The perceived value of high street retail units has been seriously overplayed for years. Unit rental value should be linked to business performance. Costs for business should be reasonable and predictable and landlords don’t get that.
High rent cripples retailers, but ultimately the retailer has the choice to take the lease or not. Supply and demand makes the world go around. As a retired retailer, what always annoyed me is the fact the landlords have no responsibility for the condition of the building. If the roof falls in it's the responsibility of the tenant to repair it, unlike a private lease or rental. landlords of commercial property get so much tax relief they aren't even bothered to much if the property is left standing. Perhaps if this changed rents may come down.