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Landlords who fail to rent commercial properties could be forced to turn them over to someone else under a radical government plan.
The Level Up and Revitalization Bill proposes the introduction of a “high street rental auction.” This will allow the City Council to auction commercial high street property leases that are vacant for a year or more in a 24-month period.
Winning bidders will be given a one to five year lease with the landlord.
The proposal is currently in consultation until June 23rd.
The government aims to combat deserted boulevards. It said this would adversely affect the economic performance of towns and cities, risk closing businesses and forcing people to move out.
Vacancy rates in Manchester, North East Lincolnshire, Luton and East Staffordshire are between 20% and 28%.
If work needs to be done in order for the commercial property to become rentable (at least to reach EPC level), the responsibility still lies with the landlord.