Sophie Orme, head of Colliers International's shopping centre management team, said; "The Autumn quarter is always the toughest quarter day
for those landlords collecting rent with high percentage of retail property in their portfolio.
With the passing this week of the latest Rent Quarter Day
, research from R3 has revealed more doom and gloom around the corner on the High Street.
If the notice to appoint ends before the quarter day
, the administrator can be liable for the full quarter's rent, even if not occupying for the full period.
A TOUGH year for retailers will not be made any easier by the approach of the next quarter day
, which will trigger advance payment of three months' rent.
LAP remains focused on cash flow and is pleased to report that approximately 95% of rents due on the September quarter day
were collected within 14 days.
Once we are through Christmas present returns, rent quarter day
and January sales (over in a blink of an eye), the retail sector will have to do everything it can to motivate consumers to open their wallets.
7[degrees], the first Quarter Day
before and after midwinter, at the beginning of November and February respectively, and perhaps equivalent to the Celtic feasts of Samhuinn and Imbolc (MacKie 1997: 358).
Other pre-war honours to fall to Trafalgar Cup winners included the 1937 St Leger to Grosvenor Bob and the 1938 Oaks to Quarter Day
The appeal, by a consortium of landlords including Land Securities, Hammerson and British Land, overturned the controversial Goldacre/ Luminar decisions which decided somewhat arbitrarily that the rent should only be an expense of the administration if the quarter day
fell after the start of the period of administration.
The ruling means that rent will now be charged on a pay-as-you-go basis, putting an end to 'tactical' administrations which enables retailers to operate for free if they file for administration just after quarter day
With the latest Rent Quarter Day
bright in the headlights of the retail sector, new research from insolvency trade body R3 has found that a quarter of retailers in the North East are at a higher than normal risk of insolvency in the next year.
Insolvency body R3 issued an appeal for a rethink following the expiry this week of the latest Quarter Day
commercial property rent deadline on June 24.