I have heard that rents are going to coming down because of the tough economy and because of all the new centres opening. I want to open a couple more stores but I wonder if I should hold out and see if I can get a good deal on rent. Also, what sort of incentives should I expect from landlords at the moment?
Nigel Poad, CEO leasing director, Modus Venture Ltd:
Clearly the current market conditions market conditions are making everybody reconsider pricing and landlords are no different. I am certain there are a number of landlords out there that are desperate to find tenants and will offer very attractive packages to entice them in!
The huge amount of new retail space that is currently coming to the market does put the retailer in a strong negotiating position and I am certain that many are taking advantage of this. What is good to hear is that retailers like yourself are still looking to expand, which is the sort of good news we all want to hear.