BYLINE: Laura Burgoine
Brixton grocers Nour Cash and Carry will remain open, despite fears it could close as soon as this month.
The market’s management InShops Retail announced a 22 percent rent increase when the discount grocery store’s ten-year lease ended in November 2012.
Owner Salam Shaheen previously said the business could not afford to stay open if rates were not brought down. However, following negotiations with InShops Mr Shaheen has signed a new nine-year lease.
When the family business opened in 2002 rent was £32,000 annually; it was up to £53,000 by 2011 and under the new rates would be £77,000. However, under the newly signed lease Nour Cash and Carry will pay £8000 extra for the next three years with annual rental costs that works out to be “around £70,000 per year,” Mr Shaheen said.
“It’s better than nothing. We’re very grateful for all the community support,” he said acknowledging the local campaign of over 3000 residents who signed a petition to save the Brixton Village shop.