Business support has been given to the retail sector in an incredibly sensible undertaking by the freehold landlords of commercial properties in the UK.
This is something which should definitely have been put in place in the recession of the late 80’s. Instead, then, they increased the rentals to add another burden to the already suffering retail business owners, pushing them out of business altogether.
The landlords benefit, of course!
Read the following acticle for more information …
“You can’t get much for a £1 these days, unless it’s on the high street.
High street landlords across the country are offering bargain basement rents of £1 a year to save them paying business rates.
The offer was made to those stores which are on high streets with a very low vacancy rates and were due to close when the lease expired.
As long as the tenant pays the business rates, they can stay as this tax, which can be up to 40 per cent of the rent, falls to the landlord if the building is empty.
Card Factory, told the Independent it had ‘business rates only’ deals on some of its 600 stores.
