The rent deferral will cover the months of April, May and June 2020 and the scheme then reviewed to see if it needs to be extended. The outstanding rent would be paid back over a period up to the end of March 2022.
We own and maintain a number of small business units, larger units and the Markham Vale Environment Centre. The total annual rental income across this portfolio amounts to nearly £2 million a year and the rent deferral would reduce this by nearly £0.5 million with the money being recouped at a later date.
All businesses applying for the rent deferral would be assessed to check that they will be able to repay the rent over the longer term.
Our Council Leader Councillor Barry Lewis said:
“We welcome the support being given by government but we cannot underestimate the impact coronavirus is having on our local businesses and we’re keen to do what we can to help.
“We’ve been getting enquiries from our tenants about how we can assist them.
“We hope that a rent deferral and the other measures we are introducing will help to keep these companies in business and once the crisis is over they can continue contributing to the vibrant economy of our county.”
Find out more about the support available to Derbyshire businesses.