Network rail are increasing rents by over 200 percent in the London Fields railway arches in Hackney. This will put most of the businesses out of business or they will have to move out of London. To combat the rent increases, the business have formed the ‘London Fields Arches Trade Group’ to try and combat Network rail together in a union and give them a better chance of negotiating.
Tenants rents usually go up 2 percent per annum, but this year Network Rail sent out warning letters that rents could increase by over 200 perecent. Until now the businesses had been negotiating on their own but now they have come together to try and make as stronger union.
Some of these businesses have been there for 25 years.
It is rumoured Network Rail is increasing the rents to unsustainable levels to purposely push the tenants out, so the arches can be sold.
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Headline200% increase in rents for traders
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Network rail are increasing rents by over 200 percent in the London Fields railway arches in Hackney. This will put most of the businesses out of business or they will have to move out of London. To combat the rent increases, the business have formed the ‘London Fields Arches Trade Group’ to try and combat Network rail together in a union and give them a better chance of negotiating.
Tenants rents usually go up 2 percent per annum, but this year Network Rail sent out warning letters that rents could increase by over 200 perecent. Until now the businesses had been negotiating on their own but now they have come together to try and make as stronger union.
Some of these businesses have been there for 25 years.
It is rumoured Network Rail is increasing the rents to unsustainable levels to purposely push the tenants out, so the arches can be sold.
