Dr_Paul
Established Member
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- 3 Sep 2013
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From today's Guardian:
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Thousands of small businesses based in railway arches across the UK are facing “extermination” as Network Rail seeks to push through a billion-pound asset sale.
From bakers to bike shops, mechanics to restaurants, many of the 5,500 arches across the UK’s major cities are home to traders and shop owners.
But since announcing they would be selling their commercial property business, Network Rail has been accused of trying to strong-arm many of them out of their arches with threats of eviction if rent increases of between 300% and 500% are not met.
There are also fears about what will happen to the businesses when the sale goes through, with a number of private equity firms interested in acquiring the vast block of real estate.
From bakers to bike shops, mechanics to restaurants, many of the 5,500 arches across the UK’s major cities are home to traders and shop owners.
But since announcing they would be selling their commercial property business, Network Rail has been accused of trying to strong-arm many of them out of their arches with threats of eviction if rent increases of between 300% and 500% are not met.
There are also fears about what will happen to the businesses when the sale goes through, with a number of private equity firms interested in acquiring the vast block of real estate.
Continued here...