The Secret Retailer: Landlords are living in cloud cuckoo land

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The relationship between retailers and landlords is at a critical point.

Historically, landlords have always held the upper hand, growing their businesses on the back of long leases and upward-only rent reviews. Scarcity of supply in the major locations meant they held most of the cards.

In recent years, the growth of online has shaken them out of this comfortable stupor, and then the arrival of Covid-19 gave them a very loud alarm call.

The changes that were likely to have happened over the next three to five years will be accelerated over the next few months. Landlords will really need to respond to the new environment and a new way of working, and react quickly.

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