Railway arches traders complain to TfL after car mechanic slapped with 300 per cent rent increase

A group of traders in railway arches in east London have forced Transport for London to be transparent about future rent rises after a small business was slapped with a 300 per cent increase.

A union of 200 small businesses held talks with TfL after the company, car mechanics JC Motors, was told the rent would increase from £22,000 to between £60,000 and 70,000 a year. 

After discussions between TfL and the East End Trades Guild the owner, Len Maloney, was given a stay on the 2014 bill — and it was agreed that rent increases would be discussed with traders on an ongoing basis.

Mr Maloney won an agreement for rent rises to be more gradual, while allowing him to use unpaid rent towards the higher total.

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TfL said it worked with each tenant individually to agree fair and comparable rent.  

Director of commercial development Graeme Craig said: “Our leases are flexible to reflect our tenants’ business needs.”

Source : https://www.standard.co.uk/news/london/railway-arches-traders-complain-to-tfl-after-car-mechanic-slapped-with-300-per-cent-rent-increase-a3611021.html