Market Row and Brixton Village, Brixton, London

At our markets in Brixton, South London, we have focused over the last year on improving occupancy and increasing the footfall across both of the markets that we own there. This has been particularly the case with those units in Brixton Village, one of the two markets, that have historically been hard to let away from the main pedestrian flows. We have enjoyed some success through the introduction of flexible leases for an initial 3 month trial period. These have only been available for retailers who we believe will add substantially to the quality of the tenant mix.

The result of this initiative is that Market Row, the more successful of the markets, remains effectively fully let while Brixton Village now has 90% occupancy for the first time. Of the 17 tenants that commenced trading on flexible leases, 10 have now converted to full leases at a market rent. As a result the rental income for these two properties has increased by 9.4% over the last 12 months.