A property owner has hit back at claims from Next that the lease at its Douglas store is too high.

Next announced this week it will close its Douglas store after saying renewing the lease was not ‘commercially acceptable’.

The clothing chain has been on the island for many years, but it now appears likely to leave, with no indication it is considering alternative locations locally.

A spokesperson for Next said: ‘The store’s lease is coming to an end and although Next wanted to renew it and remain trading on the island, as it has for many years, the landlord put forward terms that weren’t commercially acceptable, so sadly the store will have to close in the summer. Terms for a renewal of the lease could not be agreed with the landlord.’

The building is owned by Kelproperties, which says the offer of a new lease is actually ‘considerably less’ than the previous agreement.

A spokesperson said: ‘Kelproperties has been negotiating with Next on the renewal of the lease for many months.

‘Next is intransigent in its offer of renewal, which is considerably less than the previous rental agreement. Kelproperties is not prepared to accept such a reduction.

‘We are, however, negotiating with two large retailers who have expressed an interest in our Strand Street store.’

Next has had a presence on the island for 25 years and the closure would see the loss of more than 20 jobs.

In 2011/12, Next sought to open a second store at the Spring Valley Industrial Estate in Braddan, but the plans were rejected over concerns about the impact on town centres.

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