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The Power Balance Is Shifting in Londonâs Commercial Real Estate
An extended winter lockdown has shaken the usual arrangement between landlords and tenants ahead of a government review of leasing legislation.
Soho is typically a bustling neighborhood in central London, but many restaurants and other businesses have gone out of business in the pandemic, leaving landlords with no income.Credit.Suzie Howell for The New York Times
Feb. 9, 2021
LONDON â For years, landlords have had the upper hand in Londonâs real estate market, pushing up rents as businesses clamored for prime locations near offices, tourism hot spots and transport hubs and as the cityâs population grew and grew. Restaurants were often locked into leases with clauses that allowed the rent to only go up. Retailers faced increasingly exorbitant rents.
The Daily Express is calling on Boris Johnson to show world leadership on the issue in the run-up to the G7 summit in Cornwall in June and the crunch Cop 26 climate change summit in Glasgow in November.
Our “Green Britain Needs You” campaign has already won the backing of the bosses of the biggest green groups who between them represent well over eight million members.
Even allowing for people who are members of more than one group, this constituency is far bigger than the one million members of the UK’s political parties.
The supporters include the National Trust, RSPB, The Wildlife Trusts, WWF, Greenpeace Friends of the Earth, the British Trust for Ornithology plus industry bodies such as Solar Energy UK and the Federation of Master Builders.
What is the future for Topshop stores? Add to Bookmarks
The looming closure of Topshop, Topman and Miss Selfridge stores, following Asos’s acquisition of the brands, marks a “seminal moment” for the UK high street, argues Jonathan De Mello, equity partner at CWM Retail Consulting.
The Asos acquisition will recoup more than £300m for Arcadia’s creditors: £265m for the brands, and £30m for current/forward stock. Around 10,000 members of the Arcadia pension scheme will face a possible hit to their retirement benefits, however, as it has an estimated deficit of £350m.
Asos will not be taking on the 70 physical stores, although it will retaining 300 head office jobs (design/product-related), which leaves around 2,500 jobs at risk.