Thursday, February 21, 2008

Hot News: Greed is Bad !

Landlords, not retailers, kill communities

Of the commercial, rather than residential type, but considering that most people never get past the headlines it just adds to the drip, drip, drip of sentiment change.

Posted by ski @ 08:08 AM (658 views)
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3 thoughts on “Hot News: Greed is Bad !

  • Aldi have destroyed a small cheshire town called neston…..

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  • mark wadsworth says:

    Amazing. Yet another argument for Site Value Rating (to replace Business Rates, SDLT and capital gains tax). As land is in fixed supply and demand is price elastic, any tax on land values is borne by the landlord and not the tenant. As Landlord A benefits from the fact that Landlord’s B and C have attracted better-paying and more desirable tenants and overall gentrification, without Landlord A having lifted a finger, the extra SVR that Landlord A pays is a tax on an unearned windfall gain, and so the least-bad tax by a long chalk.

    Unfortunately, David Cameron, despite having done PPE at Oxford does not understand this, he said a while back that increases in Business Rates (which is fairly similar to SVR, only BR taxes the whole rent, SVR taxes only the location value) would ‘hurt small businesses’, unfortunately the dimwits in the SNP don’t understand this either.

    NB ‘SVR’ and Land Value Tax are the same thing.

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  • Commercial landlords always ruin areas. An individual landlord’s aim is to secure the highest rent – and that usually comes from a fried chicken takeaway, not from an independent bookstore.

    Large-scale landlords are actually better, surprisingly. For example Marylebone High Street is mostly owned by a single company, the Howard de Walden Estate. They actively seek out small independent businesses to fill their properties: this enhances the shopping value of the area as a whole. If Marylebone High Street was just another chain of Starbucks and Next then nobody would bother to visit; but the independent retailers make it a far more attractive proposition. A fried chicken takeaway might benefit an individual landlord, but it negatively affects the rest of the area.

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