Retailer Feedback
“When we enter into negotiations with them they listen to both sides of the argument. The most important thing is to get the right balance. As far as negotiations are concerned, I have always found that British Land has the right balance. We have a good relationship with them. They are professional, they try their best to help you, and they are efficient.”
- Owner, Entertainment Retailer, France
Negotiating contracts
- Alfonso Cuesta Castro
- Fund Manager and Head of European Asset Management
In the recent economic climate all costs and contracts are coming under considerable scrutiny.
Many of our retailers are looking for greater lease flexibility, reductions in rental charges and cuts in service charge costs. We have even received requests from retailers who do not currently lease any space with us to cut their costs. We take each request from our occupiers seriously, but as a business we, understandably, are not able to agree to all of the demands we receive. That said, we will work with you, within the context of our own business needs, to help you to overcome challenging conditions where possible.”
- Working with retailers
- Lease
flexibility - Improving trading
You said...
“This is a complex issue. I think we get good value for money, but the current economy has changed since the date the contract was signed.”
- Expansion Manager, Home and Garden Retailer, Spain
So we...
We will work more closely with our retailers, both those who are in particularly challenging circumstances and those who wish to expand. We want you to survive the difficult times, with a business that thrives. We will work with you, within the context of our own business needs, to help you to achieve this where we can.
You said...
“I'm fine with how the lease is now. I would not be prepared to pay more to have more flexibility.”
- Expansion Manager, Retailer, Spain
So we...
We aim to adapt our leases to suit the constantly evolving needs of retailers. We approach lease contract negotiations with an open mindset, attempting to meet retailers’ requirements wherever possible.
You said...
“I think there should be more investment in marketing and promotion, also signage and billboards.”
- Expansion Coordinator, Home and Garden Retailer, Portugal
So we...
We recognise that surviving tough times isn’t all about cutting costs; it’s also about finding ways to increase shopper spend. We are looking at marketing, promotion and signage across our portfolio to see if there are low-cost opportunities to increase footfall.