Yesterday I heard of yet another business closing their doors because of High Town Centre rents. This reminds me of my position mid last year when I was looking to share town centre office space with a couple of other young businesses. We approached a landlord whose premises I had previously enquired after some 6 months prior and were known to still be empty. We were not after having them cheap, but felt that some concession should be given due to the flat marketplace. After much deliberation and time wasting we were finally offered the office at a rate above the market value. Six months down the line the offices are still empty.
Why do landlords not share the burden of the reccession and reduce town centre rents? The town centres would look better, businesses could have more of a chance and most importantly for the landlord, the property would be looked after and generate some income, albeit not as much as wanted, but better than none.
Is there a catch I am missing, or is it beneficial to have your building empty and neglected!