The Independent London Newspaper
Gambling with reputation
Published: 02 March 2012
• NATIONWIDE suggested there was no commercial demand for the premises at 31-33 Junction Road, Archway, but the agents have not responded to our request for comparables to justify the strangely high rental quoted, almost double the asking price last time the property was marketed, despite current economic conditions (‘Yet another betting shop’, February 10).
Nationwide suggests there is nothing it can do as disposal is in the hands of the receiver. It may be pleased to know that advice received is to the contrary.
One ground is where a receiver’s proposed transactions are detrimental to the chargeholder’s reputation.
Nationwide claims that supporting communities is at the centre of its mutuality ethos.
To allow the receiver to favour a gambling arcade that preys on the vulnerable rather than a retail use providing goods and services to the community would indeed be detrimental to Nationwide’s reputation.
Adrian Betham
North Road, N6
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