Billionaire retailer highlights need for rent changes

Sir Philip Green, owner of the BHS and Arcadia groups, has raised his concerns over rental arrangements for retailers on their commercial properties.

The billionaire has written to Land Securities to request a meeting on the matter between the landlord and a committee of retailers, led by himself and Carpetright founder Lord Harris of Peckham.

He said he would like to discuss rent payments, service charges and insurance.

The letter stated: "You will be aware that this current climate is affecting everyone in different ways... Dealing with this issue now will help everyone in the long term as opposed to trying to deal with this matter as and when a problem arises."

It was signed from Sir Philip on behalf of 35 retailers, including Boots, Carphone Warehouse, B&Q, Comet and Next.

Earlier this week the British Retail Consortium called on chancellor Alistair Darling to reduce price pressures on retailers.

It wants empty property relief to be re-introduced and says it is "vital" the government acts.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.