Commercial landlords need a “sever reality check” if they expect retailers to start paying full rent after the government’s three-month moratorium comes to an end.
Knight Frank noted that only a third of all retailers paid their quarterly rent bills last week in full and on time. It added that any landlord thinking that situation would change by the next quarter was “naïve in the extreme”.
“We would venture that some are in denial as to the depth of the issue,” Knight Frank said.
“If many retailers are struggling to meet their first-quarter rent obligations, cashflow pressures will be even more acute come the second quarter.”
