Welsh Government announces extension of moratorium on forfeiture for non-payment of rent

3 September 2021

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Welsh Government  has announced that the moratorium on forfeiture for non-payment of rent due to Covid 19 pandemic is to be extended from 30th September to 25 March 2022.

This announcement brings Wales in line with the protection given to commercial tenants in England announced by UK Government in June.  The Welsh Government encouraged tenants to pay rent where able to do so.  It will consider how it intends deal with the issue of commercial rent arrears built up during the pandemic over the coming months and will work with the UK Government on these proposals.

Philip Angell, Director of Property Management at Cooke & Arkwright, commented “This announcement was expected as it would have been surprising if Welsh Government offered less protection to commercial tenants than their Westminster counterparts”

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