How does Primark hold the key to retail rents?

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Last month our commercial property team looked at Arcadia's attempt to negotiate rent reductions with the help of CVAs. Since then, more high street retailers are following suit and we look at what the future holds for commercial leases. Our article in July 'Arcadia propose CVA to their landlord Intu' discussed the difficulties faced by Arcadi...
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83 Hits

Arcadia propose CVA to their landlord Intu

Arcadia
Despite describing themselves as a global fashion force, Arcadia, owned by Sir Philip Green, has approached its creditors, including Intu Properties plc, with company voluntary arrangements in a bid to stave off collapse. But what exactly is a CVA and what impact does it have on landlords and tenants?   Arcadia owns fashion retailers Tops...
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164 Hits

Business Rates - What’s the problem?

Business Rates - What’s the problem?
The subject of business rates has been a hot topic in the news recently, with PricewaterhouseCoopers reporting that 1,123 stores have vanished from Britain's top 500 high streets in the first six months of this year. As a result, a recent conference on business rates has called for a shake-up. But how?       What are business rates? ...
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163 Hits

Commercial Property, Frustration and Brexit

Commercial Property, Frustration and Brexit
The UK's return of a vote in favour of leave in the referendum on its future relationship with the European Union had an impact on the latter's decision as to where its European Medicines Agency should be based and, having entered into a lease for a property based in the United Kingdom some 21 months prior to the result, wished for it to be re...
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425 Hits

Forfeiture of a Commercial Lease – Is It Right For Me?

Forfeiture of a Commercial Lease – Is It Right For Me?
If a tenant breaches the conditions of a commercial lease the landlord is entitled to take legal action against the tenant if the lease permits. Forfeiture is the ultimate remedy available – but which way? Peaceable re-entry or Court proceeding? ​Forfeiture meaning - What is forfeiture of a lease? Forfeiture is essentially the legal remedy whe...
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1494 Hits

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