The UK government are set to extend current restrictions on commercial tenant evictions until the end of June as part of a range of measures set to help businesses navigate the roadmap out of the current circumstances.
The decision, as reported by the Financial Times is a change from previous assertions that the extensions until March 2021 would indeed be the final extensions to many of the support measures brought in at the start of lockdown.
These measures are set to be revealed as part of the Spring Budget on 3rd March, which will take place five days before the first restrictions are set to be lifted as part of a roadmap out of lockdown.
The initial ban was enforced in March and was initially extended as part of the Coronavirus Act 2020, which halted the ability for property owners to seek evictions for businesses unable to pay as a result of shops closing.
However, this unpaid rent money has not gone away and will require some form of strategy to enable further deferrals or reductions in rent as non-essential shops and hospitality establishments reopen to avoid shuttering entire industries.
One policy that was not mentioned but has been the subject of consistent speculation relates to the stamp duty holiday that has been credited with kickstarting an exceptionally competitive property market.
It was set to end on 31st March 2021, a point of contention for the housing market as 100,000 sales are expected to not complete until April as a result of conveyancing delays.
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