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Avis Europe cuts improve revenue

first_img Avis Europe cuts improve revenue Car rental firm Avis Europe posted a higher full-year profit, boosted by an improvement in volumes and as the company continued to cut costs. The company, which serves customers under the Avis and the Budget brands, expect overall volumes to further improve in 2011. Underlying pretax profit was €51m ($69.7 million) for the year ended 31 December, compared with €35.2m last year. KCS-content Show Comments ▼ Monday 28 February 2011 7:28 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.com whatsapp Share whatsapp Tags: NULLlast_img read more

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Lakers vs Rockets Semi-Final Game 1 Live: NBA LIVE stream, watch…

first_img Previous articleIPL 2020: Delhi Capitals unveil new jersey for upcoming season – see picsNext articleCricket: Sachin’s bat-maker ‘Ashraf Chacha’ tests positive for COVID-19 Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Euro 2020- Spain vs Poland Highlights: Spain held to 1-1 draw as Lewandowski’s Poland keep Euro hopes alive Football Football RELATED ARTICLESMORE FROM AUTHOR Football Football by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likecio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlineCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One ShoppingFollow NBA LIVE between Lakers vs Rockets  Game 1 LIVE on Sep 5. Here some details related to Lakers vs Rockets Game 1 teams news, broadcast details and Timing in India, Result UpdatesLakers vs Rockets Conference Semi-Final Result-Game 1: Lakers vs Rockets @6:30 AMNBA Conference Semi-Final Game 1 LIVE Match DetailMatch – Lakers vs Rockets Date – Sep 5 2020Time – 6:30 AM (IST)NBA Playoffs LIVE : When do the NBA playoffs start ?NBA playoffs: Aug. 17NBA conference finals: Sept. 15NBA Finals: Sept. 30Where the matches will be Streamed & Broadcasted in India ?All NBA Playoffs and NBA Play-in games will be broadcasted on Sony Sports & Live Streamed on Sony LIV and FanCode in India.Where the matches will be Streamed & Broadcasted in India ?All NBA Playoffs and NBA Play-in games will be broadcasted on Sony Sports & Live Streamed on Sony LIV and FanCode in India. Football F1 French GP 2021 Live: Max Verstappen to take pole position, Lewis Hamilton second Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates, Follow Live update Football Euro 2020 Top Scorers: Ronaldo joins Patrik Schick at top, Lukaku remains second; Check who is leading the Euro 2020 Golden Boot race Facebook Twitter Share on Facebook Tweet on Twitter Formula 1 Brake For ItThis NASCAR Wife Turns Heads Everywhere She GoesBrake For It|SponsoredSponsoredLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestly|SponsoredSponsoredbonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.com|SponsoredSponsoredMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinition|SponsoredSponsoredYourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsored EURO 2020 Groups: All you need to know about EURO 2020 Groups By Kunal Dhyani – September 4, 2020 Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country Euro 2020 Points table: Germany secure first win, Poland keep Euro hopes alive; Check Euro 2020 latest group standings Football Euro 2020, Italy vs Wales: 3 key battles to watch out for in ITA vs WAL Football TAGSConference Semi-Final Game 1 LiveDateIndia TimeLakers vs RocketsLive LinkNBA LIVE streamResult Updatesscheduleswatch online SHARE SportSport News Euro 2020, Italy vs Wales LIVE: Gareth Bale and Co face do-or-die clash; Italy eye third consecutive win; Follow Live Updates, Euro 2020, Switzerland vs Turkey: Top 5 players to watch out for in SUI vs TUR Football Lakers vs Rockets Semi-Final Game 1 Live: NBA LIVE stream, watch online, Schedules, Date, India time, Live Link, Result Updates NBA Conference Semi-Final Game 1 between Lakers vs Rockets starting @ 6:30 AM IST.The Lakers vs Rockets will face off in Conference Semi-Final Game 1 on Sep 5 tip-off 6:30 AM IST.last_img read more

