Letter: City rental charges should be reduced
Surprisingly though, I couldn’t believe the cost of leases, especially considering most retailers struggle to exist. Small shops seemed to average between £6,000 and £8,000 a year, while larger locals cost over £30,000 a year.
It’s not rocket science to understand that leases are just a fixed cost for a business: there’s heating, lighting, staff salaries, it goes on.
Imagine how many sales a business would have to make just to cover fixed costs, let alone make a profit.
Surely, with a focus on improving the look of downtown and encouraging many more people to come to town, is it time to make commercial leases much more affordable?
It’s time to focus on bringing retail back to our beautiful downtown and making rental costs more realistic and affordable.
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