Shoplifting has become a significant concern for the retail sector, with incidents on the rise in recent years. According to the British Retail Consortium, shop thefts have more than doubled over the past three years, costing retailers around £953 million annually…
With surging inflation and the energy crisis, we have been working on and re-assessing our client’s forecast property spend for 2023. There has been a great deal of economic turbulence that has had an impact on inflation across all service cost categories.
The findings were disturbing, with uncertified service charge expenditure going back as far as 2013 and amounting to an aggregate sum in excess of £1 billion, with £583million relating to 2020 and 2021 when actual expenditure was well below budget levels due to the impact of Covid.
According to our research, Tenants are begining to protect their position to a far greater extent, with many more service charge caps and all-inclusive rents. If this trend continues, it is Landlords that will suffer the fluctuations. In turn, this directly impacts the net rent (after deducting service charge shortfalls) that they are able to secure across the let parts of their scheme…
