Hopes of filling one of Kidderminster’s largest shop units is being hampered as the leaseholders still have to pay around £300,000 rent every year - despite the store being closed.
The Littlewoods store in Worcester Street, closed its doors in January 2006 and was sold off to high street clothing chain Primark.
But although the store is no longer trading a lease agreement means £302,500 has to paid until 2020 - and no other company is willing to take on the cost of moving into the store.
The situation was today described as “a blow” to town trade - especially as the situation could continue for a number of years.
London-based agents CBRE today said that the responsibility of the lease rested with Primark.
A spokesman said: “The rate is very high for Kidderminster.
“The rent as part of the leasehold is still being paid to the freeholder and we would need to get someone to pay more than that amount.
“The details of the lease are very restrictive which is making it difficult for us to get anyone to take it over.”
Kidderminster Town centre Partnership chairman Peter Picken said today: “The news is a shock especially if the situation could go on until 2020. The site is in a prime location.”
The shop was one of 120 bought by Primark but it decided not to press ahead with the development and bosses today described the site as “troublesome,” confirming no-one is in the frame to take it on.
Geoff Lancaster, head of external affairs at Primark, said today that “no progress” had been made in securing a new owner. He said: “Primark Property did not want to convert the building into separate units and are trying to sell it.”
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