// Designer outlet group McArthurGlen introduces rent relief package to support its brand partners
// It is waiving all minimum base rent, turnover-based rent and marketing charges for tenants
McArthurGlen has launched a rent relief package to support its brand partners until the end of the year.
The designer outlet group is waiving all minimum base rent, turnover-based rent and marketing charges for tenants in all of its centres closed from April 1 to June 30.
Once a centre reopens, the group will waive all minimum base rent.
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From July 1 to December 31, McArthurGlen will charge turnover rent or a “much-reduced” minimum base rent.
”Society at large and our industry have faced unprecedented challenges due to the Covid-19 pandemic,” chairman JW Kaempfer Jr said.
“Our long-term partnerships with our brands lie at the heart of McArthurGlen’s business so we knew we needed to do something to help them through this crisis.
”This has always been a partnership. We, together with our investor partners, hope that by providing this significant economic support to our brands, we can contribute to a faster recovery of our mutual business.”