Rental Auctions - What Is Proposed & What Are the Issues?
When the government indicated its intention to introduce rental auctions in relation to retail properties which had been vacant for a substantial period of time, a number of questions leapt to mind.
If a landlord intends to redevelop a property, will this exclude it from the scope of the scheme? If there is only one bidder, will the landlord be required to grant a lease at whatever rent the individual bidder is prepared to pay? How will service charges be dealt with? Would a landlord be permitted to favour a bidder that can produce a guarantor over one that cannot? Could a landlord choose to grant a lease to a bidder that is prepared to take a longer lease, but at a lower rent?
Now that the Levelling-Up and Regeneration Bill has been published, and the detail of the proposals is known, consideration can be given to these issues, and how to respond.
What You Will Learn
This webinar will cover the following:
- What properties will fall within the scheme
- What the qualifying requirements will be
- Whether there may be effective avoidance mechanisms
- What the proposed mechanism is, and how it will work
This webinar was recorded on 5th July 2022
at your organisation