timebandit Posted September 19, 2010 Share Posted September 19, 2010 Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: One example we did not have time to do a formal viewing £375,000 Our valuation way off if you include what needs to be spent on updating the shop. Equipment including the range must be over 15 years. Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted September 19, 2010 Share Posted September 19, 2010 Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: One example we did not have time to do a formal viewing £375,000 Our valuation way off if you include what needs to be spent on updating the shop. Equipment including the range must be over 15 years. Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. Good luck... but even if you get it for £250,000, that is a lot of money to have to find by selling fish and chips in a small Cornish village. Quote Link to comment Share on other sites More sharing options...
Misanthrope Posted September 19, 2010 Share Posted September 19, 2010 Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: One example we did not have time to do a formal viewing £375,000 Our valuation way off if you include what needs to be spent on updating the shop. Equipment including the range must be over 15 years. Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. The UK isn't worth a jack penny of what it think's it's worth in any currency. It's all notional. Absolutely nothing, apart from bluster, to back it up. Those numbers you're quoting are ludicrous. If you're seriously willing to commit that - that's you're funeral! Quote Link to comment Share on other sites More sharing options...
johnny5thumbs Posted September 19, 2010 Share Posted September 19, 2010 Good luck... but even if you get it for £250,000, that is a lot of money to have to find by selling fish and chips in a small Cornish village. and ... I hope you've got good Cornish credentials. Some of the villages don't always take too kindly to emits. Avoid Redruth and Camborne at all costs. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted September 19, 2010 Share Posted September 19, 2010 If you want to pay the mortgage @ 5% and If you make £1 from every portion you sell, you would need to sell around 160 portions every day in the busy 3 months of summer. 320 portions if you wanted to pay yourself £18,000 Smells a bit fishy to me. Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted September 20, 2010 Share Posted September 20, 2010 If you want to pay the mortgage @ 5% and If you make £1 from every portion you sell, you would need to sell around 160 portions every day in the busy 3 months of summer. 320 portions if you wanted to pay yourself £18,000 Smells a bit fishy to me. Maybe just the wrong plaice. If the figures don't stack up he could be floundering in a short time (or at least under water). Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted September 20, 2010 Share Posted September 20, 2010 (edited) Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: One example we did not have time to do a formal viewing £375,000 Our valuation way off if you include what needs to be spent on updating the shop. Equipment including the range must be over 15 years. Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. Whats cheeky about a QUARTER OF A MILLION QUID? Sounds more when you say it like that doesn't it? Edited September 20, 2010 by tomwatkins Quote Link to comment Share on other sites More sharing options...
gus Posted September 20, 2010 Share Posted September 20, 2010 If you want to pay the mortgage @ 5% and If you make £1 from every portion you sell, you would need to sell around 160 portions every day in the busy 3 months of summer. 320 portions if you wanted to pay yourself £18,000 Smells a bit fishy to me. 60% ROGP in fish and chips. Hard pressed to beat. Quote Link to comment Share on other sites More sharing options...
Hino Posted September 20, 2010 Share Posted September 20, 2010 (edited) 60% ROGP in fish and chips. Hard pressed to beat. 60 % of 'naff all', isn't a lot . Doing business in a Cornish 'village' is a bloody art form Edited September 20, 2010 by Hino Quote Link to comment Share on other sites More sharing options...
gus Posted September 20, 2010 Share Posted September 20, 2010 60 % of 'naff all', isn't a lot . Doing business in a Cornish 'village' is a bloody art form As you say 60% of nowt pays no bills. Village life in Wales is similar; alienate a few locals and the business is soon down the swanny. Art form it is. Quote Link to comment Share on other sites More sharing options...
LetsGetReadyToTumble Posted September 20, 2010 Share Posted September 20, 2010 Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. I live up the road from Mullion. That business has had a For Sale sign on it for at least 2 years. Mind you, Mullion is a lively little place, and there are still a lot of locals around out of season. Most people living there are 'imports'. Quote Link to comment Share on other sites More sharing options...
TheIncomer Posted September 20, 2010 Share Posted September 20, 2010 Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: ... Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. Everything's priced for Incomers who came down with near infinite money until about 2009. Now Incomers have stopped coming. There are still a small number of retirees moving down, but even they are thin on the ground. Prices are starting to tumble. But it's going to be a long wait I'm afraid, because sellers have been pricing well above peak. Local estate agent which I watch closely seems to have completed sales at about 50% of 2008 level, so prices will come down. Quote Link to comment Share on other sites More sharing options...
Cinzano Bianco Posted September 20, 2010 Share Posted September 20, 2010 Just got back from viewing commercial properties in Devon and Cornwall. Valuations still need to come down, I feel sorry for the locals waiting to buy a home at a fair price. :angry: One example we did not have time to do a formal viewing £375,000 Our valuation way off if you include what needs to be spent on updating the shop. Equipment including the range must be over 15 years. Business been on the market since March with no offers, may phone the agents with a real cheeky offer of £250,000. I agree wholeheartedly with this sentiment, but the question is if this animosity exists, why did the locals sell in the first place? I think the anger against the "non-local" is misplaced. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 20, 2010 Share Posted September 20, 2010 I live up the road from Mullion. That business has had a For Sale sign on it for at least 2 years. Mind you, Mullion is a lively little place, and there are still a lot of locals around out of season. Most people living there are 'imports'. Doesnt Jenny Agutter live there? homage. Quote Link to comment Share on other sites More sharing options...
TheIncomer Posted September 20, 2010 Share Posted September 20, 2010 I agree wholeheartedly with this sentiment, but the question is if this animosity exists, why did the locals sell in the first place? I think the anger against the "non-local" is misplaced. My experience is there is very little animosity, the locals are too busy fleecing the Incomers to be angry. All the locals have just become builders and charge the Incomers exorbitant amounts to do up their new houses. Or sold them the houses in the first place. Many locals are rich, many Incomers are poor as a result. Quote Link to comment Share on other sites More sharing options...
timebandit Posted September 20, 2010 Author Share Posted September 20, 2010 (edited) Oh my cod, a couple of crabby comments I won't take the bait, maybe we will have to scale back our ideas. The business came on the market two years ago after the death of the hubbie? We won't be buying the shop, it needs about £80,000 of upgrading. If the shop had be done to the standards we expected our valuation of £250,000 would have been about right for todays market. Thankfully our credentials are more Cornish than a Cornish pilchard. Edited September 20, 2010 by timebandit Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.