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Jones Lang LaSalle recently estimated that 50% of retail leases are to expire by 2015. Retailers will be able to pick and choose whether they want to stay or go and, in a market with high vacancies, will be able to demand extremely favourable terms from their landlords. Landlords may then have little choice but to concede to the demands or face a vacant unit. However there are those who are suggesting that the future for the High Street does not necessarily lie in retail. With a huge increase in online shopping the call is for shopping areas with an experience, catering for cafes, events and for things you cannot or prefer not to do online or even conversion to residential use. If vacancies are to increase landlords may be faced with little alternative but to look for a non-retail use. The question is, following the Mary Portas’ review, how will the government help?
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.
Legal Director
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