Premises

Stage 1 – Crisis management

COVID-19 Consequences for Landlords

With COVID-19 impacting on every aspect of the UK economy, we consider the potential issues for commercial landlords and property investors. In particular, what happens to the liabilities under a lease if the tenant is forced to close their premises or if a landlord is required to close a multi-let building, business park, shopping centre or retail park?  Read more here.

 

Building contracts

The effects of the pandemic on construction projects put us in an unprecedented situation, so whilst we summarise below the general principles that are likely to apply under a standard JCT contract, it is unfamiliar territory and will likely lead to some novel situations.  Read more here.

Stage 2 – Stabilisation

Reopening of retail: the impact on requests for rent suspension

For retail and commercial tenants that remain affected by the pandemic, it will be more difficult (but not impossible) to request a rent suspension. Below are some key questions you may have and our guidance as things currently stand.  Read more here.

 

What is the end game for getting back to the office?

Offices are not redundant but some are facing an identity crisis.  On Thursday 30 July, Sector Head for Occupiers, Oliver Morris, hosted a webinar with panellists Rosie Haslem (Spacelab) and Lee Butz (District Technologies). Watch the recording here. 

Stage 3 – Recovery

Changes to planning law

The Government announced that it will soon be bring in to force legislation to provide that development which has already received the grant of planning permission or listed building consent, and would otherwise lapse between 23 March and 31 December 2020, will be extended until 1 April 2021.  Read more here.

 

Reducing office space

At a time when speed is vital, reorganising and reducing your office space can feel a frustratingly slow process.

If you don’t have a lease end or break option coming up, you may be considering transferring your lease or subletting surplus space.  Read more here.

 

Repurposing retail space

COVID-19 has changed the way we work quicker than we ever could have predicted, forcing us out of city centres and offices and back to our houses and home towns. Read more here.

Stage 4 – Resilience 

In this section, we have carefully selected some insightful content from experts in their field to share with you. NB: this content will open in a new window.

COVID-19 Highlights the Importance of Tenant Communication 

Media platform, Propmodo, looks at how landlords have been investing in a new category of building technology called ‘tenant experience software’ to help connect management, renters and the surrounding communities. In normal times, the flow of information that these digital interfaces provide can help a building be more liveable and profitable. But in times of crisis, they can become a lifeline for those depending on timely local information.  Read more here. 

 

Developing new strategies as owners and occupiers adapt, evolve and improve the workplace

Savills FiT is providing clients with practical, strategic and design-led advice and insights including practical solutions for landlords to enhance user experience in office buildings. Read more here. 

In this section, we have carefully selected some insightful content from experts in their field to share with you. NB: this content will open in a new window.

Achieving Net Zero: Turning Commitments into Action

A case study from Derwent London via the Better Buildings Partnership. 

Since the UK committed to legally binding targets to achieve net zero carbon by 2050, businesses across a variety of sectors have begun to publicly state their own net zero goals. However, to achieve a meaningful reduction in carbon emissions, commitments must now be turned in to tangible actions, and this is where the real challenge lies.  Read more here.

 

Physical Climate Risk Assessment

EVORA’s Climate Resilience team has been advising clients on physical, transition and litigation risks associated with climate change – and how these affect the resilience of financial investments.  Read more here.

 

The use of modern construction methods in a post Covid environment

When written in Chinese, the word ‘crisis’ is comprised of two characters – one represents danger and the other represents opportunity.  I can’t lay claim to knowing this personally – for that I am grateful to the late John F Kennedy who referred to this in one of his political campaign speeches.  Read more here.