A radical change to how shops pay rent could rescue the nation’s High Streets, experts say. Linking rent to takings would save crisis-hit retailers vital money during tough trading periods, it is argued.
Most stores pay a set amount to landlords every three months, with the figure generally rising each year. But with many shops struggling even before coronavirus struck, there are growing demands for a new deal.
So called “turnover rents” are already commonplace in the US. And independent retail analyst Richard Hyman said “they could well become the norm” here too.
Another analyst, Clive Black from Shore Capital, said the idea was also in the interests of landlords, who are facing an “existential threat” due to retailers going bust. “They
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