Related insights: Commercial Property
Extension of protection for commercial property tenants
11 Mar 2021
On 10 March 2021, the UK Government announced its plans to extend to 30 June 2021 the protection given to business tenants against forfeiture of leases for non-payment of rent. This is the fourth time that the protection has been extended since March 2020.
WBD acts for Moorfield Group on trio of acquisitions in the South East
04 Jan 2021
Womble Bond Dickinson (WBD) has advised Moorfield Group, a UK-focused real estate fund manager, on three acquisitions of single-tenant logistics assets totalling 205,322 sq. ft.
Will collapsed high street retailers survive online?
03 Dec 2020
On the back of the news that Debenhams has gone into administration, Philip Knight, lends his thoughts to the reduced footfall on the high street and the increasing surge of online shopping spend
WBD bolsters Edinburgh offering with new partner hire
14 Sep 2020
Womble Bond Dickinson (WBD) has strengthened its real estate practice in Edinburgh with the appointment of Paul Mason who joins as a partner.
Extension of protection from forfeiture in Wales
10 Sep 2020
A recent change to legislation in Wales concerning commercial landlords and their ability to forfeit business tenancies for non-payment of rent has been announced.
How open is the open market? 1954 Act Valuation and the new Telecoms Code
25 Aug 2020
Since the Code was introduced in December 2017, professionals involved in the negotiation of new Code rights between landowners and operators have wrestled with how the Code and the 1954 Act interrelate. Their effective mutual exclusivity (confirmed both in the Code itself and in the subsequent decision of Ashloch) is by now well known, but until now there was no answer to this key question. The Deputy Chamber President's resulting judgment is interesting both as an illustration of a standard 1954 Act lease renewal, and in what it says about open market rentals in a new Code world.
The high street, town centres and planning reform in England - the Use Classes Order
14 Aug 2020
Major changes are afoot for those owning, occupying, funding or developing commercial and business premises. On 21 July 2020 the Government laid a statutory instrument which will make radical changes to how high street and business uses are categorised in planning terms. Changes come into effect on 1 September 2020 and will apply to England only. We have provided a summary table below on the sweeping changes but first we consider the key implications for those in the commercial property world.
Hotel management agreements post COVID-19: a new world?
02 Jun 2020
A hotel management agreement (HMA) is the core document governing the relationship between hotel owners and operators/managers. In a subsector of the commercial real estate industry particularly hard hit by COVID-19 disruptions, this relationship is being tested in unique ways.
RPI is changing: 3 reasons why property occupiers and investors need to take action
12 May 2020
The recent announcement of the Chancellor, Rishi Sunak, to extend the consultation period for assessing the reform of the Retail Prices Index (RPI) until this summer in view of COVID-19 will give businesses more time to respond on this important issue. Whilst many of the articles about the proposal to align RPI with the Consumer Prices Index plus Housing Costs (CPIH) methodology will focus on the effect it will have on bonds and pension schemes, landlords and tenants will need to be aware of the implications for commercial leases. It has been accepted that RPI will go (or be brought in line with CPIH) from 2030, but the Chancellor has given a clear signal that he is thinking about bringing that date forward to 2025. This makes it relevant for many new leases being agreed now or already in place.
Leases, retailers and COVID-19
13 Mar 2020
On 11 March 2020 the chief of The World Health Organisation (WHO) labelled the outbreak of COVID-19 a pandemic. The WHO has called for "urgent and aggressive action" and emphasised the need to "strike a fine balance between protecting health and minimising disruption".
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