‘At the best of times there are disputes between commercial landlords and retailers in England and Wales. Over the last month the effect of the Covid 19 public health crisis has laid waste to the high street. Most shops cannot now open, and the ones that can must implement stringent social distancing measures. All pubs, restaurants, cinemas and so on are closed. Where there is no footfall there is no spending by customers and no income generated to pay rent. No one at the time of writing knows exactly when this position will change. The present scenario presents an unattractive vista for commercial landlords. Nothing operates in a vacuum; the rent these landlords were expecting will be income for investors who may own a small retail building and have no other source of income. Large pension funds, who often invest in the high street, will continue to have the normal financial obligations to the members of their fund. Some landlords will be reliant on their commercial rental income to service a loan secured on the building they rent out.’

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33 Bedford Row, 9th April 2020

Source: www.33bedfordrow.co.uk