All Property articles – Page 5
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Downey’s nine-month rent time out proposal to be submitted to Government
Jonathan Downey, founder of Hospitality Union, is to submit a formal proposal to the Treasury next week for a nine-month rent-free period for hospitality, leisure and retail businesses forced to close because of the coronavirus pandemic.
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Shelley Sandzer: Recalibrate to rejuvenate
Even before Covid-19 affected us all, rent and rates liabilities were dangerously high for F&B operators and there had already been some casualties. The Living Wage and Minimum Wage were adding further pressure too, so when coronavirus hit like a metaphorical stop button, the impact of these issues accelerated exponentially, creating a perfect storm of pain felt by everyone in the industry.
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DCL: ‘Lots of activity’ in property post-lockdown
Property deals are expected to ramp up again in the immediate aftermath of the lockdown being lifted, Trevor Watson of David Coffer Lyons has said.
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FCA warns insurers ‘settle claims or explain’
The Financial Conduct Authority has warned insurance company bosses to speed up and settle coronavirus-related claims or explain themselves to the regulator.
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The Conversation: with Street Feast CEO Jonathan Downey
In the latest edition of MCA’s new virtual event, The Conversation, former corporate lawyer and current Street Feast CEO Jonathan Downey discuss the impact of coronavirus on our sector, what’s been achieved, and what we are looking for next.
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Commercial landlords call for flexibility from lenders
London’s biggest property owners have called for more flexibility from banks and lenders as tenants fail to pay their rent during the pandemic, The Times reports.
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Ei and Punch extend rent deferral
Ei Group and Punch Pubs are the latest pub companies to extend the deferral of rent and other payments as the coronavirus pandemic continues.
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UKH calls on Government to protect businesses against “punitive” landlord sanctions
Hospitality businesses need urgent support to protect them from punitive legal sanctions from commercial landlords, UK Hospitality has informed the Government.
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Landsec allocates £15m to F&B rent relief
Land Securities has set up a rent relief support fund of £80m, with a particular focus on F&B operators and SMEs.
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Landlords threaten winding up orders over unpaid rent
UK landlords are threatening legal action against hospitality operators after many withheld rent to preserve cash during the lockdown, the Financial Times reports.
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Hammerson collects 37% of billed rent
Hammerson, the property and development company, has received 37% of UK rent billed as of the end of 27 March.
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British Land releases small tenants from rental obligations
British Land has released its smaller retail, food & beverage and leisure tenants from their rental obligations for three months (April to June).
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Boxpark: 'You can't sit in your ivory tower and collect your cheque'
Boxpark CEO Roger Wade has said that to ensure SME’s survive the coronavirus lockdown, landlords must work together with tenants and make sacrifices.
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Shaftesbury: Supporting tenants the ‘right thing to do’
Shaftesbury, the West End landlord, is supporting tenants with rent deferral, to help ease their short-term cash flow issues so they can resume trading once the current restrictions are lifted.
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TfL follows Network Rail and cancels first quarter rents
Transport for London (TfL) has cancelled rent payments for small and medium-sized businesses on its estate from 25 March to 23 June.
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Senior CEO: ‘Our view is people should boycott rent’
Senior directors are considering boycotting rent amid a wave of mass closures to hit the restaurant and bar sector, MCA understands.
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Mass repossessions if government does not step in
The majority of landlords are refusing to negotiate meaningfully on rent payments despite the threat of widespread restaurant closures, Imbiba property director Kieran Sherlock has told MCA.
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Intu footfall flat as it explores further disposals
Intu has reported footfall was flat in its UK shopping centres in 2019, outperforming the wider retail market where footfall was down 2.5%.
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Brains to sell off 40 sites
Welsh brewer Brains has announced plans to sell 40 managed and partnership pubs that are not considered ‘core to its business.’
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Brighton curry concept gears up for expansion
Brighton-based Indian street food concept Curry Leaf Café will expand along the South Coast this year, co-founder Euan Sey has told MCA.