15 February, 2021
In December 2020, the Government announced that it would undertake a review of commercial landlord and tenant legislation in 2021, and this is now expected to take place next month. It is anticipated that the review will consider a broad range of issues including the Landlord & Tenant Act 1954 Part II (security of tenure), different models of rent payment, and the impact of Coronavirus on the commercial landlord and tenant market.
The outbreak of Covid-19 has had a significant impact on the retail and leisure sector, with a considerable loss in business activity forcing commercial tenants and landlords to consider options to make their lease arrangements viable in the current economic conditions. In response to concerns about this, alongside the extension of the forfeiture ban for business tenants until 31 March, Communities Secretary Robert Jenrick announced a review of the "outdated" commercial landlord and tenant legislation with a view to enabling better collaboration between commercial landlords and tenants and to improving the leasing process.
We await further details from the Government in order to assess the implications for commercial leases.
For more information contact Helen Marsh in our Commercial Property department via email or phone on 0333 207 4236. Alternatively send any question through to Forbes Solicitors via our online Contact Form.
Learn more about our Commercial Property department here