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Retailers angry over new goverment diktat

31
Mar '08
"Cutting rate relief will be a major blow for those striving to deliver sustainable communities. It's in no one's interests to leave property empty, but the realities of the current market mean that new developments will see a certain percentage of vacancies and it's unfair that those very investors prepared to deliver Government policies should be penalized and ultimately priced out of regenerating our country."

The Government claims the measure is being introduced to boost occupancy rates and encourage regeneration.

Industry says it will do the exact opposite by:

Putting developers off risky projects where property may take time to fill, undermining investment in deprived communities most in need of regeneration.

Discouraging refurbishment of obsolete property with owners unable to bear the cost of it standing vacant while work is done.

Conflicting with the, Government-backed, Leasing Code of Practice, meant to promote flexible leases.

British Retail Consortium


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