TfL: ‘We will give our tenants three months rent relief over coronavirus’

Josh Salisbury (20 March, 2020) Transport

Borough station is currently closed, and Bermondsey and Southwark are expected to follow suit

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All small and medium business currently renting from TfL will get a 100 per cent rent relief over the next three months.

Businesses in stations that have closed will also not have to pay rent, it says.

Borough station has already closed, while Bermondsey and Southwark stations are expected to close in the near future.

The move will start from March 25. “We are doing everything we can to ensure that businesses across our estate are supported during this extremely difficult time,” said transport commssioner, Mike Brown.

“The majority of these businesses are small and medium enterprises, who will be particularly hit by the drop in footfall across London – my team and I will continue to review what support we are providing.”

LIVE UPDATES: Coronavirus in Southwark rolling blog – read here for all the latest updates throughout the day

The Federation of Small Businesses has called on other landlords across the capital to follow similar moves, as businesses struggle with cash flow during the crisis.

“These are decisions that need to be made at this time and we call on all landlords across the capital who house small businesses to follow suit as cash flow as this time is critical,” said Michael Lassman, the Federation’s London chair.

 

 

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