That Retail Property Guy
Welcome to That Retail Property Guy, the podcast where retail property expert Gary Marshall champions retail tenants and empowers professionals across the industry. With a career spanning decades, a dozen retailers, and millions in recovered losses for leading UK retailers, Gary shares his unparalleled knowledge to help retail tenants protect their rights, navigate leases, and maximise opportunities often overlooked by landlords, estates and accounts teams.
This podcast is your go-to resource for unlocking the mysteries of retail property. Whether you're an experienced professional, a mid-sized chain, or someone just starting in the industry, Gary’s insights will help you build confidence, avoid pitfalls, and thrive in this complex field.
Through practical advice, real-world examples, and interviews with industry leaders, That Retail Property Guy is dedicated to fostering development and knowledge-sharing for the next generation of retail property experts.
Listen weekly and discover how small insights can lead to big wins for retail tenants everywhere. Start your journey to retail property mastery today!
That Retail Property Guy
Property Accounts Payable: The Overlooked Specialists in Retailers' Estates-Accounts Overlap
In this episode of That Retail Property Guy, we shine a light on one of the most overlooked yet essential functions in any retail property operation: Property Accounts Payable.
While estates teams focus on leases and landlord relationships, it’s often Property AP that carries out the financial obligations those leases require. But this isn’t standard Accounts Payable. These are high-value, legally binding payments, often made without formal invoices or purchase orders - and the margin for error is huge.
We explore what happens when landlords or managing agents change mid-lease, when new payment instructions arrive without clarity, or when teams rely on automation without specialist oversight. In those moments, confusion can reign - and unless someone reads the lease, mistakes can quickly become expensive. Here we cover the who, what, when and why to pay, in detail.
The episode delves into the risk of treating Property AP like standard GNFR accounts, the compliance traps hiding in poor handovers, and the dangers of under-resourcing a team responsible for millions in payments. We also consider the importance of strong collaboration between Estates and AP - because when those teams work in silos, money gets lost.
Ultimately, this is a call to recognise Property AP as more than admin. It's a legal, operational, and strategic function. And if your business isn’t reading the lease—or backing the people who do—you’re leaving profit on the table.
00:00 Introduction to Property Accounts Payable
00:26 The Unique Nature of Property AP
01:12 Challenges in Property AP
01:38 Distinctions Between Property AP and Regular AP
02:51 The Importance of Proper Training and Resources
04:32 The 'Who to Pay' Challenge
07:27 Verification and Due Diligence
14:08 Payment Methods and Issues
17:24 Final Thoughts on Property Accounts Payable
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Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.
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