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Apple desires its UK shop rents lowered by 50%

Michael Dwyer by Michael Dwyer
15 hours ago
in Business
1 min read
Apple wants its UK store rents reduced by 50%
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A hot potato: Apple has asked the landlords of some UK retailers to reduce rents by 50 % and offer you a “rent-free period” in exchange for extending leases by numerous years. The request comes right after Cupertino’s second-quarter sales place it above Saudi Aramco (Saudi Arabia’s national oil business) as the world’s most lucrative business.

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As reported by The Sunday Times, Apple is only proposing the deal to retailers that nonetheless have a quantity of years left on their lease, permitting landlords lots of time to make a selection. The publication writes that the 38 outlets Apple has in the UK are exceptionally lucrative, so the internet site owners are probably to accept the bargains to preserve a favored tenant.

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