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‘Golden days are over’: retailers win battle as rents reset Save Share Retailers are winning the battle for lower rents, securing 5 to 10 per cent reductions for short-term lease renewals and 15 to 20 per cent discounts for new leases as the pandemic forces landlords to the negotiating table. In the Sydney and Melbourne CBDs, where foot traffic and sales at specialty retailers have plummeted because of the absence of office workers and international travellers, some retailers are winning 60 per cent rent cuts from landlords desperate to keep premises occupied. A boarded-up store in Acland Street, Melbourne. Landlords have agreed to cut rents to keep stores occupied.  

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