Southwark Council is preparing to approve a definitive policy statement that makes clear it will no longer rent retail premises in its own buildings to bookmakers, payday lenders or amusement arcades.
Details of the proposal are available on the council website:
The council owns a portfolio of approximately 490 retail units, distributed across the borough with particular concentrations in SE16 (Jamaica Road / Albion Street) and SE17 (Walworth Road / East Street). Elsewhere there are a number of smaller local neighbourhood parades, including those with relatively distinct catchments as part of individual housing estates.
Rent from these shops currently generates £5.2 million a year for the council.
There are 18 businesses – mostly bookmakers – which would be affected by the proposed policy change and would not have their leases renewed.
The 18 shops generate £330,000 a year in rent.