A shopping centre landlord has argued that the government’s small business rates relief due to be introduced in April will give only the tiniest respite to embattled town centres.
Ellandi, which has more than 1,000 shops from Cornwall to Northamptonshire in its portfolio, appointed Montagu Evans, the property consultancy, to assess the measure’s impact. It found it would reduce the Ellandi tenants’ total rates bill of £37 million by only £700,000, or less than 2%.
Business rates are based on the value of property occupied. The high street retail sector has been campaigning for reform of the system, which it says gives online retailers an advantage.
