£1 rent for retailers to stay in High Street

Damian Wilson
Boarded up shops
Boarded up shops

Though I fear they're fighting a losing battle, some commercial landlords are doing their best to stave off the inevitable by charging their retail tenants just £1 rent a year so that shops stay open in the High Street.

According the Financial Times, some retailers are charged peppercorn or no rents and pay just the business rates on the property, though these can still be quite high at around 40% of the rent's value.