The UK’s largest landlords have hit back at demands from retail tenants to change to monthly rental payments, saying they would consider the change 'where tenants are in genuine financial difficulty'.

Property owners, led by the British Property Federation, said they would always consider a change from quarterly to monthly rental payments but warned it would have to take into account the financial situation of both parties.

BPF chief executive Liz Peace said: 'Landlords are always willing to discuss flexible terms with their customers – but any changes would be negotiated into the contract and would take account of the financial position of both sides.'

The statement, which was backed up by comments from three of the UK’s largest commercial property landlords — Land Securities, British Land and PruPIM — comes after reports last weekend that retailers were to demand a change in lease structures. The report follows a campaign by the British Retail Consortium to move to monthly payments

Daily Telegraph