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One Store In Eight At Risk Of Collapse


uztopride

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HOLA441
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HOLA442
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HOLA443

Why buy when prices are falling?....why buy when interest rates are zero and the only way is up?

.......Don't buy today....rent at the right price...holding your cards to your chest. ;)

purely because for retailers, property is (was?) a cost of sales; and security of tenure; as afforded by a lease, allows continuance of trade (with the assumption that, trade is profitable)

renting also (often) requires longer term commitment in the commercial sector, especially for the retail sector

a landlord may well grant a shorter term lease, but it is likely to be excluded from the renewal provisions of the 1954 L&T Act, which in short means the tenant retailer can be booted out.

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HOLA444

purely because for retailers, property is (was?) a cost of sales; and security of tenure; as afforded by a lease, allows continuance of trade (with the assumption that, trade is profitable)

renting also (often) requires longer term commitment in the commercial sector, especially for the retail sector

a landlord may well grant a shorter term lease, but it is likely to be excluded from the renewal provisions of the 1954 L&T Act, which in short means the tenant retailer can be booted out.

.....so more homes are now becoming businesses... two for the price of one....... ;)

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HOLA445
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HOLA446

Went into the jet petrol station in Cockfosters recently. Guy on the till told me they are knocking it down and BP and m&s are coming in. Said the landlord got greedy and wanted £250000 annual rent. His opinion, with 30 years in the industry, was they won't turn a profit with that rent.

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HOLA447
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HOLA448

I don't know how Austin Reed make any money at all. I keep seeing coats for £75, reduced from £300. :huh:

They are probably made in a Chinese death/slave camp for few dollar. Now we know why, to feed the rentiers. My clothes, what I need come from charity shops.

Had to laugh at my local House of Fraser and its "reduced" prices on Ben Sherman jackets, Yeh when it was a decent British brand made in a British factory, but not made in a slave/command economy, pull the other one.

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HOLA449

Can't buy won't buy......Chutney for Christmas, its the thought that counts and the effort that goes into making it. ;)

Done this for years

Juts happened that today I picked 10lbs sloes from the hedge for sloe jelly and sloe gin, and collected 12lbs crab apples from the middle of a lane, OK, they need the mud washing off, but once clean they'll make apple, apple and mint, and apple and sage jelly. Then went to go to get 30 jars of Morrisons' Value sliced pickled beetroot for their 1lb jam jars and got 10lbs of sell by date strawberries for a fiver.

Xmas sorted :)

Crap year for blackberries here though.

Edited by LiveinHope
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HOLA4410

Went into the jet petrol station in Cockfosters recently. Guy on the till told me they are knocking it down and BP and m&s are coming in. Said the landlord got greedy and wanted £250000 annual rent. His opinion, with 30 years in the industry, was they won't turn a profit with that rent.

But BP and M&S are part of the corporate ponzi/plundering team. They can afford to just ride it out and drive out the smaller competition such as Jet.

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HOLA4411

Al lthis stuff about rents is interesting, but the relaity is that inflation is now stopping millions of us from spending apart from on food, fuel/heating and perhaps clothing.

The measures taken by Brown/Osbourne/King have failed miserably other than making a super rich elite of bankers richer. It is a bankrupt, no pun intended, policy.

They have no idea. None at all.

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HOLA4412

Ooh my. The real story isn't the shops, but the rents. Rents get reduced to a level where a shop can make money, as the alternative is an empty shop. Which in turn makes commercial property lending go bad. Which puts banks that did lots of this lending in a spot. HBOS again springs to kind.

Some are beyond saving, but others can survive with reduced rents. The other factor is online sales, which have gathered pace - look at Amazon!

What will happen to commercial property prices? They fell about 40%, unlike residential property, but are they on the block again ? views?

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HOLA4413

Spend your savings to buy Chinese made tat you don't need to "save" the high street.

And when the savings run out, then what?

China has made lots of money and the British public hasn't got a pot to p*** in!

Brilliant!

