total debt of £4.2bn.
In December, the government extended protections for commercial tenants until 31 March, by which time they will have been in place for a year.
British Property Federation CEO Melanie Leech claimed the latest figures, from Remit Consulting, showed it was “more important than ever businesses that can afford to pay, but have exploited the moratorium and avoided payment, now pay their debt”.
Us versus them will do nobody any good on the High Street
Many retailers have felt the effects of lockdown (Photo by Alex McBride/Getty Images)
While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film
Groundhog Day but instead the calendar was stuck in 2020.
Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned CVA by Caffe Nero another reminder of the recurring disputes between commercial landlords and tenants.
British high streets have been experiencing dramatic changes for some time, many of which were a long time in coming.
December retail rent quarter shortfall exceeds £630m
The retail rent shortfall in the UK totalled £630.8m, in the four months to December, according to data published by Remit Consulting.
The report, published in conjunction with British Property Federation, RICS, Revo, Agent s Advisory Group, and other members of the Property Industry Alliance, analysed the collection of rent and service charge payments across around 125,000 leases across the country.
On 25 December, the rent collection due date for the final quarter of 2020, landlords had collected 48.5% of retail rents due which increased to 50.5% in the seven-days after the due date. This is below the overall average of commercial properties which saw 52.6% of rents collected on Christmas Day and 59.5% in the seven days after 25 December.