STATEMENT BY LONDON PROPERTY ALLIANCE ON COVID-19 EMERGENCY MEASURES

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In addition to the increased measures to restrict movement, the UK Government announced last night that commercial tenants who cannot pay their rent because of the impacts of the COVID-19 crisis will be protected from eviction for at least three months. Read the announcement here.

Our statement in response:

“We welcome the Government’s measures to help protect businesses and safeguard jobs, and the acknowledgement of the efforts of the many responsible property owners that have already been supporting their tenants as best they can. 

“No business is immune from the impact of this crisis and we all have to work together to get through it. All businesses, no matter how big or small, will face cash flow and funding issues and owners are no different. 

“Financial institutions and lenders must now provide the same flexibility so the entire business and financial eco-system is protected in the short-term, and supported in the longer-term to enable the country to recover.”