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Centum Investment Company Limited (CENT.ug) HY2021 Presentation

first_imgCentum Investment Company Limited (CENT.ug) listed on the Uganda Securities Exchange under the Investment sector has released it’s 2021 presentation results for the half year.For more information about Centum Investment Company Limited (CENT.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Centum Investment Company Limited (CENT.ug) company page on AfricanFinancials.Document: Centum Investment Company Limited (CENT.ug)  2021 presentation results for the half year.Company ProfileCentum Investment Company Limited is a Kenyan-based private equity firm specialising in providing investment opportunities for public and private companies in Uganda. This includes managing investment growth, development capital and buyouts. The private equity firm invests in companies which serve the needs of the domestic markets in sub-Saharan Africa and invests in both listed and non-listed companies in various sectors, including; banking, insurance, education, healthcare, energy, agriculture, industrial production, telecommunications, real estate, beverage manufacturing, automotive assembly, in-flight catering and dry-cell manufacturing. Investments in commercial services include Mumias Sugar Company Limited, Kenya Airways and Carbacid Investment Company. Centum Investment Company was founded in 1967 and is based in Nairobi, Kenya. Centum Investment Company Limited is listed on the Uganda Securities Exchangelast_img read more

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Lloyds Scholars Programme expands to two more universities

first_img Howard Lake | 3 June 2013 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. António Horta-Osório, Group Chief Executive of Lloyds Banking Group said: “By providing the broadest range of internship and mentoring opportunities to our Scholars, and insisting that they each volunteer 100 hours per year, we have a platform to showcase the pivotal role banks, like Lloyds, are playing within their communities. This is critical and will ensure that the brightest and most able students continue to join our industry.”The Group invested £1.6 million in the Lloyds Scholars Programme during 2012 and announced its commitment to further expand the programme. Bath and Birmingham Universities join the universities of Bristol, Edinburgh, UCL, Oxford, Sheffield and Warwick on the programme.   9 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Lloyds Banking Group is extending its Lloyds Scholars Programme to two more universities, Bath and Brimingham.The programme offers students from lower income backgrounds a combination of financial support and, through mentoring and internships, the opportunity to develop their employability skills. Each student is required to volunteer 100 hours per year to help develop their skills and serve the local community.Applications open today at 9am and there are 120 places available. Advertisement Lloyds Scholars Programme expands to two more universitieslast_img read more

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Leading sports journalist attacked, left unconscious

first_img RSF_en March 22, 2006 – Updated on January 20, 2016 Leading sports journalist attacked, left unconscious July 23, 2020 Find out more Receive email alerts MoldovaEurope – Central Asia June 14, 2019 Find out more Journalists must be respected during Moldova’s political crisis Help by sharing this information to go further MoldovaEurope – Central Asia Transnistrian journalist gets presidential pardon in return for televised confessioncenter_img News May 6, 2011 Find out more News News Moldovan reporters harassed by Russian soldiers on border with Transnistria Organisation News Follow the news on Moldova Reporters Without Borders voiced deep concern today about a physical attack on sports journalist Ion Robu of the independent news agency BASA, who was waylaid as he was going to a gym in the Moldovan capital of Chisinau on the evening of 16 March. His assailants used a blunt object to hit him hard on the head, causing him to immediately lose consciousness. He was rushed to a hospital where doctors diagnosed concussion. He is no longer in danger.“The violence of the attack could have cost Robu his life,” Reporters Without Borders said. “The investigators should therefore not rule out the possibility that it was linked to his work and they must do everything possible to identify his assailants. The senior positions held by Robu and his criticism of the Moldovan sports lobby may have made him a target.” Robu said he believed he was attacked because of his work as a journalist. He told reporters he had two suspects but did not want to name them while the investigation was still under way. His assailants took nothing from him. Foreign ministry spokesman Andrei Slutu told the state news agency Moldpress that the central Chisinau police were handling the investigation.Robu is a member of the Moldovan Press Sports Association and is one of the leaders of the Sports Union of Moldovan Journalists. In his book “Athens Marathon,” published in 2004, he was moderately critical of the Moldovan sports lobby and the performance of Moldova’s athletes in the last Olympic Games.last_img read more

