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Boxpark in Shoreditch opened this weekend as the world’s first pop-up mall! The mall consists of over 60 shipping containers and is located on a site which is to be redeveloped in five years time.
Pop-up shops are obviously now a common sight during the busy christmas shopping season as retailers take the opportunity to open small units, often for terms of around three months or less.
Attractive rents are available to tenants due to the number of empty units and new technology has made the set-up of temporary till systems easier. Pop-up shops can also be an appealing proposition for landlords too because a fresh period of business rates relief can become available after the temporary letting ends.
In our view, pop-up shops may also encourage longer-term lettings if they generate footfall and add to a vibrant shopping experience in what would otherwise be a quieter corner of a shopping centre or high street. Let’s face it – every little helps in this market!
The Government appears set to announce plans on ‘living with Covid to restore freedom’. With the success of the retail and hospitality sector key to recovery, what protections will be on offer to tenants to deal with Covid-19 rent arrears?
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Break rights have proved a fertile source of litigation over the last few years. More often than not, tenants have found themselves on the wrong end of the decisions. However, a Court of Appeal decision yesterday has bucked that trend.
One of the requirements for tenants to contract out of the security of tenure regime contained in the Landlord and Tenant Act 1954 is that they make a simple or statutory declaration before entering into the lease.
Landlords should reconsider summary judgment if a Part 26A restructuring plan is pending.
Senior Associate
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