Now, Chinatown is also under threat; rising rents in the West End could lead to the closure of many of the restaurants and shops in the area within the next few years. The Evening Standard reports that the owners of Loon Tan on Gerrard Street have seen their rent rise from £160,000 to £312,000 ($240,000 to $467,000) in the last five years, and that betting shops and fast food restaurants—businesses with high turnovers—are waiting in the wings like greasy-fingered vultures ready to pounce.Meanwhile, according to the same report, landlords Shaftsbury PLC saw profits rise by nearly 50 percent in the six months to the end of March last year. I contacted their PR firm to ask for comment on the issue but had received no reply at the time of this writing.
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