Wales’ extension on moratorium for commercial rent arrears due to end six months before England’s

20 July 2021

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The Welsh Government has announced that the moratorium in Wales against forfeiture for the non-payment of commercial rent will now be extended until 30th September 2021. It was originally due to end on 30th June 2021. The moratorium in England has been extended until 25th March 2022.

Although this restricts the options open to landlords to recover arrears that have arisen due to the pandemic the government says they should continue to pay rent wherever possible and it is in the interests of both landlords and tenants to reach negotiated agreements on any arrears.  The Welsh Government says it will consider the matter further for Wales in the months ahead.

Philip Angell, Director of Property Management said, “I welcome the fact that The Welsh Government has not gone as far as the UK Government as I do not think a blanket moratorium across all sectors targets support where it is needed most. There is undoubtedly a huge rent debt problem that needs to be resolved but this can only be put off for so long.  The Welsh Government will keep this under review and could, of course, further extend the moratorium.” 

The UK Government recently announced how it intends to deal with the issue of commercial rent arrears built up during the pandemic.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group