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News - 8 August 2008
Retail bosses take landlords to task
Sir Phillip Green and Lord Harris plan to hold a meeting within the next month to challenge landlords on the rents and service charges that they impose on retailers.
According to a report in the Financial Times and as reported on this site in July (see earlier story) the retailers will also discuss payment terms favouring monthly rather than quarterly terms particularly as payment is always due in advance.
The retail tycoons also plan to discuss rent reviews with a view to changing the common practice of upward only rent reviews currently in force and the possibility of introducing more flexibility around leases for example the potential for shorter 10 year leases.
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Harris, Lord Philip