Retail Trade: Empty Property
The question
To ask the Secretary of State for Housing, Communities and Local Government, whether compensation will be payable to owners where councils exercise powers to take over empty high street premises.
Answered by Nesil Caliskan
High street rental auctions empower councils to auction the lease of persistently vacant premises. Throughout the process the landlord retains ownership and will receive the rent generated through the tenancy, thus financially benefitting from secured occupation.
In June, the Government announced £10 million of funding for local authorities in England to refurbish vacant properties and tackle high street eyesores where landlords cannot meet the cost of repair.
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