WHITMAN & CO COMMERCIAL

The period between Christmas and New Year is often a cathartic one; reflecting on the year that has passed and setting objectives for the year ahead.
For Chartered Surveyors it is also the period for ensuring they have logged their compulsory 20 hours of annual CPD (Continuing Professional Development) with the RICS (Royal Institution of Chartered Surveyors) before 31st December. For me it is also the date for payment of my annual Professional Subscriptions (almost £700 as a Fellow).
Whilst this is a chore, and quite a lot of money, I still take pride in doing so each year. It is a...

So was it worth the wait?
We had been told for some time that the Chancellor would provide an update on Business Rates Relief and Grants in the Spring Budget, and yesterday we heard that the current 100% relief, to businesses in retail, leisure, hospitality, and now nurseries, will be extended for a further period of three months, until the end of June 2021.
Thereafter, it gets a bit more complicated, but for most small and modestly-sized businesses there will be continued relief, to the tune of 2/3 of rates payable, through the remainder of the 2021/2022 rates year (to 31st March 2022).
For...

The Government has today announced an extension to the commercial rent moratorium until 31 March 2021. This is not a surprise, because it is a means for protecting business at very limited expense to the Treasury.
It is also much-needed by many occupiers, whose cashflow has been very significantly impacted by inability to trade during lockdown, and for whom Christmas trading offers an ability to perhaps replenish the coffers.
It is however on the other hand difficult for many landlords, particularly private landlords who rely upon property investments for their pension income, or who have...

In the commercial sector, business continued through the lockdown, although one or two deals did fall by the wayside, or were considerably delayed.
 
 Sadly, we have had to provide advice to a number of businesses for whom the pandemic has been extremely difficult. This has extended to both landlords, who have received little financial support, and to tenants (particularly in the retail and leisure sectors).
 
 Perhaps the sector most-structurally impacted by the pandemic has been the office sector, obviously with so many people working from home. We do not think...

These are worrying times for us all, both in business and at home. Our first priorities should be for our health, but there are significant economic uncertainties to which people are also seeking answers.
We offer some high level comments and guidance, in these unprecedented and fast moving times, aimed particularly at small businesses who are impacted by cash flow problems.
We recognise that problems may be exacerbated by the imminent March Quarter Day (25th March) when many businesses will be expected to make the quarterly rent payment in advance.
Government Support
The Chancellor...

I have been observing retailing on the High Road, and Chiswick’s other fabulous retail streets, from a different angle since I joined the commercial business at Whitman & Co a couple of months ago. I thought I would write my first blog about the retail sector, as I have found it has been a dominant focus so far, with a string of enquiries - from all sorts of directions.
Backdrop
You only have to turn on the morning radio to hear of the woes facing the UK High Street. This is a national, even global, issue - as a result of the rise in online shopping and changes in habit. Last week...