There have been some dark days on the high street. It’s not just the tenants who feel the struggle of having to stump up increasing business rates, less footfall, and having to compete in an online environment. Commercial landlords tend to bear the brunt of all these issues and being left with an empty viable property can be painful.
This uncertain uneconomic climate, borne from different factors, including Brexit, has concerned commercial landlords for a considerable time. Figures from CoStar disclosed that in summer 2019 investment in the commercial sector had fallen by a third. The rocky nature of the market in December 2019 saw £57m withdrawn from UK property funds.
This market makes it difficult for commercial landlords to sell their asset when it’s left vacant. Additionally, the management of the building becomes an issue at that point, which can be costly. So how can this scenario be prevented? It may be wise to keep a property occupied during uncertain times, so how can commercial landlords retain their commercial tenants and mitigate any economic issues?
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