Traders fear they will lose their livelihoods as they are struggling to pay “disgusting” rent increases in their rent.

Shops in Leeming Road and Aycliffe Road, Borehamwood, will see a rise of 400 per cent by the end of the year, which has been brought in by Hertsmere Borough Council.

Business that have been open for years are concerned they will be forced to close their shops or move to another area, despite being open for years.

Jack Spicer has owned two First Choice Carpets and Beds shops, in Leeming Road, for six years but says he will lose one shop as he cannot afford the increase will not be able to continue paying the increasing rent.

He said: “The rent is going up too much and we are going to have to lose one shop.

“It’s not ideal but we cannot afford to keep paying the rent.”

David Burcombe, an independent councillor for the Cowley Hill ward in Borehamwod, said: “I’m absolutely disgusted by the increases. Some traders have been there for many years but could be evicted and lose their livelihood due to the increase.”

Labour councillor Michelle Vince added the rises were “ripping the town apart”.

She said: “This issue is sweeping across our town, as business owners are being told to agree to the rent increases or just leave.

“We are just being ripped apart. Some traders have been there for so many years and bring in so much money for the town.

“Leeming Road is an area of deprivation and if prices go up then the local residents will not be able to afford to buy things from the shops. It is disgusting.”

Hertsmere Borough Council spokesman Cath Shepherd said: “Rents are reviewed individually every five years in line with the rental agreements for the properties. We can’t discuss individual leases but can confirm that rents for some business units have changed recently following rent reviews. Regrettably, in some instances, we’ve had to object to lease renewals on the grounds of poor payment history or non-compliance with terms of the lease.”

“These reviews are carried out in accordance with the Landlord and Tenant Act and the terms of the individual lease. Our standard lease provides for either the landlord or the tenant to apply for the review to be determined by an arbitrator if it has not been agreed six months after the review date. Tenants should always consider seeking independent and timely professional advice during the course of their rent review or lease renewal negotiations in order to protect their interests.”

Ms Shepherd added: “Some of the units that we lease comprise a combination of business and residential use. In general, the residential spaces have seen an accelerated growth in value over the period of the lease compared with the business spaces, which will also influence the overall rent that is payable in these instances.

“We want to ensure a balance between supporting the local business community and achieving best value for council tax payers across the borough. We are under a statutory obligation to achieve ‘best consideration’ for local taxpayers, which is determined by prevailing market conditions. We will only seek to recover premises where all reasonable efforts have been exhausted and agreement can’t be reached. However, we will work with tenants to help them to adjust to the new rents where possible and once terms have been agreed.

“We would further add that tThere is a growing level of interest in our portfolio from existing healthy retail occupiers, whilst also attracting new businesses to vacant units. This is demonstrated by the high occupancy rates in our shops, along with the level of interest expressed when a shop becomes vacant.”