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Los Angeles County Adopts First of its Kind Cultural Policy

first_img Name (required)  Mail (required) (not be published)  Website  Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Los Angeles County Department of Arts and Culture announced today the adoption of the Countywide Cultural Policy by the Los Angeles County Board of Supervisors, a county cultural policy that is the first of its kind in the nation. Los Angeles County Supervisor Hilda L. Solis introduced a motion, co-authored by Supervisor Sheila Kuehl, to adopt the policy at the June 23, 2020 Los Angeles County Board of Supervisors meeting.The Cultural Policy provides direction and guidelines for how Los Angeles County and its departments will ensure that every resident of LA County has meaningful access to arts and culture. The intent of the policy is to foster an organizational culture that values and celebrates arts, culture, and creativity; strengthens cultural equity and inclusion; and integrates arts and culture in LA County strategies to achieve the highest potential of communities and constituents across all aspects of civic life.The Cultural Policy calls for not only the Department of Arts and Culture but all LA County departments to strive to operate in a manner that supports cultural equity and ensures that all individuals and communities can participate fully and equitably in cultural life through the arts. County commissions, agencies and authorities, municipalities, and private sector partners are also encouraged to incorporate the principles of this policy.“In good times and in bad, the arts provide us the clearest window into the human experience. Equity is at the heart of Los Angeles County’s efforts to embrace and empower the voices of our local artists. Only they can unify and heal us at this critical moment through their artistic storytelling. Arts and culture play a critical role in the economic and social resiliency of LA County, not just in our recovery from the COVID-19 pandemic and recent civil unrest, but also in the long-term health and vitality of our community,” said Los Angeles County Supervisor Hilda L. Solis. “By adopting the Countywide Cultural Policy, LA County prioritizes equity in the arts and recognizes that cultural inclusion is vital to the health and well-being of our communities.”“The arts have the power to provide joy, solace, and healing,” said Los Angeles County Supervisor Sheila Kuehl. “This policy provides guidelines to make sure that every resident in this diverse county has meaningful access to that joyous healing power.”“Everyone has the right to participate fully in the cultural life of their community, to enjoy the arts and to benefit from them,” said Los Angeles County Department of Arts and Culture Director Kristin Sakoda. “Arts and culture have a role to play in addressing complex issues and supporting inclusion across sectors of our civic lives, from education, youth development, justice, and workforce to infrastructure, neighborhood revitalization, economy, health, well-being, and more. Investing in the arts is investing in our communities—now is a time to expand the ways we do that with a view to cultural equity.”“In my role leading the County’s Economic Resiliency Task Force Arts and Culture Workgroup, I heard from many of the region’s arts organizations and they are reeling from the impact of this pandemic,” said Los Angeles County Arts Commissioner and Cultural Equity and Inclusion Initiative Advisory Committee co-Chair Tim Dang. “The arts are not a luxury; they are embedded in the very fabric of our lives. Artists and creative workers are uniquely situated to help us imagine our future post-pandemic. I thank my fellow CEII co-chairs, Helen Hernandez and Maria Rosario Jackson; the CEII Advisory Committee; the Economic Resiliency Task Force Arts and Culture Workgroup; my colleagues on the Arts Commission; the Department of Arts and Culture; and the Board of Supervisors for their visionary leadership in championing the arts.”“As a longtime member of the Arts Commission, I am thrilled to see this milestone in the County’s work to advance arts, culture, and creativity for all,” said Arts Commission President Eric Hanks.In June 2017, after an 18-month public process, the Board of Supervisors approved a motion by Supervisors Hilda L. Solis and Sheila Kuehl to fund five of the thirteen recommendations included in the LA County Cultural Equity and Inclusion Initiative (CEII) report. One of those recommendations was to establish a Countywide Cultural Policy rooted in equity, diversity, inclusion, and access that would advance the gains made through the CEII process and would serve as a road map for how all LA County departments can contribute to cultural life for the residents of the region.To ensure that the Cultural Policy represents the needs and opportunities inherent to LA County, the Department of Arts and Culture sought input from hundreds of community stakeholders and partners, as well as national policy experts. Arts and Culture staff documented and integrated stakeholder feedback, leveraged concurrent stakeholder engagement activities, and worked closely with the Board and County Departments to draft the Cultural Policy.In this inaugural year of the newly established Department of Arts and Culture, the adoption of the Cultural Policy is another milestone in the County’s support of the arts. Arts and Culture will provide leadership, accountability, and coordination to support implementation and ensure arts and culture are utilized in the pursuit of the policy’s goals.The mission of the Los Angeles County Department of Arts and Culture is to advance arts, culture, and creativity throughout Los Angeles County. It provides leadership, services, and support in areas including grants and technical assistance for nonprofit organizations, countywide arts education initiatives, commissioning and care for civic art collections, research and evaluation, access to creative pathways, professional development, free community programs, and cross-sector creative strategies that address civic issues. For more information, visit LACountyArts.org faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Subscribe Make a comment More Cool Stuff Top of the News 22 recommended0 commentsShareShareTweetSharePin it Community News Community Newscenter_img Community News Los Angeles County Adopts First of its Kind Cultural Policy A Cultural Equity and Inclusion Initiative Recommendation, the Policy is a Road Map to Provide Meaningful Access to Arts and Culture for Every Resident Published on Tuesday, June 23, 2020 | 1:41 pm Herbeauty10 Sea Salt Scrubs You Can Make YourselfHerbeautyHerbeautyHerbeauty10 Special Beauty Tips That Make Indian Women So BeautifulHerbeautyHerbeautyHerbeauty10 Questions To Start Conversation Way Better Than ‘How U Doing?’HerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeauty10 Brutally Honest Reasons Why You’re Still SingleHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeauty Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. First Heatwave Expected Next Week Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Your email address will not be published. Required fields are marked * Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Business Newslast_img read more

