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Economy

Landlords Offered a Rates Holiday for Local Tenants

A new scheme would cut property charges for owners who let empty units to independent businesses.

An empty shopfront with posters pasted across its windows
Photo: Bruce Williamson / Unsplash. Illustrative image; Columnist demo stories are fictional.

Owners of long-empty high-street units could pay less in property charges if they let them to independent traders, under a scheme announced by the Kestrel Quay development board.

The discount would apply for three years and end if a unit is let to a national chain. The board estimates about 60 units in the town centre have been vacant for more than a year.

Landlord groups welcomed the principle but asked for the discount to apply to short-term pop-up lets as well. Retail campaigners said the rule on chains was the part that would decide whether the scheme changed anything.

About the author

Callum Ferreira

Economy correspondent. Follows household budgets, high streets and the gap between a headline figure and a Tuesday afternoon.

Kestrel Quay

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