London | Commercial Property Grants - Covid

Published: 05/01/2021

The Government today announced £4.6 Billion to Support Business & Jobs.

The Government today announced £4.6 Billion in NEW lockdown grants to support businesses and protect jobs throughout London & the South East.

If you have a business or commercial property in Croydon, Epsom, Crawley, London or the South East Read On.

  • The Chancellor announced a one-off top up grants for Retail, Hospitality and Leisure businesses worth up to £9,000 per property to help businesses through to the Spring
  • £594 million discretionary fund also made available to support other impacted businesses
  • comes in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme
The above follows the Prime Minister’s announcement last night that these business will be closed until at least February half-term in order to help control the Covid virus. The cash support is provided on a per-property basis

An additional £594 million is also being made available for Local Authorities to support other businesses not eligible for the grants, that might be affected by the restrictions. Businesses should apply to their Local Authorities.

The new one-off grants come in addition to billions of existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.

The government has also provided 100% business rates relief for retail, hospitality and leisure businesses, £1.1 billion existing discretionary funding for Local Authorities, the furlough scheme now extended to April and 100% government backed loans, extended until March.

The one-off top-ups will be granted to closed businesses as follows:
  • £4,000 for businesses with a rateable value of £15,000 or under
  • £6,000 for businesses with a rateable value between £15,000 and £51,000
  • £9,000 for businesses with a rateable value of over £51,000
  • business support is a devolved policy and therefore the responsibility of the devolved administrations, which will receive additional funding as a result of these announcements in the usual manner:
RAB Commercial Property specialise in the sale and letting of all types on commercial property, Warehouse Units, Shops and offices throughout Croydon, Sutton, Mitcham, Surrey, London and the South East.

If you are considering selling or letting your property please give us a call. 

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For more information please contact :
Richard Braysher
(t) 020 3751 2775
(m) 07788 274312
richard.braysher@rabcommercial.com
www.rabcommercial.com


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