In response to the Government’s announcement that the commercial eviction ban will be extended until 25 March 2022, Charles Begley – Executive Director of London Property Alliance (WPA and CPA) said:
“We have been supportive of the moratorium as a well-intentioned, emergency measure to enable businesses badly impacted by Covid-19 measures to survive the crisis. It worked in the short term as a blunt tool to provide certainty in the immediate aftermath of lockdown.
“However, in some cases the eviction ban has prevented occupiers from actively entering into negotiations. It has also been taken advantage of by a small number of major corporates that have withheld rent in order to manage their cashflow, despite continuing to make profits during the pandemic. These actions have limited the ability of property owners to direct additional help to those businesses in most need.
“We understand the Government’s good intentions to support businesses following the delays to the Covid response roadmap, but now is the time for Government to extend similar assistance to property owners, many of which could fail without some form of debt relief. Equally, well capitalised businesses which can pay should be required to do so, so that owners can work flexibly and constructively with occupiers to ensure they can remain trading and successful in the long term.”
Read coverage in the Evening Standard here.