Detaljhandeln befinner sig i ett skede av förändring som en effekt av de stora digitala framstegen som skett de senaste åren. Rapporter från fastighetsvärlden vittnar om mängder av butiker och kedjor som tvingats till nedskärningar och i extrema fall, konkurs. Förändring innebär både möjligheter och risker och den stora frågan är hur en ska agera för att lyckas minimera riskerna och maximera möjligheterna. Ett segment ur detaljhandeln har inte drabbats i samma omfattning, dagligvaruhandeln vilken innefattar livsmedelsbutiker som generellt fortfarande positiva siffror i den fysiska handeln. Det primära syftet med studien är att hitta den mest lämpliga hyresutformningen i butiksfastigheter, givet de mest förekommande hyresformerna utifrån hyresgästens perspektiv. Ett särskilt fokus har lagt på omsättningstillägg och dess lämplighet men indexerad bashyra undersöks också i fallstudien som jämförelseobjekt. Omsättningshyran och omsättningstillägget sägs ha haft sitt genomslag i Sverige under 1990-talets fastighetskris som en räddning av dåtidens höga vakansgrader. Metoden som används har varit av kvalitativ karaktär, där semistrukturerade intervjuer har genomförts med respondenter som representanter hyresgästens perspektiv med undantag för en respondent. Det korta svaret på vad som ingår i det optimala hyresavtalet bland ICA-handlarna är enstämmigt, en låg hyra. Undersöks saken mer ingående finns andra aspekter som är av stort värde så som en god dialog med fastighetsägare, låga vakansnivåer i centrumet och att fastighetsägaren ser långsiktigt på sitt ägande. ICA-handlarna som har en hyra med omsättningstillägg saknar ett tak på omsättningstillägget för att nå ett optimalt hyresavtal. Studien visar också att utformningen på ett optimalt hyresavtal är subjektiv och ser olika ut från fall till fall. Vägledande i valet av hyresform kan vara att omsättningstillägg endast är aktuellt i fall där en hyresgäst kan dra nytta av omkringliggande butikers kundflöden och centrumledning jobbar aktivt med centrumets utveckling. Finns inte detta så bör hyresgästen yrka på en fast hyressättning. Grundläggande för ett fungerade hyresavtal är att föra en dialog regelbundet med fastighetsägaren och ha en omfattande gränsdragningslista. / Retail is in the middle of a structure change as an effect of the major digital development taking place. The real estate industry reporting of numerous retailers that has been forced into cuts and in extreme cases, bankruptcy. Change means both opportunities and risks where the million dollar question is how to succeed in minimizing the risks and maximizing the opportunities. A segment that hasn´t been affected in the same extent is FMCG (=Fast moving consumer goods) that is still presenting positive figures from sales in the physical store. The purpose of this study is to find the most optimal rental arrangement in retail properties according to tenants, given the most prevalent rental forms. A special focus has been allocated to turnover rents and its suitability, indexed base rent is also analyzed for comparison purpose in the case study. The turnover rent is said to have entered the Swedish real estate market during the crisis of the 1990s as a rescue of the high vacancy rates occurring at the time. The method used has been qualitative, in which semi-structured interviews have been conducted with respondents who represent the tenant's perspective, one respondent represented the property owners perspective. The short answer to what is an optimal rental arrangement is among ICA retailers is unanimous, a low rent. If the matter is analyzed further in detail, there are other aspects of great value to the tenants such as a good dialogue with property owners, low vacancy rates and that the property owner are long-term owners. The ICA retailers who have a lease with a turnover rent are lacking a cap on the turnover rent in order to achieve an optimal rental arrangement. The study also shows that the optimal rent structure is subjective and vary from case to case. Guidelines in the rent negotiation may be that turnover rent is are only preferred in malls and cases where a tenant can benefit from the surrounding stores' footfall and also, when the shopping center management works actively with developing the mall. If these prerequisite are not fulfilled, the tenant should demand a fixed rent. Fundamental in all arrangements is to keep a dialogue regularly with the property owner and have an extensive list including delimitation of responsibility in the lease agreement.

Notes: i) the terms "lessee" and "tenant" are used alternatively, the latter only when quoted ii) the terms "lessor" and "landlord" are used alternatively, the latter only when quoted / The research intends to assess the availability of information to determine the contribution of turnover rent to lessor revenue as the publicly available information on building performance, and in specific turnover rent, is not adequate to answer the research problem. Academic, legal and accounting sources are consulted and referenced as background on turnover rent. Limitations applicable to the study is noted. A content analysis of published financial statements analyses the application of the prevailing accounting standards in the real estate sector and assesses to what extent information is available to determine the contribution of turnover rent to lessor revenue. Disclosure was found to be inconsistent and inadequate to calculate the contribution to lessor revenue and to assess individual building performance. With relevant building performance data of a large retail centre sourced from an asset manager, the contribution of turnover rent to lessor revenue was calculated for a period of eight years as part of a retail centre case study. With information available, but not disclosed, it is recommended that the IASB considers additional disclosure for listed real estate entities to enable stakeholders to assess individual building performance. Further recommendations are made in this study. The building performance indicators were further compared to relevant economic indicators. The results of this analysis indicates an indirect correlation between the prime interest rate and three building performance indicators being lessee turnover, total rent collected and centre foot-count. This confirms the strong reliance of the South African retail sector on credit sales. / Financial Accounting / M. Ph. (Accounting Sciences)