Guernsey landlords offering more-flexible shop leases

LANDLORDS of retail premises in Town are starting to follow UK trends and offer more-flexible leases.

Retailers and landlords in the UK are now negotiating shorter leases, break clauses, easier sub-letting and monthly rather than quarterly rent payments.

Commercial property agent Tony Rowbotham, chairman of the Chamber of Commerce retail sub-group, said that in the last five years there had been signs in Guernsey that the traditional leasing structure was starting to change, reflecting UK market trends.

'In the UK we see a lot of different trends now – Guernsey can still be quite old-fashioned and the lease terms quite traditional,' he said at a retail property seminar organised by Collas Crill advocates.