Service Areas: Commercial Property
Meanwhile Leases – Short-term Letting for Vacant Commercial Properties
Steeles Law Head of Commercial Property Michael Fahy is reported in the recent edition of the Solicitor’s Journal commenting on the use of 'meanwhile leases' to alleviate the issue of vacant commercial properties.
The article discusses the growing problem of empty commercial units, which has led the Department for Communities and Local Government to produce a form of lease known as a ‘meanwhile lease’. The idea behind meanwhile leases is that they can be used by landlords to let vacant shops and units primarily to non-commercial tenants such as community groups for short-term lets. There is no reason why private landlords should not also make use of these leases.
Michael discusses whether this initiative will have any significant impact on the high street and explains the benefits for landlords.
He believes that professionals in the property sector should, at the very least, consider such leases and whether they should be recommended to clients.
To read this article in full click here.
To contact Michael Fahy phone 0207 421 1720 or email mfahy@steeleslaw.co.uk
Published:
12 May 2010