Property litigation partner Paul Greatholder has been quoted in a feature in the Law Society Gazette which considers whether 70-year-old landlord and tenant legislation is still effective for landlords and tenants operating in today’s commercial property market.
The article describes how the sector has undergone transformation in recent years and explores the debate amongst litigators over whether the 1954 Landlord and Tenant Act is ripe for reforms that reflect these significant shifts ahead of the Law Commission’s review due later this year.
While critics of the legislation in its current state argue the commercial leasehold market has changed dramatically since the 1950s, those opposing reform say the legislation affords landlords and tenants security, and modernisation would lead to a period of uncertainty.
Commenting on the struggling retail sector, Paul says:
The market is tight, and the narrative about the decline of the high street continues apace. We see that with retailers that are in difficulty. The country has been in a mild recession for a few months, so of course people are going to have less money to spend. We are having regular conversations with landlord clients to be super-alert as to what’s going on with their retail tenants, by carrying out the sort of due diligence that generally only comes up in a transaction.”
And as to whether reform will happen, he concludes:
I’m not sure if it will happen...Even if there is a report, what the political appetite is for doing something is difficult to assess right now."
The full article can be found here.
Paul Greatholder is a partner in the property litigation team advising businesses, charities and individuals on all kinds of property dispute. He has particular interests in business tenancy law, restrictive covenants and rights of light.
Get in touch
If you would like to speak with a member of the team you can contact our property litigation solicitors by email, by telephone on +44 (0)20 3826 7525 or complete our enquiry form below.
