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Pleas to landlords

Catherine Deshayes

Sir Philip led a group of retailers in asking landlords to consider pleas for help in the tough economic climate...

The meeting took place yesterday morning and is thought to have included landlord representatives from landlords such as Land Securities, British Land and Aviva Investors.

No parties present at the meeting would comment on the proceedings but it is thought Sir Philip made it clear that the plea for retailers to pay rent monthly in advance as opposed to quarterly in advance was on the back burner in preference of discussions on reductions in service charge, lease lengths and rent rises.

The meeting also agreed the group would meet again to discuss issues and that a dialogue would be maintained between retailers and landlords in order to reach some conclusion on the issues discussed.

In a joint statement, Land Securities and Arcadia said, 'The meeting was constructive and recognised the need for closer co-operation, particularly in current economic circumstances.

'As a result of the meeting a small working group is being set up with representatives from, amongst others, Arcadia Group and Land Securities to address property lease issues and other matters of mutual interest to owners and occupiers of retail property.

Further significant developments on this issue will be updated in due course.'

Source: www.propertyweek.com