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Stories are hitting the newspapers this week that stores on some depressed high streets are being let for £1 rent so that landlords can avoid paying business rates on vacant units. This follows the British Retail Consortium’s challenge to the Chancellor, George Osborne, to re-think the proposed increase in 2012’s uniform business rates in line with September’s RPI figure which could mean an increase of 5.6% .
Mary Portas’ High Street Review is set to be published next month, where business rates may well be discussed. As rates increases are not set to kick in until April 2012, it is unlikely we have heard the last on this. If the government doesn’t step in, we may see an increase in these £1 rent lettings with a possibility that tenants in depressed areas ask their landlords for reductions in rent to cope with the increase with the alternative being a vacant unit.
Judgement has been handed down for the seminal case of Cardtronics UK Ltd and others (Respondents) v Sykes and others (Valuation Officers) (Appellants) [2020] UKSC 21.
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Following an MP debate on 5 November 2019, the government is due to release long-awaited guidance as to how it intends to protect workers in the retail industry against violence, harassment and abuse.
Some commentators had anticipated that persisting retail sector challenges might disrupt more than the make-up of the high street or commercial property negotiations between landlords and tenants.
Mandatory registration under the Drone Safe Drone and Model Aircraft Registration and Education Service starts at 00.00 on 30 November 2019.
Partner and Head of Real Estate
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