Many restaurant and licensed trade operators will be looking at car parks, service yards and other outdoor areas with a view to using these for impromptu outdoor restaurants, cafes or pop up bars as the hospitality industry in Scotland gears up for the provisional re-opening date of 15 July. While there will be an understandable rush to get venues ready for any change in the lockdown, and the authorities are showing a willingness to be flexible, there are still potential pitfalls with serious repercussions for operators.
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Latest articles from John Meehan
Our Commercial Real Estate team has been looking at some of the main concerns for our property clients in Scotland, and in our most recent bulletin you'll find below have laid out some useful guidance on the big issues.
Generally speaking, many UK insurers define a commercial property as being "unoccupied" if it is empty or not being fully utilised for business purposes for a continuous period of 30 days. Some insurers have extended the period to 60 days due to the current lockdown, but owners of such properties should carefully check their policies and contact their providers to be sure that they remain covered.
Many development agreements and land acquisition agreements contain suspensive conditions setting out deadline dates for certain events to occur or actions to be taken. But what can developers do about deadline dates passing during lockdown?
So you've struck a deal to buy a site and pass onto your lawyers the terms of the deal with the expectation that a signed contract is just round the corner to cement your preferred bidder status. Then the lawyers burst your bubble with a series of questions: "what do you mean by that ...?" For deal-doing developers, these questions, however irritating, are a necessary ingredient for a binding contract.