The Howard de Walden Estate has agreed to switch to monthly rental payments for occupiers “where appropriate”, as retailers suffer a drop-off in demand owing to the coronavirus.
The landlord, which owns 92 acres in Marylebone, will move away from quarterly invoicing for its retailers and food and beverage tenants as “an initial measure to lessen the impact of business disruption”.
Chief executive Andrew Hynard said: “We hope this will assist with the cashflow challenges that many businesses are facing.
“We will endeavour to help our occupiers to remain open during this difficult period, but only when doing so is in line with ongoing government and Public Health England guidelines.”
See also: Argent to grant rent freeze to King’s Cross tenants
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