“Shopping centres are in an existential crisis… a turnover approach may mean short-term pain for long-term gain for some landlords, but without a shift, some retailers may close up shop entirely” so says Mark Neale of Mountain Warehouse as part of coverage of our retail occupier survey spanning 11,000 tenancies.
The past year or so has not been a great introduction for landlords to turnover leases. But in reality, the majority of the fire-fighting, makeshift agreements that have been given this name have not been worthy of it.
CoStar Column: Turnover Rents Are Not That Difficult - Ask Someone Who Has Been Using Them For Seven Years. Read the views of Matt Slade from Quintain here.
Retail was changing its leasing model but Covid-19 and the 50% increase in internet sales in one year has accelerated the process significantly. You can now vew the recording of this webinar.
Next plc have made no secret of their preferred lease structure by publishing the breakdown of their renewals in the recently published financial statement for the year ending January 2021.
Turnover-based rents will be "vital for retailers to survive." Property Week talked to us during our launch to discuss the need for change and drill into our experience in implementing the rental model. You can read the transcript of the interview and other coverage on our Media page.
As we seek to raise awareness and dispell myths regarding turnover leases and rental models please follow us on Linkedin for the latest comments and sharing of opinions.
Part of our mission is to help landlords and property owners realise that turnover leases are not paper based solutions. They need data and a different operational model, much like other industries and sports which have been successful in implementing Big Data.
Click the image above to see a recording of our Turnover Leases - Practical & Legal Considerations live webinar - 16 March 2021