The following communication was sent to shareholders on 25th March 2020.
The restrictions imposed in order to combat the spread of the coronavirus are having far-reaching effects on all sectors of society. For Corn Exchange Crickhowell Ltd it means that our tenants’ ability to pay rents, both commercial and residential, may be compromised.
Each tenant’s circumstances are different, so we are talking with each one to ascertain how they are affected, what support may be available to them from the Government or other sources, and how we as responsible landlords can assist their causes.
Where necessary, the Directors will make formal agreements with tenants to vary the terms of their leases in a way that is appropriate to their circumstances. The Directors believe these variations are necessary for the benefit of the tenants, the shareholders, and for the Crickhowell High Street, both in the short-term and in the longer term.
The situation is developing by the day as the virus spreads through the country. The Directors will keep all issues under constant review, taking action whenever it is necessary, and will keep shareholders informed as matters progress, and as more detailed information becomes available.
In the meantime, if any shareholders have any questions or suggestions concerning this notice, please do not hesitate to contact us. Keep well and please obey the governments advice concerning the pandemic.
The Board of Directors
Corn Exchange Crickhowell Ltd