Leadenhall Market tenants offered additional rental support ahead of Christmas
The City of London Corporation is supporting Leadenhall Market tenants through the Covid-19 pandemic by offering them the chance to pay rent on a turnover basis.
The plan will see new leases drawn up for any of the 35 eligible businesses that wish to take up the offer. The option will also be given to businesses signing up for any vacant units.
Catherine McGuinness, policy chair at the City of London Corporation, said: “This has been an exceptionally difficult year for many City businesses. We hope the option of turnover rent for those tenants based in the iconic Leadenhall Market will help to lessen the immediate burden of overhead costs and support a sustainable recovery. We have every faith that the Square Mile has a bright future and we are taking action, where possible, in order to preserve our unique offerings as we emerge from the shadow of the pandemic.”
Retail businesses accepting the offer will be moved to a five-year lease with a break at three years.
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