Westfield has backed down in a row with tenants over service charges.
Twenty-three retailers had made a fuss over the charges at the Shepherd’s, Bush West London, shopping centre. The company had charged £14 a sq ft there, about 50% more than most other centres.
Westfield said no decision had been made on the size of the reduction
The Times says that one of the burning questions of the recession has been what to do with vacant shops or offices with the downturn leading to increasingly tense relationships between landlords and retailer and putting a strain on councils’ strategic plans in the face of downmarket tenants.
01/05/09 Times 52, 55
