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In our earlier updates on this subject we reported that the UK Government was planning to introduce a compulsory arbitration scheme to deal with arrears of rent that fell due during the COVID-19 pandemic. Those plans took a step closer to becoming reality on 4 August 2021, following the release of a full policy statement from the Government, confirming its intention to legislate for the scheme
A summary of recent developments in the real estate sector impacted by COVID-19 including landlord and tenant impacts and the future of the workspace, the implications of the increasing use of drones, and the impact of Japanese knotweed in UK property transactions.
Over the past year, we have considered the government measures brought in to support tenants and businesses affected by the COVID-19 pandemic.
This year’s Queen’s Speech outlined the UK Government’s plan to 'level up' opportunities across all parts of the UK, supporting jobs, businesses and economic growth, and addressing the impact of the pandemic on public services.
With non-essential shops now open, the future of the workplace remains at the forefront of employers and employees minds. The emphasis of remote working with limited need to be in the office may pose serious questions on the requirement to retain premium office spaces.
We are delighted to announce that Kennedys Legal Solutions, via our joint law venture partner Legal Solutions LLC, acted on the recent sale of Maxwell House, which was sold enbloc for SGD 276.8 million.
Further to our earlier article on the impact of drones on the real estate sector, we consider the red tape surrounded by the use of drones and the wider implications on operators and pilots.
We highlight the impacts of Japanese knotweed to buyers, sellers and lenders in UK property transactions arising from the House of Commons Science and Technology Select Committee's 2019 report. We also consider the latest findings released by Defra (Department for Environment, Food and Rural Affairs) in September 2020 on the international approaches to Japanese knotweed.
The government announced on 10 March 2021 that the ban on the use of forfeiture is to be extended for a period of three months to 30 June 2021. Legislation is also being laid to extend the current ban on the use of the Commercial Rent Arrears Recovery procedure to 30 June 2021.
Chancellor Rishi Sunak MP delivered his second budget yesterday which predominantly focused on maintaining, extending and creating new COVID-19 measures. This budget was a response to the pandemic first and foremost and, on that front, it more than delivered. Here, our commercial experts provide an overview of what the measures mean to businesses in a number of critical areas.