Oxford retailers forced out by colleges' 40 per cent rent hikes
The owner of Laurie Leigh Antiques on High Street can no longer afford to stay after Queens rent hike
Independent shops across Oxford are in danger of closing as colleges continue to raise property rents at a rate far higher than national inflation. Many shops which operate in only one or two locations are unable to cope with the hikes, which in some cases have been as high as 40 per cent. Laurie Leigh Antiques, which has been in the same location on the High Street for 30 years, was forced to close in June after Queen’s unexpectedly increased rent for the location by 40 per cent.
The move raised the yearly rent from a special concessionary rate of £17,500 to the market rate of over £23,000. 73 year-old shop owner Laurie Leigh called the move disgusting. “There was no negotiation at all. I’ve spoken to other shop owners and the same thing is happening to them. It’s killing people and it’s killing trade.” Leigh attempted to move location twice, but difficulties with solicitors and a lack of tenants for her old shop meant that both deals fell through.
She has been left with a state pension of only £350 per month, and after council tax has only £148 left for living expenses. Professor Peter Robbins of Queen’s said he was disappointed by Leigh’s criticism. “In general, the college is successful in building excellent relationships with its tenants. Rent reviews and lease renewals are handled on behalf of the college by a reputable local agent with many years of experience,” he said.
“We believe that our agent has acted at every stage of these negotiations in a courteous, professional and totally fair manner.” Private landlords are also threatening shops with closure. Several traders on Cowley Road are planning to march to the Town Hall this Saturday. Some landlords have raised rents by as much as 140 per cent, forcing shop owners to establish a group to discuss methods of protest.
The rises come as Oxford has been named as one of a group of urban areas close to becoming a ‘clone town’ after a national survey of local residents conducted by the New Economics Foundation (NEF). According to the NEF survey only 28.9% of shops in Oxford’s town centre • Cornmarket and Queen Street • are owned locally. This makes Oxford one of 13 towns nationwide named as being on the brink of losing their distinctive character.
Although there are large numbers of independent stores in Jericho, Gloucester Green and Cowley, the centre of town is dominated by chains such as Virgin Megastore, TopShop and Gap. A spokeswoman for the NEF lamented the loss of the “tangible social glue” which locallyowned shops provide. “They form the hub of community interest, as well as ensuring the local economy is kept healthy. These retailers tend to source locally, keeping money in circulation.
“The news from Oxford is symptomatic of a wider national issue which needs urgent examination.”
5th Oct 2005