According to the latest figures from research firm IPD, annualised rental values declined by an average of 1.1% over the past five years, from the market peak in December 2008. Only slightly better, rents have declined by 2.6% on an annualised basis over the shorter period of three years to December 2011.

Jones Lang LaSalle says 25% of shop leases are due to expire by 2013 and 50% by 2015.

BUSINESS FORUM COMMENT

At least part of the problem rests with retailers themselves. When rent reviews become due too few commission the services of a commercial surveyor to represent them and consequently are at the mercy of their landlords. Ironically as times become tight, they are often even more reluctant to pay a few hundred pounds to a surveyor when it could save them thousands of pounds over the review period and ultimately even save them from going out of business.