Appleby welcomed Jo Watts from Watts & Co in Guernsey who shared her experiences and insights of transacting commercial property in Guernsey during the Covid-19 period.
The session gave rise to a number of discussions of legal, commercial and practical issues in relation to the commercial property market as both islands transition into their ‘new normal’.
Matters discussed included:
- loss of rent insurance policies for commercial leases where a tenant is unable to meet its rent obligations due to Covid-19. Discussion centred around the likely availability and cost effectiveness (or otherwise) of such policies and whether tenants could reasonably be required to contribute to the cost of such policies;
- issues for landlords, tenants and managing agents as business premises begin to reopen for business, including a discussion around obligations in respect of common parts and service charge obligations on landlords;
- practical constraints around landlord’s obtaining access to premises for the purposes of conducting viewings and potential remedies where tenants refuse to provide landlords with access to the premises;
- wider discussion on the enforcement of covenants generally during the Covid-19 period; and
- how the Courts have performed and the potential benefits of Jersey adopting a pre-sale phase, akin to exchange of contracts in England & Wales and conditions of sale in Guernsey.
We will be holding a further session in August. Do let us know if you would like to participate and if there are any topics you would like us to cover.
