Blackstone and Telereal Trillium’s Arch Company is to provide small businesses occupying its portfolio railway arches the opportunity to defer their rental payments for up to three months while they await government support.
Businesses that are severely impacted by the Covid-19 outbreak who pay their rent quarterly will also be allowed to switch to paying monthly.
In addition, a new Coronavirus support unit will be launched next week to help tenants access the government’s support, and the Arch Company will work with its tenants on a case by case basis to provide support.
Adam Dakin, manging director of the Arch Company, said: “We are very concerned about the effect of the coronavirus outbreak on our long-standing small businesses, particularly those in the retail, hospitality, leisure and overseas travel sectors. They employ thousands of people across the country and we want to make sure that they are not forced out of business due to the huge pressure on short term cash flow.
“Before coronavirus, the Arch Company represented a thriving community of successful small businesses. We want to do our best to keep that successful business community intact for when this crisis is over.”
See also: Howard de Walden offers monthly rental payments to tenants
See also: Argent to grant rent freeze to King’s Cross tenants
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