The Times recently highlighted that 'a wave of investment needed to revive Britain’s shops and shopping centres is at risk because of a lack of transparency on retailers’ trading activity and financial strength, landlords have warned.'
'A culture of mistrust between retailers and landlords, as well as increased scrutiny on property valuations and outdated tenant risk ratings, is stoking a “perfect storm” for retail landlords as they face falling footfall and rising store closures at a time when they need to invest more in shopping destinations to compete with online retailers.'
'Vicar Lane centre in Chesterfield has become an example of the challenges facing the high street, having seen closures from BHS, Poundworld, Carphone Warehouse, Co-operative Travel and Burger King.'
'It was bought out of receivership in December for £21.2 million by Alteris Capital Partners, a European property investment firm, having been sold for £60.1 million a decade earlier. Alteris is planning to reinvigorate the centre, which has 40 units, of which seven were vacant when it took control.'
'The investor is working with Maybe, a platform that will enable retailers to market their offers and content directly to the local catchment area.'
Read the full article at The Times.