Difficult choices facing business owners, tenants and landlords

This week was a big one for the commercial property market in the UK. Many commercial landlords routinely collected their quarterly rent. However, due to the current COVID-19 pandemic, many tenants were unable to pay any or all of the rent owed. Big corporate tenants have been able to dictate favourable terms in renegotiations, often bringing rents down considerably, rather than suspending rents. These heavyweight tenants, while losing millions through declining revenue, are seemingly protected in some instances due…

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