The bosses of British Land and Landsec have repeated calls for a six-month negotiation period to hash out a plan on rent arrears.
The moratorium is due to end on 30 June, and Landsec’s Mark Allan and British Land’s Simon Carter say a path forward on accrued rent arrears needs to be agreed before then.
Along with the BPF they are proposing ring-fencing arrears accrued before June 2021, while lifting the moratorium for rents from June onwards. Owners and occupiers can then use the ring-fence period of six months to negotiate an agreement over the arrears.
If this proves unsuccessful, “the third and final element is a defined backstop of binding arbitration, to encourage all parties to negotiate constructively and in good faith”.
