It's a tough time for many retail and leisure clients, with shops closed, and staff on furlough.
In an effort to cut costs, many tenants are seeking reductions in their rent, or in extreme circumstances, withholding payments altogether. We've heard from a number of tenants and landlords facing this.
Most leases are unlikely to contain specific rent reduction provisions in the event of a global pandemic. From a landlord's perspective, agreeing to a rent reduction will often depend on whether they see the tenant needs that cash saving in order to survive, and therefore support the longer-term rental prospects.
Each situation will be different, and we will happily give our professional input to anyone dealing with these issues.
The owner of Ladbrokes and Coral has dealt a fresh blow to beleaguered high street landlords by refusing to pay rent on more than 3,000 shops