The Howard de Walden Estate has agreed to switch to monthly rental payments for occupiers “where appropriate”, as retailers suffer a drop-off in demand owing to the coronavirus.
The landlord, which owns 92 acres in Marylebone, will move away from quarterly invoicing for its retailers and food and beverage tenants as “an initial measure to lessen the impact of business disruption”.
Chief executive Andrew Hynard said: “We hope this will assist with the cashflow challenges that many businesses are facing.
