4/15/2009 10:56:00 AM
Retailers set to use further price cuts on property to expand
Mobile retailers are poised to take advantage of an agreement between Britain’s biggest property groups that will see retail prices fall by around 20%.
Landlords, including British Land and Land Securities, have agreed to drop prices with retail tenants, many of which hope to pay rent monthly rather than quarterly.
Several mobile retailers intend to take advantage of cheaper prices to fund expansion. Orange said it had a strategy to expand in retail, but nothing formal has yet been confirmed.
In March, Mobile reported that mobile retailers were already cashing in on cut-price leases in shopping areas where up to 15% of sites were empty.
Orange, Vodafone and Virgin are among the mobile firms using the price cuts to fund store expansion.