297
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
Published
Jul 1, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

British Land struggles to collect rents, but tenants' comp sales are rebounding

Published
Jul 1, 2020

On the same day as Hammerson told us how much rent it had been able to collect across its retail properties, rival landlord British Land revealed its own struggles on this front.


Meadowhall/British Land



As of June 26, while it had been able to collect 88% of the rent owed for its office properties, in retail, only 36% of the rent due for the June quarter had come in. The company said it continues “to engage with customers on a case by case basis”.  

For smaller, independent operators, it has agreed rental waivers of £3 million in relation to the June quarter in addition to £2 million in relation to the March quarter. 

“We are holding productive discussions with larger retail and leisure operators who have been disproportionately affected by lockdown,” it said. “These include moves to monthly rents, deferrals and partial settlement of March and June rents, typically in return for the removal of lease breaks, lease extensions, reduced incentives or commitments for additional space”.

The Meadowhall and Drake Circus owner has been reopening its properties in recent weeks and said that as of this week, 894 of the stores it owns in England were open, representing 64% of its total. Some 116 stores in Scotland were open (50%) and 43 stores in Wales (64%). 

And it added that footfall is starting to recover. For the week beginning June 14, when restrictions were eased on non-essential retail in England, footfall at its English assets was 64% of the level achieved in the same week last year.  “Encouragingly, like-for-like retail sales for stores that were open were 91% of the same week last year,” it said.

It expects the “best located, open air retail parks to perform an important role in retailers' reopening strategies, and this was reflected in positive like-for-like sales for out-of-town stores open in England versus the same week last year”.

Copyright © 2024 FashionNetwork.com All rights reserved.