Asthehills Posted September 6, 2022 Share Posted September 6, 2022 5 minutes ago, Numbnuts said: Tower house ... Dear customers Tomorrow Wednesday the 7th of september the kitchen will be closed due to staff shortage. We will be servind only drinks and cakes . We apologise for any inconvenience caused beginning of the end maybe ?? Nice in there tbh but really quiet last couple of times in there . Beginning of term time more like it. Why the negativity and inclination to start rumours. The staff they will have been using are back at school, give them a chance to sort it out. 1 Quote Link to comment Share on other sites More sharing options...
MrGarrison Posted September 6, 2022 Share Posted September 6, 2022 8 minutes ago, Asthehills said: A growing business with an opportunity to branch further into the market that the closure of Mr B’s all over Douglas has left open? It seems decent value to me. Go for it. It’s been on Crystals website for at least 2 years. Best get your chequebook out if it’s such a steal. 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted September 6, 2022 Share Posted September 6, 2022 16 minutes ago, offshoremanxman said: Is that the atrium cafe? Yes Quote Link to comment Share on other sites More sharing options...
AOR Posted September 6, 2022 Share Posted September 6, 2022 (edited) 3 hours ago, Passing Time said: Problem with advertising "repeat business" is that it's not guaranteed unless contractual. If the new owner is not liked then you're not getting any business never mind repeat business If this is the company suggested, didn't the guys set up after working at the place just along the way on the bridge? There was a court case that claimed they took away the business with them. They said they had memorized the clients names, addresses and phone numbers and so they had taken nothing away. ETA: Not meant as a criticism or anything, but just out of interest. There was a court case that was reported in the newspapers somewhat light-heartedly, calling one of the ex-employees and now newly set up guys "Memory Man". It was about 15 years ago. Edited September 6, 2022 by AOR 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted September 6, 2022 Share Posted September 6, 2022 14 minutes ago, Asthehills said: Beginning of term time more like it. Why the negativity and inclination to start rumours. The staff they will have been using are back at school, give them a chance to sort it out. No I really hope their fine as go in there quite often and like it.. great value too but noticably very quiet recently. The staff are nice too. The whole building is for sale too , 3.5 million I believe. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted September 6, 2022 Share Posted September 6, 2022 6 minutes ago, Numbnuts said: Yes It won’t be opening again. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted September 6, 2022 Share Posted September 6, 2022 14 minutes ago, Asthehills said: Beginning of term time more like it. Why the negativity and inclination to start rumours. The staff they will have been using are back at school, give them a chance to sort it out. Not for kitchen staff who I think have to be 16 or more and even sixth-formers are unlikely to be running a kitchen. More likely it's what it says it is - lack of catering staff given the number of vacancies in the sector. So they'll operate with just one set of staff (who may be sick of working long hours)and drop the quieter days. Quote Link to comment Share on other sites More sharing options...
Asthehills Posted September 6, 2022 Share Posted September 6, 2022 13 minutes ago, MrGarrison said: Go for it. It’s been on Crystals website for at least 2 years. Best get your chequebook out if it’s such a steal. I am plenty busy thanks and wouldn’t want the stress or the hours, but I don’t see how you can say it’s overvalued unless you have seen the books and they show a loss? Their is plenty of opportunity down there for a new owner with a bit of vision and ambition. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted September 6, 2022 Share Posted September 6, 2022 30 minutes ago, Numbnuts said: Tower house ... Dear customers Tomorrow Wednesday the 7th of september the kitchen will be closed due to staff shortage. We will be servind only drinks and cakes . We apologise for any inconvenience caused beginning of the end maybe ?? Nice in there tbh but really quiet last couple of times in there . Tower House building for sale too. It's a weird place in there, always eerie. 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted September 6, 2022 Share Posted September 6, 2022 1 minute ago, NoTailT said: Tower House building for sale too. It's a weird place in there, always eerie. It’s up for £3.5M which is cheap when compared to the build costs of a brownfield site in Central Douglas. The rental yields must be crap. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted September 6, 2022 Share Posted September 6, 2022 10 minutes ago, offshoremanxman said: It’s up for £3.5M which is cheap when compared to the build costs of a brownfield site in Central Douglas. The rental yields must be crap. 7.2% I reckon. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted September 6, 2022 Share Posted September 6, 2022 2 minutes ago, Roger Mexico said: 7.2% I reckon. “Rental income: £251,551 per annum with potential to increase rent to £325,231 per annum at full occupancy” They're going to get nowhere near full occupancy in the current market. Plus default risk from existing tenants. That said at £3.5M it seems fair value. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted September 6, 2022 Share Posted September 6, 2022 31 minutes ago, offshoremanxman said: “Rental income: £251,551 per annum with potential to increase rent to £325,231 per annum at full occupancy” They're going to get nowhere near full occupancy in the current market. Plus default risk from existing tenants. That said at £3.5M it seems fair value. It seems a cheap buy for the size of building on the prom. 1 Quote Link to comment Share on other sites More sharing options...
finlo Posted September 6, 2022 Author Share Posted September 6, 2022 1 minute ago, NoTailT said: It seems a cheap buy for the size of building on the prom. It'll be BOGOF before long if the cost of living predictions come to be! Quote Link to comment Share on other sites More sharing options...
snowman Posted September 6, 2022 Share Posted September 6, 2022 Could do so much more with that place. Start off by filling each floor so there's no atrium 1 Quote Link to comment Share on other sites More sharing options...
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