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propertyweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propertyweek.com Daily Mail and Mail on Sunday newspapers.

Property round-up: Red Oak Taverns, Revived Inns

Property round-up: Red Oak Taverns, Revived Inns
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Lease forfeiture moratorium to be extended beyond March

Ministers are drawing up plans to extend the lease forfeiture moratorium beyond the end of March. The Times​​​ reports that both the business department and the Ministry of Housing, Communities and Local Government (MHCLG) have been talking to the property, retail and hospitality sectors over how best to extend the moratorium, which prevents landlords from repossessing commercial premises if businesses are unable to pay their rent as a result of the Coronavirus pandemic. By the end of March, when the moratorium is currently due to expire, it is understood that close to £3bn in unsettled rent will have accumulated within hospitality as a result of the Covid crisis.

Ban on commercial property evictions to be extended

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December retail rent quarter shortfall exceeds £630m

December retail rent quarter shortfall exceeds £630m The retail rent shortfall in the UK totalled £630.8m, in the four months to December, according to data published by Remit Consulting. The report, published in conjunction with British Property Federation, RICS, Revo, Agent s Advisory Group, and other members of the Property Industry Alliance, analysed the collection of rent and service charge payments across around 125,000 leases across the country. On 25 December, the rent collection due date for the final quarter of 2020, landlords had collected 48.5% of retail rents due which increased to 50.5% in the seven-days after the due date. This is below the overall average of commercial properties which saw 52.6% of rents collected on Christmas Day and 59.5% in the seven days after 25 December.

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