British Property Federation news and archive

BPF calls on government to extend business rates relief for vacant lots

The British Property Federation (BPF) has called on the UK government to extend the period of business rates relief for empty properties from three to 12 months as shop vacancies in the region continue to grow. Currently, owners of vacant properties have a three month exemption from business rates to allow time to upgrade and re-let stores,...

Retail

The British Property Federation calls for overhaul of UK insolvency rules

The British Property Federation (BPF) has written to the government urging it to overhaul UK insolvency rules. In a letter to corporate responsibility minister Lord Callanan, the group warned that the flexibility of the UK’s insolvency framework had led to an “abuse” of CVA processes which disproportionately impacted commercial landlords. A long...

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Business

New Look CVA proposal fails to meet best practices standards, says BPF

The CVA proposal launched by New Look this week which aims to switch the majority of its store estate over to turnaround-based rent does not meet best practices standards, The British Property Federation (BPF) has warned. Under New Look’s CVA proposal, outlined on Wednesday, 402 of its stores would be switched to a turnover percentage of up to...

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Business

Property industry latest to urge for rates reform

Two leading property industry trade bodies, the British Property Federation (BPF) and British Council of Shopping Centres (BCSC) are following in the footsteps of the Confederation of British Industry and urging the government to significantly overhaul the current business rates system. In a joint statement, the two organisations state how “...