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The first half of the year saw the shopping centres landlord Capital & Regional take a number of significant hits, with many important tenants closing or obtaining new lease terms, including Toys R Us, Select Fashion, Poundworld and New Look.
The company has now released figures for its predictions of how much the high street bloodbath is set to cost it by the end of the year – estimates show that full-year rental income will be down £1.2 million and the 2018 dividend is likely to be at the lower end of its 5%-8% target.
However, boss Lawrence Hutchings has stated that the outlook may not be as bleak as the predictions suggest, as total rental income in the first six months of the year rose 4% to £26 million, and with a 1.7% increase in footfall, the firm still performed better than the national average.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.