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SA’s biggest clothing retailers and landlords don't see eye to eye on paying rent under lockdown

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SA’s biggest clothing retailers and landlords are no nearer to reaching an agreement on the amount of rent that should be paid during lockdown, with shopping centre owners on Friday rejecting a counter proposal that had been put on the table.

“The big issue for us is that the clothing retailers do not want to pay 100% of their portion of the assessment rates, only 20%. We collect all the rates on behalf of municipalities. We are also apart on the discount. They want 80% discount and we can’t afford this as an industry.”

“Rentals have not gone up significantly, but in fact it’s really rates, and electricity and water that have gone up and in fact, in real terms, rentals haven’t gone up at all. Rates have escalated by 559% over the past 10 years as per MSCI , more than double inflation over the same 10-year period”. De Klerk said retailers and landlords were concerned about the way the relaxation of lockdown was proceeding.

 

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