Lines
Lines

GoG announcement on Rent Discount and Rent increase

RENT DISCOUNT SCHEME

Her Majesty’s Government of Gibraltar (HMGoG) has confirmed that the rent discount scheme operational in April and May 2020 will be extended one final time to 30 June 2021. The scheme applies to prequalifying commercial tenants of private landlords as well as HMGoG’s commercial tenants.

This confirmation follows the announcement on 15 April 2021 when HMGoG extended the measure to the end of May at the request of the Chamber of Commerce and agreed with them to further review the position for the period to 30th June 2021. That review has now been concluded and a decision has been taken to extend the scheme one last time, to 30 June 2021.

Government is extremely grateful to private sector landlords who have stood shoulder to shoulder with Government in supporting local businesses to withstand the chronic challenge of this pandemic. This has no doubt been a significant burden to landlords but they have assisted Government and sustained their tenant’s businesses by providing these discounts.

The rent discount scheme will not be formally extended beyond 1st July. However, HMGoG encourages private landlords to work closely with their tenants over the coming months and to consider extending varying discounts on a case by case basis to further support their tenants in the coming months as Gibraltar works to recover business levels to normality.

MORATORIUM ON RENT INCREASES

HMGoG has also confirmed that the moratorium on rental increases to HMGoG commercial tenants will be extended to 31 December 2021. The moratorium was last covered in HMGoG’s press release of 9 April 2021, where it had been extended to 30 June 2021. On further reflection, HMGoG has sought to defer the rent reviews to its own tenants until no earlier than 1st January 2022. Therefore the Government can confirm that any commercial entity which has been invoiced a rent increase as from 1 July will now receive a credit for the equivalent amount.

RATES

The additional 25% early rates payment discount that was previously applied to all certain business sectors has also been extended to all business sectors for the next quarter (to cover the period 1 July 2021 to 30 September 2021). This discount does not apply to supermarkets and pharmacies.

The Chief Minister, the Hon Fabian Picardo QC, said: “I truly appreciate the huge effort our landlords have made in extending rent discounts to their tenants at this challenging time. This is a prime example of how our community pulls together and I am confident that given time, we will all emerge stronger. Gibraltar has started to see tourism return and the spending power that these tourists bring with them is warmly welcome. As our businesses recover, the need for Government to legally enforce a rental discount scheme dissipates. This will now be the final period for the rent discount scheme at law. But we do hope that landlords continue to work with their tenants to apply the rent discount scheme on a case by case voluntary basis.”

Lines
Small Lines

SHARE THIS

Lines

OTHER NEWS

http://www.police.gi/1/index.php/rgp/project-servator-link/project-servator.html

PROJECT SERVATOR “In today’s climate, security should be everyone’s business, and our community has a key role to play. We can ALL be Gibraltar’s Eyes & Ears by trusting our […]

The GFSB is happy to announce the opening of applications for next years (2022) GFSB Business Innovation Award sponsored by Gibtelecom. The online application form can be found on our […]

The Main Street & Surrounds BID Business Plan is going to ballot next month! Here’s George Russo, BID Task Group Chairman and Director at International Franchises Limited on why his […]

For more detail please check out our social media pages. BEAT 5.0: GOVERNMENT ANNOUNCES INCREASED BUSINESS SUPPORT MEASURES FOR JANUARY 2021 – 25/2021https://www.gibraltar.gov.gi/press-releases/beat-50-government-announces-increased-business-support-measures-for-january-2021-252021-6568

The highly coveted #GibraltarSustainableAwards were held on Wednesday 8th July 2020 at the University of Gibraltar for the second year running and in collaboration with the Gibraltar Federation of Small […]

Has the time come for sweeping reforms to the existing law? The GFSB are organising two Town Hall style meeting events that will be held in the GFSB conference room […]

Brexit was the word on everyone’s lips at the GFSB’s Annual Gala Dinner in March this year. As members gathered at the bar of the Rock Hotel’s Khaima Restaurant making […]

Conference Room Facilities 2 Image

The Gibraltar Federation of Small Businesses held its Annual General Meeting on 28th February at its Irish Town offices. Despite the severe weather, GFSB members turned out to receive a round-up of activities during the past year, to examine the organisation’s annual financial statement and to discuss plans for the upcoming year.

Due to the amount of information being released each day the GFSB felt it was best to set up a dedicated COVID-19 webpage to keep all our members up to […]

Sponsored by Gibtelecom The GFSB is delighted to announce that the WINNER of the GFSB Business Innovation Award 2020 is EBike Gibraltar who wins £2,000 of telecoms and IT products/services sponsored by Gibtelecom. […]

The GFSB has partnered with OTWO Magazine to celebrate World Environment Day. We invite local businesses to participate in the Green Window Shop Competition.

The Chamber and the GFSB welcome the initial economic measures announced by the Chief Minister yesterday in order to help businesses during this crisis. The measures announced are a good […]

This is to let you know that the study on late payment in B2B transactions is now published.

The property market is facing new challenges as the outcome of the UK-EU agreement on Gibraltar is causing concern. In an interview with David Revagliatte for the Gibraltar Business Podcast, […]

Please click on the link with information on the refuse holding areas around the Town centre that are being serviced at 2 pm Monday – Saturday:  Refuse holding areas Please […]

The Data Protection Commissioner is responsible for the enforcement of data protection law in Gibraltar and upholds the rights of individuals and their privacy. To help organisations comply with data […]

The Business Improvement District is inviting expressions of interest in the Project Head role. The Project Head role will provide leadership and day-to-day management of the BID Company, working in […]

These codes will serve as best practice guidance for businesses that retail goods to ordinary end consumers. While it is noted by the OFT that most reputable retailers in Gibraltar […]

The Gibraltar Federation of Small Businesses (GFSB) welcomes the introduction of the Fair-Trading Act 2023 which comes into effect from the 1st of October. This reformed legislation promises to simplify […]

Jennifer Karpa has been admitted as the newest partner at Moore Stephens in Gibraltar. With a prominent 18-year career spanning continents and industries, Jennifer's appointment is a testament to her vision and ability.