Relief in Retail

At the beginning of the Covid crisis you may remember I wrote a few times on the need to switch away from upwards-only rents to a more nuanced approach for retail based on turnover. Fair to say I did not get universal support for this and a few people pointed out that some shopping centres had tried this already.

However, I am still pleased to see the Crown Estate is to pursue this strategy in Regent Street (where I work, so will be able to give regular updates as to how it is working out) - see here.

This approach shoudl work for the low income restaurants and shops that are not going to bounce back for a few months yet to anything like pre-Covid normal.

It will be interesting to see if this strategy works, or whether business is just too bad to continue for many of the independent retailers.