The tip of the iceberg on the road to recovery...


With light at the end of the tunnel following the Government's road map to easing the lock down restrictions, the property market has some tough decisions to make about what comes next. 

Landlords such as Shaftesbury have supported tenants throughout the pandemic but this has left them in a financial situation where they have not even collected half of the rent due for the previous quarter. Add to that the financial situation which occupiers, particularly in the retail and leisure sector, are in after over a year of prohibited or interrupted trade and it is hard to see an easy way out where both Landlord and occupier have a quick recovery. 

As it seems unlikely that the government will do much more to intervene (although watch this space for more comment on that to follow), Landlords and occupiers are going to have to carry on the hard work they have been doing to preserve trade and enable occupiers to get back up and running and eventually be again able to return Landlord value. 

The silver lining in this for Landlords is the importance that occupiers will place on the understanding and reasonable approach they have been taking when the economy does improve. The importance of the Landlord and Tenant relationship has been gradually increasing over the years and this has been the ultimate test which occupiers are not going to forget. 

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Shaftesbury has received 45% of rent owed for the quarter ending December
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