Westfield will on Tuesday attempt to end its long-running dispute with retailers over service charges at its new London shopping centre with news that it will cut fees by seven per cent.

The developer will tell retailers that it has decided to cut service charges from £13.94 a sq ft to £12.98, after falling out with tenants over its decision last year to increase fees sharply days after the £1.6bn centre opened. Some tenants were so incensed that they refused to pay part of the annual service charge.