T5 retailers demand rent reduction |
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| Sunday, 20 April 2008 | |
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Tax free shopping at Heathrow T5 is not 'a temple of retail' as expected. The luxury retailers operating from Heathrow's Terminal 5 are expected to
demand rent reductions from airports operator BAA following "dreadful" sales in the wake of the building's chaotic opening on March 27.
Many retailers are disgruntled as their sales have fallen well below their budget expectations due to disruption caused by cancelled flights and lost baggage. Store bosses fear that recently-announced delays in transferring long-haul flights to T5 from Terminal 4 will further damage their sales. Much of the shopping at T5 has been heralded as a "cathedral to flight", with 23,225 sq metres of retail space, the equivalent of six typical Asda stores and 142 stores including Chanel and Gucci. |
