Property News Retailers prove to be resilient

Resilient Retailers

Thursday saw retailers pay three month’s rent in advance to landlords and despite nervous assumptions about the retail sector not being able to meet ‘quarter day’ payments, Colliers International collected 94% of High Street retail rents on the due date. This compares favourably with 85% 12 months earlier.

Colliers International Head of Investment Property Management Mark Jarrett stated this was an improvement on previous quarters.

“Despite the pressures on the high street, we have found that nearly all rental payments have been processed on or before quarter day and retailers are proving to be surprisingly resilient”, Mr Jarrett added.

Belfast