Who is Affected?
This legislation affects all aspects of the commercial property market across all sectors – retail, offices and industrial.
Empty rates affect:
- Landlords by impeding their ability to develop and regenerate or to support tenants through the difficult economic climate
- Tenants by reducing their ability to cut costs by vacating and consolidating premises
- Pensioners by eating away at pension funds' investments in UK commercial real estate and individual pensioners' investments in commercial property
- Local councils by taking our council tax and giving it to the central government for any empty premises that they own
- You by forcing companies to cut jobs since they can no longer save money by vacating property and making regeneration schemes impossible
British Property Federation papers
