As of Monday 2 December 2024, local authorities are able to let out empty high street properties via auctions without their owner’s consent, leaving landlords facing significant costs.
In articles for CoStar and Facilities Management Journal, real estate counsel Jennifer Chappell outlines the impact these regulations may have on landlords.
These local authority-led auctions can be forced on landlords of shops, offices, restaurants, cafes, bars, community halls and manufacturing premises. ‘High streets’ are also widely defined to include property sitting on a designated high street or town centre or whatever a local authority considers to be suitable for high street use.
Jennifer Chappell
Real Estate Counsel
The full articles can be read on the CoStar and Facilities Management Journal websites.
