Our Newsletter 9 June 2025 made the factual observation that the fabric of The Centre is in visible decline and that 40% of the shop units have become vacant since purchase by the developers.
HERSHAM GREEN SHOPPING CENTRE NEWSLETTER
18 JUNE 2025
Our Newsletter 9 June 2025 made the factual observation that the fabric of The Centre is in visible decline and that 40% of the shop units have become vacant since purchase by the developers. Following these observations there are 2 related issues regarding the shop units at The Centre, namely:
- The leases that have now been offered to existing tenants
- The requirement for the shops to comply with modern environmental standards
The Leases
Following the expiry of the existing leases it is correct that new leases have been offered. It is understood these are short term leases with 3 months notice of termination by either party and are outside the protection of the Landlord and Tenant Act 1954.
This offers no security of tenure and the businesses may be evicted in 3 months at any time, providing no future certainty and zero opportunity for business investment. Waitrose and others within the 1954 Act are not included in this statement.
It is therefore no surprise that a number of the retail businesses have declined such terms, especially in view of the failure of the developers to present acceptable proposals during more than 4 years of ownership.
New Environmental Standards
We are all familiar with Energy Performance Certificates (EPC) when selling or letting residential property. Similar legislation has been introduced that requires minimum standards for commercial lettings.
This was introduced in 2018, updated in 2023 and must now be provided for all shop lettings from 2028. This is national policy and every relevant shop unit throughout the country needs to comply.
It is of great concern that the developers infer that they cannot comply with this legislation unless they redevelop the whole site. This is simply incorrect.
The decision to redevelop and the requirements of these environmental standards are independent of each other.
IN THE MEANTIME, AS OF TODAY, THERE HAS STILL BEEN NO DIALOGUE BETWEEN THE DEVELOPERS AND ALL HERSHAM STAKEHOLDERS.
Latest News
There is an obvious decline in what was a viable and valuable asset to the community. This is clearly evidenced by the physical deterioration of the fabric of The Centre and 40% of the shop units are now empty since the purchase of the site in May 2021.
Response and reply email's received on 29th April to the letter sent on 28th April to Quadrant & Lasalle from HRA and HVS