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Fylde landlords dropping rates
RETAIL landlords on the Fylde are among the best in the North West at dropping rates rather than see spaces unfilled.
A report by property experts Colliers CRE say landlords in St Annes are doing better deals to keep new stores coming into the town during the recession.
John Moxham, chairman of the St Annes Chamber of Trade, said: "This is great news. It is better for landlords to take a dip in rent prices rather than seeing them lie empty. They should be realistic setting their rates, not ripping retailers off.
"We know that sadly there will be some shops that will be empty as a cause of this recession, that is a reality, but if we can have the kind of landlords we have in St Annes in other places then business will get better."
A report, launched on Friday, forecast that North West retail rents would fall by 13.1 per cent this year.
And in Blackpool rent prices for the resort's stores have dropped by around eight per cent.
Standard rates in St Annes start at around 45 per square foot and in Blackpool they are around 115 per square foot.
Nick McAllester, head of retail agency at Colliers CRE, said: "This year the realisation that we are in a full-blown recession has caused many landlords to see the cost of leaving units vacant is more detrimental to their investment values than the negative impact of doing 'below market' deals."
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Weather for Blackpool
Wednesday 30 May 2012
Today
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Temperature: 12 C to 20 C
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