CORONAVIRUS AND COMMERCIAL LEASES - 23RD NOVEMBER 2020
Coronavirus and Commercial Leases
23rd November 2020
Although all the news at the moment has been focussed on residential conveyancing – what are the key issues for commercial leases. Many tenants will want to exit the lease and many landlords will want to prevent this given the death of the retail market at present. And if a lease is terminated what are the knock-on effects for both landlord and tenant?
What’s happening in the market right now..
Attitudes of landlords, investors, and tenants
Restrictions on forfeiture
Cash-flow and lending covenants
Service charges issues – maintenance
Breach of insurance terms
Opposing break claims
CVAs post Debenhams
Administrators - Lundy Granite & rent & dilaps today
Health and Safety – Fitness for habitation
Dilaps and deep cleans?
Keep open covenants
Operation of break clause – triage
Negotiation of a break
Surrender & MEES
Alienation and subletting
Frustration, the EMA case, force majeure,
Derogation from grant
Hannah Mackinlay is a solicitor who has worked at major firms and has been listed in the Legal 500 when she was at Pinsent Masons. As well as acting for major landowners, local authorities, development agencies, national house builders, banks, building societies and PLCs, she has also dealt with volume conveyancing also ordinary high street commercial leases and small developers. She has delivered hundreds of training course for CLT, MBL and other training providers.