+1

btw the more I see the standard of living in other countries, the freedoms, the good food, the family life and much less crime than the UK - the more I wonder why on earth any of us even want to stay in some parts of Britain. Sure, I know some parts of the country are beautiful, but there's so much more to do abroad and all far cheaper and better. If I were 10 years younger I'd not dream of staying in England

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HOLA4414
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HOLA4415

I don't know how Austin Reed make any money at all. I keep seeing coats for £75, reduced from £300. :huh:

I saw a documentary on TV not so long ago reporting on a super factory in Turkey knocking out suits for all the high end stores/brands.

re. the rents... friend of mine owns two shops that he rents out in a nice area of Shropshire (lots of Michelin starred restaurants nearby) anyway he's had lots of voids and short let's to non entity startups such as sweet shops that invariably fall behind on the rent. His only one good tennant of the last few decades approached him two years ago offering £190k for the freehold, as he owned it outright I told him he'd be stupid not biting off their hand... he declined and they found alternative premises.

I helped him sell his house at the time ensuring he got the best price possible (£330k with a 250k mortgage)... he put the £80k into a BTL last year taking on a £100k mortgage against my advice :rolleyes: to supplement his retirement (had been living in Spain as retired). Bumped into him today, he's moved back to the UK as all his investment properties have gone pear shaped - banks won't refinance and to cap it off he's supplementing his income gambling on the sports... lost £2k on the tennis today!

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HOLA4416
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HOLA4417

They will only prefer to sit on empty shops if they think there is a good chance of securing a higher rent within a certain time span.....when that doesn't materilise they will cut their losses pretty quick, that time span is reducing all the time, then they will take what they can get and be done with it. ;)

Not so, many are multiple shop owners or near monopoly suppliers of such premises (otgether with their mates / other companies), would rather leave some empty and keep screwng full rents out of the rented properties and not reduce rents as a result.

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HOLA4418

So is it not in the government of the day best interest to keep the small businesses, the low and medium paid working people contented, rather than concentrating on the big top knob tax avoiders and evaders appeased....those in the majority have a bigger say and the apathetic minority is slowly becoming the aware majority. ;)

Contributions to party funds, to swing the votes of those that don't just vote for the same party all previous generations of their family did.

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HOLA4419

Done this for years

Juts happened that today I picked 10lbs sloes from the hedge for sloe jelly and sloe gin, and collected 12lbs crab apples from the middle of a lane, OK, they need the mud washing off, but once clean they'll make apple, apple and mint, and apple and sage jelly. Then went to go to get 30 jars of Morrisons' Value sliced pickled beetroot for their 1lb jam jars and got 10lbs of sell by date strawberries for a fiver.

Xmas sorted :)

Crap year for blackberries here though.

You can often find the old style kilner jars at boot sales. Lakeland sell the rubber seal rings. Makes home made chutney look really special for little extra cost (and ask for the jar back with the promise of a refill)

Kilner1.jpg

post-11344-0-89378300-1315218683_thumb.jpg

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HOLA4420

Went into the jet petrol station in Cockfosters recently. Guy on the till told me they are knocking it down and BP and m&s are coming in. Said the landlord got greedy and wanted £250000 annual rent. His opinion, with 30 years in the industry, was they won't turn a profit with that rent.

That is shocking.....that station used to be one of the better priced for petrol in the area, when there was a differential that was worth something......another petrol station not that far away closed the land sold and a block of flats built on the land. ;)

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HOLA4421

Not so, many are multiple shop owners or near monopoly suppliers of such premises (otgether with their mates / other companies), would rather leave some empty and keep screwng full rents out of the rented properties and not reduce rents as a result.

There is that I suppose......depending on the area the tactic is to price out or swallow up the competition. :unsure:

....the big corporates together with bank lending policies/price are making it very hard for the average small business to survive.....soon to be no longer 'a nation of shopkeepers'. ;)

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HOLA4422

That is shocking.....that station used to be one of the better priced for petrol in the area, when there was a differential that was worth something......another petrol station not that far away closed the land sold and a block of flats built on the land. ;)

+1 always came top of the price comparison sites for the cheapest fuel. Didn't know you were a local Mr W

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HOLA4423

Not so, many are multiple shop owners or near monopoly suppliers of such premises (otgether with their mates / other companies), would rather leave some empty and keep screwng full rents out of the rented properties and not reduce rents as a result.

That strategy might work, chances are it won't. Shop owners will know of other rents, and might even be approached by other landlords. If the rent differential gets too big, they will ask for a lower rent. If they don't get it, they will move.

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HOLA4424

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