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Cash Grant for Retail, Hospitality and Leisure

eligibility of retail tenant if they had already given landlord notice leave for another property

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This question has been asked by a few commercial landlord clients :

Retail tenants in retail premises in situe on 11th March 2020 (paying business rates) and therefore eligible for either a 10k or £25k retail/hospitality grant (grant per hereditaments/property dependnt upon rateable value). It is my understanding that the grants are there, not only to support the retailer, who has had to close due to covid19, but also to support the whole chain of their business line : ie the retailers suppliers and landlords who ultimately are not receiving support . Once the grant is received by the tenants - it is very un- likely that another grant for the property would be given again (unless covid19 support is extended further). Does anyone have any idea how the grant is likely to be administered - ie monthly or as one cash lump and maybe how long this grant was intended to fund (ie 3 months / 6 months?).  Landlords are concerned that tenants who may have already planned or have given notice to leave a building say in April or May or those who may have already had plans to not continuing their business after 31st March and planned on exiting the retail premises, would be eligible to receive this vital grant funding, which then in turn may not pass through direct supply line to that business/property to help all those companies in need? At present i dont think retailers have to apply to councils -as local councils will be administering the grants based on details of the rate payer on the 11th March. Any thoughts would be appreciated by reply posting...so i can advise landlords / non retail chain suppliers accordingly. Thank you

 

 

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ALISK
By atleastisoundknowledgable...
28th Mar 2020 12:42

You’ve answered the question yourself. If the tenant met the eligibility criteria on 11/3/20 they get the one-off grant to do with what they want.

I don’t see what confusion there is.

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By lovelifeNicky
28th Mar 2020 14:02

There is no confusion on eligibility it appears from Government websites that 11th March is the date for eligibility. Its more landlords/suppliers concerns that the grants are there to support an existing tenants running costs - and hence the retail grant becomes a benefit down the business line to the tenants suppliers and landlords of the tenant. Some types of businesses will receive grants, but other suppliers or landlords will not. However, if the tenant was already planning to leave the property in April - the tenant could go out and use the grant for something else (non retail related) or even cease trading and hence the Government grant does not effectively do what it was supposed to do which is support the retail business and its suppliers and keep the economy ticking . The question is .. does anyone know more about the scheme, how it might be administered ?

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