On 16 March 2020 Number 10 advised those living in the UK against “non-essential travel” in order to curb the growing outbreak of Coronavirus. This encouraged many office-based businesses to communicate to their employees that they should work from home until further notice.
As the June quarter date fast approaches and the economic impact of COVID-19 begins to be felt across all sectors, what steps should landlords be taking to vary their lease arrangements with tenants who are unable to meet their rental obligations, and could a reduction in rental income due to COVID-19 put landlords in breach of their own obligations under their loan facilities?
As the UK eases its lock-down measures, employers need to start planning a safe return to work for staff. In the short-term, this means providing a ‘COVID-19 secure’ environment, enabling staff to maintain social distancing whilst attending work.
The restrictions imposed by the UK Government to help fight the spread of coronavirus have hit thousands of businesses over the last few weeks. An Office for National Statistics survey found that 25% of businesses had temporarily closed or paused trading in the UK, based on answers of over 5,000 businesses surveyed.
That is because following its recent consultation, the government has announced that it will soon become unlawful to continue to let a non-domestic property with an EPC rating below B, a move that the government estimates could cost approximately £5bn between now and 2030.