As with any major purchase, the devil is in the detail when it comes to investing in commercial property. For the prospective purchaser, thorough pre-purchase investigations will pay dividends several times over.
If landowners want to change the use of their property from agricultural to commercial or residential then it is important to ensure that they have the correct easements in place to support that change of use.
The Government has announced extra protection for businesses by placing a moratorium on commercial landlords’ sanctions for at least three months so that those who cannot pay their rent because of cashflow difficulties related to the coronavirus will be protected from eviction.
Requests from commercial tenants for rental holidays in the light of a drop in business caused by the coronavirus pandemic have become commonplace. Analysis indicates that overall rent collection for the March quarter fell by over 25% in the UK.