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Future of high streets look bleak as the end of Covid-19 rent debt relief nears The future of UK high streets appears bleak today, as 71 per cent of high street businesses expect further job losses without government or landlord support, according to commercial restructuring specialists Cedar Dean. As the end of the rent moratorium approaches, 80 per cent of high street tenants still face ‘unproductive’ discussions with their landlords. Meanwhile, 60 per cent of shop fronts do not expect to survive six months after the rent debt relief ends, as 21 per cent feel they can o...

The UK government is under pressure to resolve the € 6 billion rental delay crisis and avoid legal disputes between commercial tenants and landlords.

Relief effort: Under the Australian scheme, the government has made it mandatory for landlords to agree to a reduction in rent payable, of up to 100%, in proportion to the reduction in the tenant’s business during Covid-19 (Image: flyparade/Getty Images) A group of hospitality operators and property agents are calling on the Government to implement the same rent relief scheme as has been adopted in Australia, according to reports by MCA Insight. Peter Thornton, Australian CFO of live-music venues The Piano Works, alongside David Abramson, CEO of leisure property...

Turnover rents For better or worse, the impact of the pandemic is having a profound effect on the commercial property market. Since the lease forfeiture moratorium was introduced last year, tenants and landlords have been trying to negotiate new lease terms that suit both parties; often unsuccessfully - a recent study carried out by commercial property restructuring specialist Cedar Dean found that 77% of hospitality operators are currently being forced to look at restructuring or insolvency options, with current rents remaining unaffordable for the vast majority of businesses. A switch to tu...

The Power Balance Is Shifting in London’s Commercial Real Estate An extended winter lockdown has shaken the usual arrangement between landlords and tenants ahead of a government review of leasing legislation. Soho is typically a bustling neighborhood in central London, but many restaurants and other businesses have gone out of business in the pandemic, leaving landlords with no income.Credit...Suzie Howell for The New York Times Feb. 9, 2021 LONDON — For years, landlords have had the upper hand in London’s real estate market, pushing up rents as businesses clamored for prime lo...