Honiton: Fourth business vacates Lace Walk
CHALLENGING trading conditions and ever-increasing rent reviews have led to the closure of a fourth retail outlet in Lace Walk, Honiton.
CHALLENGING trading conditions and ever-increasing rent reviews have led to the closure of a fourth retail outlet in Lace Walk, Honiton.
The Age Concern shop closed last week, meaning more than a third of the shopping centre is now standing empty.
Marks and Spencer pulled out of Honiton in March and Lisa Maria relocated.
A further shop unit in Lace Walk has been empty for a long period of time.
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Andrew Harrop, head of policy for Age Concern and Help the Aged, told the Herald: "We've sadly had to close our charity shop in Honiton.
"Challenging market conditions and ever-increasing rent reviews for the shop site made the ability to maintain profit levels increasingly difficult."
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Mr Harrop added: "We would like to thank the local community for supporting us over the years, as the money our shop generated helped to support the work we do for older people.
"However, in recent times, our ability to raise funds has been hit hard and, as a charity, we could no longer afford to absorb such significant costs."
When Marks and Spencer vacated its premises in Lace Walk, the third largest unit in the development, the site was advertised for rent at �95,000 per annum, exclusive of business rates and other costs.
The Herald is now asking: Are landlords charging city rents in a market town? Tell us what you think.
