Tuesday June 2, 2020

Commercial landlords gear up for rent clashes with tenants

Second quarter rent unpaid by many retailers due to the Covid-19 crisis

Ian Guider

Markets Editor

5th April, 2020
Only Hammerson, the British property company that owns Dundrum, the Ilac Centre and the Pavilion shopping centres in Dublin, has disclosed that in advance of its second-quarter payment day just 16 per cent of rents have been received

Commercial landlords are gearing up for a fight with tenants after the second-quarter rent payment day for most retailers passed last week with many unable to pay.

While the focus among businesses has been securing payment breaks from banks, the Revenue Commissioners and suppliers, a number of major retailers have not made rental payments due to landlords to cover the second quarter of the year.

These payments for major retail centres are paid in advance...

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