BCSC 2012: Major high street retailers outlined fears for the future of turnover rents following the boom in online sales.
Speaking at the BCSC conference in Liverpool, representatives of Debenhams and Next both admitted there were concerns over how online sales were captured in turnover rents.
Debenham’s head of property, Rob Hadfield, said: “The lines are going to get more and more blurred and confused. It may lead to a decline in turnover rents being used because of the uncertainty element.”
Adrian Trotter, regional estates manager at Next, added: “Turnover rents are still in place. They are about a partnership between landlord and tenant. There is still a role for them but there is concern about all the internet money.
“Landlords will get a slice of store spend and will have to be satisfied with that.”
annabel.dixon@estatesgazette.com
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