Commercial landlords have been put under serious strain by the government’s extension of the moratorium on commercial rent arrears and premises recovery to 25 March 2022. With the prospect of meaningful enforcement kicked further down the road, it is little wonder that the UK’s commercial landlords have received as little as a fifth of the rent due on time. Just 21% of the quarterly rent due was received on time last March. Total arrears across the sector are now estimated to be in the region of £6bn.

The proposed extension is clearly unwise since, if the parties cannot agree on a resolution now, they are unlikely to be able to agree early next year when yet more arrears have accrued. The extension is therefore only storing up pain for landlords and tenants alike.