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Concern over Donegal’s small schools as review process nears conclusion

first_img WhatsApp Concern over Donegal’s small schools as review process nears conclusion By News Highland – March 18, 2011 Newsx Adverts Twitter Pinterest Pinterest Facebook Gardai continue to investigate Kilmacrennan fire Twitter WhatsApp Google+center_img Man arrested on suspicion of drugs and criminal property offences in Derry 75 positive cases of Covid confirmed in North Previous articleBrothers amongst four stabbed in StrabaneNext articleKillybegs Fishermen’s Organisation displeased with new fish discard rules News Highland Google+ Main Evening News, Sport and Obituaries Tuesday May 25th The Department of Education will receive final representations today from interest groups concerned about the future of small primary schools.It has begun a review of all schools with fewer than 50 pupils to examine whether they represent value for money.Today is the deadline for submissions.The McCarthy report recommended amalgamating all of these schools with others to save an estimated €18m however the Irish National Teachers Organisations disputes this.INTO Vice-president Jim Higgins says the move would hit rural areas hardist:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/03/jimrschoolspm1.mp3[/podcast] 365 additional cases of Covid-19 in Republic RELATED ARTICLESMORE FROM AUTHOR Facebook Further drop in people receiving PUP in Donegal last_img read more

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Pearse Doherty TD loses High Court challenge

first_imgNewsx Adverts Gardai continue to investigate Kilmacrennan fire Pinterest Facebook Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Twitter 365 additional cases of Covid-19 in Republic By News Highland – May 30, 2012 WhatsApp 75 positive cases of Covid confirmed in North Google+center_img Pearse Doherty TD loses High Court challenge RELATED ARTICLESMORE FROM AUTHOR Previous articleDonegal group PARC call for crack down on L plate driversNext articleWest Tyrone MLA says quarry owner had taken measures to secure site in the past News Highland Pinterest Further drop in people receiving PUP in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry WhatsApp Pearse Doherty has lost a High Court challenge against the Referendum Commission ahead of tomorrow’s vote.The court has rejected claims that the Commission made conflicting or erroneous statements about the government’s ability to veto the ESM.More to follow…. Google+ Twitterlast_img read more

