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But there is a big question. How many of the roughly 50 retailers and food outlets will be the payment of a rent This Week .
He laughs nervously when asked.
"Hopefully, some of the, but we have only collected, 56% in the Last Quarter ," he says.
UK landlords should collect a minimum of £2. 5 billion on Wednesday for the shop rent.
Retail landlord traditionally paid four times a year.
the Majority of high street shops, together with pubs and restaurants, have seen sales evaporate, and were not either able or refuses to rent you can.Bill Hughes says, unless it is to invest a vocation for long-term investors such as pension funds in UK Real Estate , infrastructure does not get funded.
The Grosvenor Shopping Centre , the Art of the everyday mall you would find in many of our cities and town centres.
It is owned by Legal & General, which invests to Fund a property, the thousands of pensions.
"It is not known, or not very transparent for the people, but the majority of the retail properties are effectively in the possession of the ordinary man on The Street in the UK," Said Bill Hughes, Legal and General, head of real assets.income "At Risk "
Current research Estates Gazette, a commercial property weekly, showed that as much as 60% of all UK Retail Space is owned, either directly or indirectly by the General public, including pension Fund, The Public sector and the individual shareholders.
It is a secure form of income-Until Now .
"is The Risk of loss of income is really important. The Pension Fund owners of the built environment and the UK, they rely on the income that is produced, by what has been seen so far, the values are very stable assets. And that is in danger, in a way that had never been there, to the extent before. "Said Mr Hughes.
And the rapid Expansion of the retailers were happy to oblige. But in The Last few years, with sales shifting online, make it a lot harder for the business to make a profit.
The pandemic trend accelerated this. The government extended the prohibition of forced evictions for non-payment of rent until the fall.
occupiers are now desperately trying to secure better deals, or rotate, in order to negotiate a bankruptcy process, your debts, including owed rent.Mark Burlton, The Founder of Cross-Border Retail, Said The Landlords may get used to the fact that their properties are worth less
is The traditional business model, such as the retail property is rented, is now well and truly broken.
"I feel really sorry for you (The Landlord ). Absolutely. You are entitled to receive income, but I don't think you are entitled to receive the same income as you were. I think you have to understand the value of their investments. And the value of your assets is what someone is willing to pay for it. There is not a queue of retailers to come up behind you," He Said .
"It's inflexible. We need something that is much cheaper and to negotiate faster. We should have a system of rents based on sales, so retailers pay a rent that you can afford. But to do this, that the tenants help tenants must do their part. You have to explain what they are, turn around," Said Mr Burlton.
Bill Hughes thinks the government of the new code of practice on tenancy agreements, tensions should ease.
"We are on an active call with the tenants, which you pay for, and if you can't pay, we are working hard to restructure things.
"Because it is in our interest to help to find a way to Cash Flow for companies that would survive this very difficult, unusual crisis, the Covid presented. "Who pays?
Legal & General Bill Hughes says, the government should carefully consider the some financial support to help bridge the likely lack of income otherwise the "dynamics between landlords and tenants is likely to be a challenge and degrade".
The Future prosperity of our shopping streets and town centres, was ultimately on the game, if this crisis doesn't end well.
Regeneration requires investment by the Private Sector , as well as the State support.
Mr Hughes says, unless it is to invest a vocation for long-term investors such as pension funds in UK Real Estate , infrastructure does not get funded.
"you need a reasonable and stable environment, in which you can get to a kind of return," he explains.
Mr Burlton, says he received phone calls from US private-equity and venture-capitalists to sniff, to catch opportunities of some retail assets on the cheap.
"in the end, if landlord and tenant do not agree on what should be the real rent, then A Number of landlords are going to face the very real prospect of going bust. And Then we have to Be Careful of what we wish, because the buyers of these assets, which, in my opinion, is likely to be much shorter goals than The Landlord that you currently have. "
the fate of The highly indebted Shopping Centre owner, Intu, will be decided by Friday. It has some of the country's largest and most popular shopping centres, including the Trafford Centre and the metro centre in Gateshead.
If it is not secure can a last-minute agreement with its lenders, the management, what could mean that the temporary closure of sites.