Property News - Homebase rent slashed

Homebase has bucked the trend of soaring out-of-town rents by negotiating a rent reduction on a building at Newport Road in Cardiff. The former Homebase store has been sublet to CDS, trading as The Range, but a rent review as at September 2001 has just been settled at arbitration for£324,080 a year (£86 per sq m). Colliers CRE advised Homebase.