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Gender reveal photo shoot pyrotechnics caused one of this weekend’s California wildfires: Firefighters

first_imgABC NewsBY: IVAN PEREIRA(OAK GLEN, Calif.) — A gender reveal photo shoot allegedly caused one of this weekend’s destructive wildfires in California, according to firefighters.Representatives from the California Department of Forestry and Fire Protection, aka Cal Fire, said a smoke-generating pyrotechnic device that was used during the photo op on Sept. 5 allegedly sparked the El Dorado fire, which is burning near Oak Glen in San Bernardino County.The couple, their younger children and an adult with a cellphone, allegedly used colored smoke devices that are typically long cylinders with a fuse and burn, according to Cal Fire.The fire began around 10:30 a.m. in the El Dorado Ranch Park in Yucaipa and spread north, according to Cal Fire.As of Monday afternoon, the El Dorado fire has spread over 7,386 acres, damaged some structures in Oak Glen and forced evacuations of several residences, Cal Fire said. The blaze was 7% contained as of Monday afternoon, firefighters said.Cal Fire said the family has been cooperative with law enforcement and firefighters. The county district attorney’s office will determine if they will face charges, according to Cal Fire.The El Dorado fire was one of several wildfires ravaging the state, which has been experiencing record heat over the weekend.The Creek fire has forced Fresno and Madera County mountain communities to evacuate as the blaze has encompassed 78,790 acres so far according to Cal Fire. The Valley fire has damaged 11 structures near San Diego and has encompassed 10,258 acres so far, Cal Fire said.The Bobcat fire near Los Angeles has encompassed 4,871 acres so far. Smoke conditions from the fires were visible as far east as Utah, according to maps from the National Oceanic and Atmospheric Administration.The U.S. Forest Service closed down several forests in Southern California Monday and prohibited the use of ignition devices in all forests throughout the state to prevent more fires from erupting.California has been seeing a surge in wildfires since Aug. 15 due to excessive heat and thunderstorms, according to officials. Since that date, the fires have burned over 1.7 million acres, forced over 22,000 people to evacuate and destroyed over 3,300 structures, Cal Fire said.In 2020 alone, 7,563 fires have affected over 2.1 million acres in the state, a new record, according to Cal Fire.ABC News’ Jenna Harrison contributed to this report.Copyright © 2020, ABC Audio. All rights reserved.last_img read more

