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Coronavirus – Commercial Property

The economic impact of coronavirus is already affecting all businesses, the majority of which are now required to re-evaluate every aspect of their operations. A particular area of focus for many businesses is to review obligations and financial liabilities in respect of let business premises.

The restrictions announced by Boris Johnson on 23 March have led to fundamental changes in the way businesses operate with staff required to work from home unless it is essential that they travel to work. Some businesses, such as pubs, restaurants and non-essential shops, have been required to close entirely. This briefing note provides a summary of the immediate options available to both tenants and landlords.

Guidance as PDF

 

Do you have a question about the implications of the coronavirus outbreak or would like practical guidance? Submit a question to our lawyers below and they will provide the answer on the website and social media.

 

Tenants – How can I reduce my financial liabilities?

Landlords – How should I respond to a tenant claiming financial distress?

The current social and economic landscape provides major challenges for both landlords and tenants alike.  Where voluntary arrangements are agreed by landlords and tenants these should be recorded formally by way of a deed of variation or side letter which has been properly executed by the parties.  Legal advice should be sought by both parties.

Useful resources:

Who do I contact for support and advice?

If you require such assistance or for more information on how we can support you during this time, please contact one of our Commercial Property specialists.

Our Commercial Property Team

Unsure who to contact? Make a general enquiry:

Newbury Thatcham Maidenhead
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