Leasing flexibly: when, why and how?
21st March 2022 Whether it’s big brands marketing a new launch, or new independent retailers branching out into brick and mortar, pop-up shops keep our shopping districts varied and interesting, and increasingly, landlords are seeing the benefits of leasing their units for a short-term period. Traditionally in commercial property, leases between 1 and 3 years are considered short-term. However, interest in pop-up retail has boomed in recent years, highlighting the potential of leases even shorter than ‘short-term’. Pop-ups can be open for a matter of months, weeks or even hours, and this novelty is exciting for customers. When? Drastic fluctuations in the retail industry in recent years, primarily due to the COVID-19 pandemic, mean there has never been a better time to experiment with new ways of leasing. With many stores unfortunately not surviving recurrent lockdowns, the UK’s high streets, shopping centres and retail parks are left with tens of thousands of empty units. In other words, there is little to lose. Likewise, the pandemic has been a major setback for many retailers. If they had been planning to open a store prior to lockdown, they understandably may not feel so secure in that decision now. Opening a pop-up serves as a lower-risk...
