Big retailers may have to sell land - commercial mortgages

02 November 2007

Firms with commercial mortgages could be set to benefit after the Competition Commission said that retailers may be forced to sell their land.

In a report published this week the commission has said that retailers were not abusing suppliers, but Reuters has reported that experts are now calling for a reform of the planning system.

Some analysts have suggested that major retailers are hoarding land that could otherwise be used by competitors.

"We welcome the Commission''s findings and hopefully this can steer thinking away from a supposed war between ''good'' inner-city retailers and ''bad'' out-of-town developments. What we need is a vibrant mix of both," said the British Property Federation''s director for regeneration and development Michael Chambers, according to Reuters.

The commission''s report also recommended tightening the Supermarket Code of Practice, possibly leading to the creation of a market ombudsman.