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Are retail rents set to drop?

  • 21-04-2020 8:44am
    #1
    Cianos
    Registered Users, Registered Users 2 Posts: 4,850 ✭✭✭


    I'd imagine a few businesses will unfortunately go under either during this or in the aftermath, which could bring a lot of vacant units to the market.

    Do you think retail rents will drop significantly, and within what timeframe do you reckon?


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Trying to get commercial units to pay rent at all- when they aren't trading, is an exercise in futility. Some landlords are recognising this and openly approaching their tenants and offering a rent break and/or assistance with rates. Others, especially those who gave their tenants welcome breaks at the outset of the tenancies (which is quite common)- are less inclined to do so.

    It really depends on a number of factors and is likely to differ on a case by case basis- e.g. some classes of retail tenants are flying it at the moment (think pharmacies for example) while others (anyone who can't open) have cash crunches. When businesses reopen there may be a better feeling for how things recover- and some areas might recover a lot more quickly than others..........

    Its a bit of a wait and see- some businesses will never reopen- others, might have minimal longterm damage and others still will be shadows of their former selves.


  • #3
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,548 ✭✭✭Claw Hammer


    The_Conductor wrote: »
    Trying to get commercial units to pay rent at all- when they aren't trading, is an exercise in futility. Some landlords are recognising this and openly approaching their tenants and offering a rent break and/or assistance with rates. Others, especially those who gave their tenants welcome breaks at the outset of the tenancies (which is quite common)- are less inclined to do so.

    It really depends on a number of factors and is likely to differ on a case by case basis- e.g. some classes of retail tenants are flying it at the moment (think pharmacies for example) while others (anyone who can't open) have cash crunches. When businesses reopen there may be a better feeling for how things recover- and some areas might recover a lot more quickly than others..........

    Its a bit of a wait and see- some businesses will never reopen- others, might have minimal longterm damage and others still will be shadows of their former selves.
    Quite a number of commercial landlords are telling their tenants to pay up or get lost.


  • #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Claw Hammer wrote: »
    Quite a number of commercial landlords are telling their tenants to pay up or get lost.

    And quite a few are just relieved that their tenants are still trading......... In many developments a lot of the businesses are not going to survive this mess- while there are some hardnosed landlords out there- there are also some who are trying to look beyond the current situation and try to navigate a path to a more sustainable future- preferably with their tenants still trading.

    Its a crap time for both landlords and tenants- the very least that both should be doing is maintaining lines of communication with one another.


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