kevster Posted September 6, 2022 Share Posted September 6, 2022 58 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. When I worked in there, the rent was high but the biggest pain was the charge for the upkeep of the communal areas, ie those open to the public Quote Link to comment Share on other sites More sharing options...
Kopek Posted September 6, 2022 Share Posted September 6, 2022 It may have seemed such a good idea 20 years ago but with so many small and eager opperators now wanting to0 get into the market, it's a rental per space that is no longer viable??? Quote Link to comment Share on other sites More sharing options...
Two-lane Posted September 6, 2022 Share Posted September 6, 2022 47 minutes ago, NoTailT said: It seems a cheap buy for the size of building on the prom. 21 minutes ago, snowman said: Could do so much more with that place. Start off by filling each floor so there's no atrium The design seems to me weird. A lot of fresh air to pay rent on. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted September 6, 2022 Share Posted September 6, 2022 1 hour ago, kevster said: When I worked in there, the rent was high but the biggest pain was the charge for the upkeep of the communal areas, ie those open to the public But where else is there to go really that offers similar to tower house in terms of those smaller suites? Quote Link to comment Share on other sites More sharing options...
Passing Time Posted September 6, 2022 Share Posted September 6, 2022 1 hour ago, snowman said: Could do so much more with that place. Start off by filling each floor so there's no atrium Should have lowered the rents and not taken in offices. It was supposed to be a shopping centre 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted September 6, 2022 Share Posted September 6, 2022 3 hours 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. He isn’t being negative or starting rumours, he is merely stating a fact. He is entitled to express an opinion. 1 Quote Link to comment Share on other sites More sharing options...
thommo2010 Posted September 7, 2022 Share Posted September 7, 2022 The cafe at Waterstones seems to be struggling, I like to go in there for a brew but for a while they have been chopping and changing their opening times and now they have just closed due to staff shortages Quote Link to comment Share on other sites More sharing options...
BriT Posted September 7, 2022 Share Posted September 7, 2022 43 minutes ago, thommo2010 said: The cafe at Waterstones seems to be struggling, I like to go in there for a brew but for a while they have been chopping and changing their opening times and now they have just closed due to staff shortages It’s never been the same since that terrible rude shouty little man had the Costa in there. 1 Quote Link to comment Share on other sites More sharing options...
0bserver Posted September 7, 2022 Share Posted September 7, 2022 The fact Noa are looking to scale back may finally set some alarm bells ringing among the higher level chinless wonders in our civil service. https://www.manxradio.com/news/isle-of-man-news/noa-bakehouse-scaling-back-as-it-prepares-for-bumpy-ride/ They live in an artisan-shite filled world so this is probably on a wavelength they may be able to comprehend. 5 Quote Link to comment Share on other sites More sharing options...
Bandits Posted September 7, 2022 Share Posted September 7, 2022 (edited) 11 minutes ago, 0bserver said: The fact Noa are looking to scale back may finally set some alarm bells ringing among the higher level chinless wonders in our civil service. https://www.manxradio.com/news/isle-of-man-news/noa-bakehouse-scaling-back-as-it-prepares-for-bumpy-ride/ They live in an artisan-shite filled world so this is probably on a wavelength they may be able to comprehend. Miles has had more than enough DfE cash over the years. Noa has been the main poster boy for the sort of success they’ve been trying to convince us their support generates. An artisan wank-fest of middle class pretentiousness. If you go back to all the nonsense spoken about Ramsey Bakery closing it was then said - well someone like Noa will pick up the slack. Yet 3 months later they’re actually scaling back. I’d presume because they know that the time of most families having a spare £4 to buy a loaf of bread has gone. It won’t focus governments mind though. Nothing will. But there are going to be an awful lot of closures and scale downs in the next 3 months. Edited September 7, 2022 by Bandits Typo 5 Quote Link to comment Share on other sites More sharing options...
2112 Posted September 7, 2022 Share Posted September 7, 2022 1 hour ago, 0bserver said: The fact Noa are looking to scale back may finally set some alarm bells ringing among the higher level chinless wonders in our civil service. https://www.manxradio.com/news/isle-of-man-news/noa-bakehouse-scaling-back-as-it-prepares-for-bumpy-ride/ They live in an artisan-shite filled world so this is probably on a wavelength they may be able to comprehend. Yes, most of them can afford daily £4 loaves which last 24 hours. Whilst I have some sympathy for Noa as a business who have put a lot of work and resources inti the venture, as taxpayers there are other businesses where I have more sympathy for. Noa have expanded, and unfortunately they have possibly bitten off more than they can chew. There are some businesses which through no fault have suffered (abeit some are badly run, old fashioned, surly and inefficient). Life is tough. 1 Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted September 7, 2022 Share Posted September 7, 2022 2 hours ago, 0bserver said: The fact Noa are looking to scale back may finally set some alarm bells ringing among the higher level chinless wonders in our civil service. https://www.manxradio.com/news/isle-of-man-news/noa-bakehouse-scaling-back-as-it-prepares-for-bumpy-ride/ They live in an artisan-shite filled world so this is probably on a wavelength they may be able to comprehend. I have to point out (again) that there seems little evidence that Noa are 'scaling back' when they are actually moving into bigger premises. At most they seem to be baking a little less bread and more of other things, possibly because they are now running two cafes instead of one. Though I suspect the demise of Ramsey Bakery has lead to more alternatives being imported and more competition for Noa at the top end of the market. Quote Link to comment Share on other sites More sharing options...
2112 Posted September 7, 2022 Share Posted September 7, 2022 1 minute ago, Roger Mexico said: I have to point out (again) that there seems little evidence that Noa are 'scaling back' when they are actually moving into bigger premises. At most they seem to be baking a little less bread and more of other things, possibly because they are now running two cafes instead of one. Though I suspect the demise of Ramsey Bakery has lead to more alternatives being imported and more competition for Noa at the top end of the market. Are they suffering? Or is life in their garden tickety boo? They put out a Facebook post saying they are experiencing or expecting a bumpy patch, but the signals and actions are somewhat confusing. Quote Link to comment Share on other sites More sharing options...
kevster Posted September 7, 2022 Share Posted September 7, 2022 15 minutes ago, Roger Mexico said: I have to point out (again) that there seems little evidence that Noa are 'scaling back' very little evidence? Quote Link to comment Share on other sites More sharing options...
HiVibes Posted September 7, 2022 Share Posted September 7, 2022 8 minutes ago, kevster said: very little evidence? Savvy marketing. Quote Link to comment Share on other sites More sharing options...
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