Landlords have not yet seen the worst of what will end up as the sale of the century so far for the nation’s shop leases, says the Financial Times’s property column.
They will be fearful because many retail tenants are expected not to survive far into the New Year, the writer says, using the examples of Woolworths and MFI as the latest casualties.
The writer says many stores will become vacant, and voids and bad debts will mount. This means that those landlords that escaped by not having exposure to Woolworths should not feel too comfortable just yet.
09/12/08 Financial Times 20
