The majority of commercial landlords have shown flexibility, understanding and commitment in order to protect businesses during an exceptionally challenging time.
This final extension to protections from the threat of eviction will give landlords and tenants 3 months to come to an agreement on unpaid rent with the UK government making it clear that where businesses can pay any or all of their rent, they should do so.
Further guidance to support negotiations between landlords and tenants will also be published shortly.
The move will also support businesses worst affected by the pandemic, such as bars and restaurants, helping them to rebuild over the winter period. This is in addition to putting in place one of the world’s most comprehensive economic responses to protect jobs, incomes, and business throughout and beyond this pandemic.
Today’s announcement builds on the extra government support for businesses, including targeted VAT cuts, extension of government-backed loan schemes, grants of up to £3,000 (€3,323) for premises that must close, and £1.1 billion (€1.2 billion) for councils to enable them to support businesses in their area.
Overall the government has committed a package of over £280 billion (€310 billion) of support for businesses and employees this year and the Chancellor has confirmed an additional £55 billion (€61 billion) for next year.
Secretary of State for Housing Rt Hon Robert Jenrick MP said: “I am extending protections from the threat of eviction for businesses unable to pay their rent until March 2021, taking the length of these measures to one year. This will help them recover from the impact of the pandemic and plan for the future.
“This support is for the businesses struggling the most during the pandemic, such as those in hospitality – however, those that are able to pay their rent should do so.
“We are witnessing a profound adjustment in commercial property. It is critical that landlords and tenants across the country use the coming months to reach agreements on rent wherever possible and enable viable businesses to continue to operate.”
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