Land Securities plan for retail startups shows imaginative thinking

There’s always plenty of talk about the fact that landlords and retailers should do work together more constructively, but few good examples of people putting their money where their mouth is.

So Land Securities should be applauded for its plan to back start-up and expanding retailers for at least demonstrating it is willing to deliver real results.

With so little being done by Government to help retailers out with their property costs, its vital that the initiative comes from the private sector. Land Securities’ plan shows that with a little imaginative thinking, things can be done which will bring real benefits to all involved.

The venture capital plan is laudable, not only because it is an innovative way to attract new entrants to the market and fill voids, but because it is based around the idea that a landlords’ and retailers’ interests are tied together.

Retailers are right to fight for concessions from their landlords on concerns such as service charges and monthly rents, but while all these arguments are going on there is still going to be tension between the two parties.

If more can be done to emulate Land Securities’ move to back retailers, such as more turnover-based rents and sharing the load of occupational costs, a genuine sense of mutual interest could be the result of the tough climate that we face today.