Agency update on Covid-19 situation for tenants

With a nation-wide lockdown now in place, these are unprecedented times but at Graham + Sibbald we know that our resolve will see us through.

Our experienced specialist advisers have an unrivalled depth of knowledge of all local Scottish Markets. We provide bespoke commercial property consultancy services across Scotland. We are therefore extremely well placed to help you solve the complex challenges, risks and opportunities that the current situation poses.

We are keeping a watching brief on developments and will be able to help you with any specific questions. For commercial tenants, the latest news is that on the 23rd March the UK Government released further support to assist tenants that are unable to pay rent. In short this announcement means that no business will be forced out of their premises if they miss a payment in the next three months. For full details head to the government website.

This is very welcome news for tenants South of the Border with the English quarter date being today (March 25th), however the rent accrued will still have to be paid at some point. This has already prompted action: Burger King, Carluccio’s and Yo Sushi have already announced that they plan to withhold rents across the UK.

We expect this protection to be mirrored by the Scottish Government with our next rent quarter date being 28th May.

Whatever your questions or concerns, get in touch with:
Keith Watters, Partner (Head of Commercial Agency) – Keith.Watters@g-s.co.uk