11/27/2008 12:00:00 PM
Landlords’ deals tempt retailers
Operators looking to snap up more stores are enjoying strong deals with retail landlords as non-mobile retailers start to close stores.
Previously unknown benefits from landlords are being offered to all of the operators who are looking to open more stores. Companies are being tempted with rent-free periods, cash to fit stores and the flexibility to break leases within five years instead of the standard 10.
A property agent said: ‘It’s a buyer’s market. Landlords are desperate not to change the headline rents but are offering things to sweeten the deal.’
Vodafone, Orange and T-Mobile are looking to open more stores, and all of them have stated the opportunity to secure favourable deals.
It contrasts sharply with landlords restricting the number of mobile retailers in shopping centres to maintain the ‘retail mix’ of stores two years ago.