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Friday Is Rent Day For The Shops

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http://www.guardian.co.uk/business/2011/jun/20/rent-day-high-street-bust

The high street could be hit by another wave of administrations as retailers prepare to stump up the latest quarterly rent payment, an insolvency expert has warned.

A wave of shops could be on the financial rack on Friday, when quarterly rents for commercial property are traditionally paid. A number of high-profile firms – including Whittard of Chelsea, clothes shop the Officer's Club and record shop Zavvi – have gone into administration shortly after "quarter day", which falls in late March, June, September and December, as they struggle to meet their rental obligations.

I thought Zavvi had already gone for a long walk in the woods. (scrub that, HMV bought them I think) :unsure: Not looking too great for the shops atm anyway, but maybe Christmas will see a turnaround.

Christmas 2030 that is.............. ;)

Edited by Wait & See

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Yep, the level of decimation continues every time I walk down the high street and not just shops, cast your eye skyward and empty offices above the shops abound.

How about sustainable lower rents that businesses can afford? What's that? You mean lower rents mean the banks wouldn't be paid all the commercial mortgage debt on the properties and they'd have massive holes in their balance sheets? Well they're not exactly getting paid while shops stand empty either, are they? Wonder how it will all end? B)

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Yep, the level of decimation continues every time I walk down the high street and not just shops, cast your eye skyward and empty offices above the shops abound.

How about sustainable lower rents that businesses can afford? What's that? You mean lower rents mean the banks wouldn't be paid all the commercial mortgage debt on the properties and they'd have massive holes in their balance sheets? Well they're not exactly getting paid while shops stand empty either, are they? Wonder how it will all end? B)

I'm wondering which council will be the first to make their town centre a nature reserve or picnic area?

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I heard some prat from a council on the news this morning saying that he would rather see shops reopened as opposed to fake shop fronts as the council would then get rates. He is from the council and didn't know that the shop is still liable for rates, trading or not. The only difference is that the landlord is stung for it rather than the tenant.

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I heard some prat from a council on the news this morning saying that he would rather see shops reopened as opposed to fake shop fronts as the council would then get rates. He is from the council and didn't know that the shop is still liable for rates, trading or not. The only difference is that the landlord is stung for it rather than the tenant.

I thought that you only had to pay rates once the place had been empty for at least 6 months? (http://www.business-lawfirm.co.uk/Blog/2008/08/Avoiding-business-rates-on-empty-property/)

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I thought that you only had to pay rates once the place had been empty for at least 6 months? (http://www.business-lawfirm.co.uk/Blog/2008/08/Avoiding-business-rates-on-empty-property/)

Even though the numbers must be staggering and a lot of landlords must be feeling the pain the number of boarded up shops and offices I have seen empty for 6 Months +.

Mind you aren't most of these pensions funds and the like?

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I heard some prat from a council on the news this morning saying that he would rather see shops reopened as opposed to fake shop fronts as the council would then get rates. He is from the council and didn't know that the shop is still liable for rates, trading or not. The only difference is that the landlord is stung for it rather than the tenant.

I read recently that the greedy b'stards are lobbying Cameron to fiddle it for them so they don't pay rates when empty!

- another local taxpayer fraud where rich people get all the gains from commercial property rises + raising the rents till firms go bust, then demanding to be subsidised by the ordinary taxpayer when property is vacant.

Pure scammy fraud!

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Even though the numbers must be staggering and a lot of landlords must be feeling the pain the number of boarded up shops and offices I have seen empty for 6 Months +.

Mind you aren't most of these pensions funds and the like?

Landlords don't feel pain. They just sit on unrealised profits. Having real tenants would spoil the delusions.

They should pay full council tax, and be forced to bring them into proper usage or face massive fines (I can dream cos I know that won't happen).

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Landlords don't feel pain. They just sit on unrealised profits. Having real tenants would spoil the delusions.

They should pay full council tax, and be forced to bring them into proper usage or face massive fines (I can dream cos I know that won't happen).

when you p rick them, they do bleed... ;)

Edited by douggggy

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Here's another fiddle the Conservatives are sticking in for the already wealthy.

How a 'portfolio' where investors buy 10's/100's of houses previously lumped together (for transaction taxation) are now split into individual purchases for the rich to avoid paying the proper taxes on all of them!

One of the biggest obstacles to developing a portfolio of properties has been the linked transaction rules of Stamp Duty Land Tax ('SDLT').

These rules meant that if a property investor wanted to purchase several properties the rate at which SDLT was levied was based on the total cost of the properties. Thus, if the property investor purchased five properties at £150,000 each for a total cost of £750,000 the SDLT payable would be levied at a rate of 4% - £30,000.

Under the new provisions, the property investor can elect to pay SDLT on the average value of the properties with a minimum rate of 1%. Using the above example, the SDLT would be levied at 1% giving an SDLT bill of £7,500- a reduction of £22,500!

The relief will be introduced in the Finance Bill 2011 with effect from Royal Assent.

http://www.iconvey.c...71975/index.php

Edited by erranta

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I thought this was going to be a thread about the date in the calendar year when, ignoring all other costs, the average shop has made enough money to pay its annual rental charge.

Don't think that's due for another 5-6 months.

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Arent landlords going to get charged full business rates irrespective of whether theres anyone in there or not? Wasnt this behind the rise in the number of charity shops popping up as they dont have to pay the same level of rates?

I've noticed a huge rise in pubs for sale recently, presumably down to this.

Pubs that would previously be left lying empty are up for sale for 150k (freehold).

Several tied pubs have also appeared for tiny sums (<10k), but are an obvious poisoned chalice with the tie.

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Arent landlords going to get charged full business rates irrespective of whether theres anyone in there or not? Wasnt this behind the rise in the number of charity shops popping up as they dont have to pay the same level of rates?

I have a cunning plan, the charity pub? Problem solved. Buy a pint, browse the rails and a discount in the business rates.

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My local regional shopping centre likes to boast about 100% occupancy rates. Well, thats rubbish because at last count I noticed at least 6 empty shops. They are hard to spot because when a shop shuts the owners put plasterboard and nice frontage all over where the shop was and make it blend into the shopping building structure.

There are less shoppers because the Lib Dem controlled council put parking up by loads at the worst time. So now the car spaces are empty and the shops quiet. Well done Lib Dems you traffic light, bus lane worshipping, car hating bunch of morons.

Edited by Spoony

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Wonder if the timing of Moben is connected with the quarter day? Anyone got any ideas/links?

According to The Manchester Evening News:

A Sun spokesman said: "Unfortunately, the company’s performance was severely impacted by the rising levels of unemployment and a very difficult housing market – all factors leading to a steep and continued decline in demand. Orders declined even more rapidly in the first half of 2011, further underpinning the negative trends in the business."

So, not only did the market stay difficult, and not only did it decline further, but the rate at which it is getting worse has accelerated!

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Are developers picking up these large pub sites?

Even the regulars are starting to drink a couple of pints in the pub, and the rest are cans smuggled in from the off-licence. Then there's the lot who have a mobile pub who walk down the road with their can.

I get the feeling though some think they can make it work ploughing their life savings into a pub.

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • up 5%



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