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With many retail landlords keen to reduce their business rates liability, many are turning their attention to ‘pop-up' shops says commercial property agent Prop-Search.
Apart from the clear benefits for the landlords of rental income at the earliest opportunity, a short-term let can allow the flexibility to seek a more permanent tenant at the same time. There is a possibility that a short-term tenant will become a longer term tenant if the unit trades well and, particularly in shopping centres, it has the benefit to other traders by maintaining or improving footfall and customer numbers.
Samantha Jones, a surveyor at Prop-Search, adds: “These temporary lettings can offer the opportunity to fill vacant outlets and ease the burden of costs associated with empty units. This could particularly be a factor many landlords will look to consider following the administration of Clinton Cards with 350 plus units coming vacant.”
Many charity, art groups and retailers, even national occupiers consider pop-up temporary units. The key opportunity generated through short-term lets is that the viability of a particular store can be established without the costs associated with a long term lease and expensive fit out costs.
Further information or advice can be obtained from Prop-Search - Tel: 01933 223300 or its website: www.prop-search.com