Apple has apparently asked various landlords in the UK to lower the rent by 50 percent for its multiple retail stores, according to The Sunday Times report. 
In exchange for the rent being lowered or being offered a “rent-free period,” the Cupertino based giant will possibly extend its lease considerably. The period of this rent slash or extension is currently unknown, although, it is understood that several stores in the region still have many years left on their leases. Thus, the landlords do not have to make a prompt decision regarding the matter.
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According to the report, the move has already agitated the numerous property owners in the UK, as despite Apple stores being closed during the initial outbreak of the Coronavirus, the company has still managed a record 59.7 billion US Dollars increase in sales in the second quarter of 2020, since the demand for its products online was relatively high.
This tactic of proposing lowered rent is in line with other businesses that had benefitted from this. Landlords had to lower rent to keep the property in shopping centers occupied. Apple currently runs 38 retail stores in the UK, all of which had to close doors for a few months earlier this year. At the moment, these stores have now reopened and are one of the most profitable outlets in the industry.
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