Westfield hits tenants with ‘unexpected’ costs

Tenants at Westfield London are reported to be angry about unexpectedly high costs of opening at the new centre.

Both Estates Gazette and the Financial Times report service charges at £14/sq ft, as opposed to the expected £8, and fit-out costs around 25% higher than other shopping centres.

Central London service charges are £11-12/sq ft, so while £14 isn't excessively high, it's higher than tenants say they were led to believe, which will cause them a budgeting problem at a time in the economic cycle when they could do without it.

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