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Moving from Coronavirus Support to Coronavirus Recovery
The Arch Company has pledged to continue helping its small business tenants as they recover from the crisis caused by the COVID-19 pandemic.
With lockdown restrictions now easing, small businesses that have accrued lease arrears due to the crisis will be supported as they re-open.
The Arch Company is aiming to contact every tenant in arrears to agree payment plans before 30 June.
Any tenant who is behind on their rent payments and still struggling with cash flow, or has an upcoming deadline for a deferral or deposit top-up that they cannot afford, should visit our Covid Recovery Unit for further information on payment plans and other assistance.
The Arch Company will continue to abide by the government’s code of practice for the commercial property sector, which states that ‘tenants who are in a position to pay in full should do so. Tenants who are unable to pay in full should seek agreement with their landlord to pay what they can… This will allow landlords to support those tenants who are in greatest need.’
Managing Director Adam Dakin said:
“Our small business tenants have shown incredible resilience to get through the last year, helped by government measures and our financial support for the hardest hit. We will take the same approach during the recovery from COVID-19 as we have done throughout – supporting those most in need.”
1,450 small business tenants received rent free periods to help them through lockdowns and hundreds of others have been offered other forms of support, such as rent deferrals.
Official occupancy statistics published in December 2020 showed there were approximately the same number of tenants in the arches as a year before, partly thanks to The Arch Company’s £10m Hardship Fund.