Landlords of a popular riding school struggling to pay the rent have agreed to meet with riders hoping for a more lenient lease.

The Queen Elizabeth Riding School in Forest Side, Chingford, felt it had no choice but to accept a steep quarterly rent hike from £2,000 to £4,500 in 2007 after being told by landlord The Orchid Group that there would be no negotiations.

But the 60-year-old riding school is now nine months behind the payments and could be forced to close despite teaching around 50 people a weekend and helping troubled teenagers in the community.

However, The Orchid Group estate manager Nick Bradshaw has now agreed to meet with riding school owner Kevin Raby.

Mr Bradshaw said: “We disagree with the tenant’s statements that the rent was forced upon them but we are of course sympathetic to what they’ve got to say and happy to meet with them.”

The landlord, which also owns the adjacent Queen Elizabeth Pub, added they have “no firm” plans for the land where the school’s stables are situated.

Mr Raby, 59, said he was happy at the news.

He said: “It’s good that they are open to meeting, one of the main problems we’ve had is communicating with them.

“We have to come to some arrangement because we’re in a bad position. I just hope they can be a bit more lenient with me because the place is very popular, it’s just that no-one has any money at the moment.”

The school helps teenagers with behavioural problems by teaching them a sense of responsibility as they look after the 20 horses and ponies at the stables, and riders say it has become a focal point for the community.

Livery Cindy Evans, 53, who has ridden at the school for more than 20 years, added: “We need something more manageable, like £2,500.

“No-one can believe someone can charge the amount they have. Everybody I speak to is absolutely shocked at what we’re paying.

“The rent is damaging something that is of great value to the entire community. The thing we now have to do is arrange a meeting.”

Chingford MP Iain Duncan Smith and local councillor Michael Lewis wrote to the landlords in an effort to keep the riding school open, and to question whether The Orchid Group had any plans for the site.