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Rent review

first_imgLandlords are a much-maligned breed, exemplified by Alexei Sayle’s Harry the Bastard in The Young Ones, who would regularly pop up to put his jackboot through his tenants’ TV, proclaiming, “That’s £700 you owe me!” But the tables are being turned on the Harrys of commercial property, who have grown accustomed to dictating terms and demanding rent increases.The commercial retail rental property market is in freefall. It is forecast to decline by 15.7% in 2009 and a further 13.4% in 2010 (source: DTZ Research). The vacancy rate for retail premises is mixed across the country, but Experian published a report in February estimating the UK shop vacancy rate at the end of February 2009 to be 10%. This was predicted to grow to 15% by the end of 2009.While some retailers will be hit by declining footfall, does the predicted one-in-six vacancy rate present an opportunity for expanding or renegotiating existing leases? High rents were third on the list of coffee shop executives’ top 10 challenges facing the market, following the economic downturn and consumer spending (Allegra Strategies’ survey, May 2009). Still, big chains like Starbucks are beginning to see some slack from landlords. “There’s a lag effect [in recession] and property is typically the last one to catch up,” says Starbucks UK and Ireland MD Darcy Willson-Rymer. “I think the property market is responding and we are seeing a lot more flexibility. What the landlord wants is security of tenure, a long lease and a good covenant.”Paul May, MD of Druckers/Patisserie Valerie agrees that a strong brand will attract better rates. “Most people like our brand and that helps with negotiations,” he says. “Our personal rent levels – what we’re prepared to pay – have fallen by about 30%.”Meanwhile, 14-shop Wenzel’s the Bakers is being attracted into premium London high street and train station locations by six- to nine-month rent-free periods and crashing rates – in one instance, dropping from £80,000 to £49,000. “Before, you were having to pay premiums for good locations,” says Sarah Wenzel, whose business owns the freehold on many of its sites, making it cash-rich to expand. “Having rent-free periods helps us with the cost of shop-fitting.”There are also opportunities off the beaten track, says Igor Bekaert of eight-shop Belgique, which plans to grow to 25 outlets around Essex and London in three years, usually at the end of high streets. Landlords now offer Bekaert nine-month rent-free periods, especially as he’s willing to sign 15-year leases. “We now ask for 20-25% below asking price – we wouldn’t have done that in the beginning,” he says. “They see that we improve the building and their investment, and the value goes up, not only on the shop but on their whole parade. I have a principle whereby I won’t pay more than £25 per sq ft and the agents know that where the landlord is asking maybe £27, they can convince them to lower it once they’ve seen one of our shops.”While strong covenants may suit the bigger chains, there are ways for smaller operators to negotiate. Tom Herbert, director of Bristol-based Hobbs House Bakery, negotiated a two-month rent-free period on his new shop. He also got a stepped agreement, whereby they pay a little more each year. “I did push for more and wonder whether I could have got it, but I so wanted the location that I didn’t push it any further!” he says. “I’ve heard of businesses in Bath being offered rent-free for a year – for the right brand.”But there is a mixed picture across the UK. Druckers’ Paul May says rent drops have yet to emerge in premium areas. “I was rubbing my hands 12 months ago,” he says. “I’d hoped we’d see a lot of properties coming on the marketplace, but in the good areas where we want to be, we haven’t seen the rent drops – especially in London. However, we have found some really good results in Bristol, Oxford and Kingston upon Thames. In shopping centres there are huge incentives, particularly new shopping centres, though we’re not looking to go there.”Even with high vacancy rates in towns, local rents have not always dropped. Dawn Van Rensburg of Gerrards in Wrexham, says that, despite big gaps on the high street, “there’s not much being done by the landlords to recompense that; we’re not seeing any give or take.”Widespread rent problemSo how widespread is the problem of landlords refusing to drop rents? “Unfortunately too widespread,” comments Barry Lewis, senior partner at accountant Harris Lipman. “There is a huge reluctance by landlords to reduce rents, because what they don’t want to do is create a precedent in a row of shops. Once one tenant is heard to say they have had their rent reduced by 20%, it travels like wildfire.But while landlords are taking this hard line, they could actually be worse off if businesses shut down. To find another tenant is not so easy, especially in small operator shops.”How, then, can retailers best convince landlords to rethink? “If you’re renegotiating an existing lease and your business is viable, you’re stuffed,” says Henry Ejdelbaum, MD of accountant AIMS Partnership. “If your business struggles, you have a better chance, because the landlord does not want an empty shop.” This is because landlords now have to pay full rates for empty properties; previously they paid 50%.”There is no rule of thumb as far as incentives go and it is down to individual negotiations depending on location and length of lease – the longer the term, the better incentives the landlord is likely to offer, though this is of course a double-edged sword for the tenant,” adds Nick Walton of property services provider DTZ, which advises the British Shops and Stores Association.So while the day has not yet arrived where you can, metaphorically speaking, put your boot through Harry’s TV, there are deals to be had, and they are only going to get better as the recession bites.—-=== The art of negotiation ===Existing rentsl Be transparent and don’t bluff with your landlord. Have a clear, realistic strategy of what you want to achieve before making contact.l Always go armed with numbers: if turnover is down, compare takings from a year or two ago with the last six months.l The landlord would be worse off with an empty unit than with a tenant, as new tenants are harder to come by; they would have rent arrears, no rent coming in, would have to pay 100% rates, insurance, security and maintenance.l Offer a win-win: negotiate a deferment of rent on your existing property rather than a rent reduction. If you have a five-year lease, ask to defer for 18 months, by which time an economic recovery should be under way. For example, if you are paying £50,000 and you offer to pay £30,000, you would begin repaying the outstanding £20,000 in 18 months’ time over the remainder of the lease.New leasesl Do your homework. The demand of an area and footfall defines rental value, so don’t expect massive freebies on Oxford Street in London!l If there is high demand in an area, your negotiating powers are less. According to Experian, Holyhead and Milford Haven in Wales have the highest number of empty shops at 39%, followed by Beckton (Greater London) at 37% and Chelmsley Wood (West Midlands) at 36%.l Agents may, pro rata, get you a better deal. Hypothetically, if you have a local agent who is prepared to work for £1,500 and gets the rent down £1,250, you have a big saving over five years.l Alternatively, going solo can pay off. Wenzel’s the Bakers checks local areas once a month for new vacancies and does its own negotiating, saving agency fees.last_img read more

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