13th Jul 2022 11:39
First Property Group PLC - London-based property fund manager and investor - Wins rent arbitration case against Signet Trading Ltd. Explains that its fund, Fprop Offices LP, owns an office complex in Hertfordshire in which Signet leased four floors. Says Signet claimed that these offices should be protected from rent debt under the Commercial Rent Act 2022, as relief due to the Covid-19 pandemic.
Says a ruling by Falcon Chambers Arbitration decided that the offices were not affected by the Covid-19 closure requirement. States that Signet was ordered to pay GBP448,043 due under its lease.
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12-month change: down 5.7%
By Abby Amoakuh; [email protected]
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