shop lease renewal

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shop lease renewal

Postby sisters » Tue Jun 26, 2018 8:54 pm

My lease is up for renewal. Not high street but close enough ,wondered if any body had renewed recently and at what terms?
we are offered same rates as last ten years. on a ten year lease with break clause at year five ,
is it worth paying somebody to negotiate better terms , we rent through an agent
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Re: shop lease renewal

Postby misterdiy » Wed Jun 27, 2018 11:22 am

This assumes that your High Street is the same as it was 10 years ago and that there are no empty shops lurking nearby. It also assumes that your Business Rates are no worse than 10 years ago (regarding valuation - not actual sum paid)

It also depends whether your lease has an "upward only" clause for renewal. These were very common a few years ago.

We were in a secondary position with 3 year rent reviews, each year rent increasing by RPI and each review they tried to negotiate it up. We never accepted that and had "holidays from the inflation clause.
To negotiate a better deal, you will have to be prepared to walk away (like they do for Brexit :lol: ) which may be a challenge you dont want.
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Re: shop lease renewal

Postby Not your average framer » Wed Jun 27, 2018 11:11 pm

I'm not an expert on these things, but I have just moved out on one shop and I am about to move into another shop in the next few days. I can already tell you that the upheaval is enomous and I'm only moving three doors along the road. I had no choice about this and was struggling to find somewhere that I felt was the right place and with the right landlord. I've been in the same shop for forteen years, again with no rent increases.

I am pleased to have found a shop really close to where I already had been located and a really kind and genuine landlord. In my case, it was not just the terms of the lease, but also the bigger picture and how I will cope as years go by. I hope that you have enough time to look around and see what your options might be like if you needed to move on to somewhere else,this may help to be able to understand your existing situation in context of what it would be like if you choose to relocate instead.
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Re: shop lease renewal

Postby Steve N » Thu Jun 28, 2018 8:21 am

mine is up in about 2 1/2 years time, so I'm retiring :ninja: :ninja: :dance: :dance:

as misterdiy say's if you want to negotiate a better deal, you will have to be prepared to walk away, you should be now looking for new premises ( which could be used as a negotiating chip, such as market value etc) , also bear in mind that your existing customer will need to find you, you may lose customers, but you will also gain new customers with move
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Re: shop lease renewal

Postby kev@frames » Sat Jul 07, 2018 9:11 pm

I think I'll be retiring at the end of the year too. One more season.
Does the phrase "been there, got the t-shirt and had enough aggro after 25 years" sum it up.
We'l be doing B&B for bikers. secure garage, charging, drying facilities, poldark country. :rock: :rock: :rock:
As pretty much the last remaining framers in town good luck to them buying their carp on amazon and ebay, look forward to some new blood opening up and cleaning up :giggle:
Shame the state of retail these days that selling a business is a rare option.
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Re: shop lease renewal

Postby Not your average framer » Sat Jul 07, 2018 11:45 pm

Hi Kev,

Sorry to hear that you're going after next year. It's not always that easy in parts of Devon, but I know it's a ot more difficult your side of the border. I would not survive at all with a business trading largely on the internet. It was nice meeting you all those years ago at Venton's and may I wish you all the best for the future.

Mark
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Re: shop lease renewal

Postby kev@frames » Sun Jul 08, 2018 2:42 pm

I won't be entirely deserting the business, probably keep the shop ticking over till I get to actual retirement age, but I'll take business as it comes, and may completely drop the online side of things which seems to have got so much more aggravation lately and is very time consuming for me and staff alike. None of us enjoy that side of it.

We can get all the shop orders every week done in a couple of days work, hoping to spend the rest of my time on something completely different, and leisure of course :D
It's been a nice job over the years with ups and downs, on balance mostly ups.
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Re: shop lease renewal

Postby misterdiy » Mon Jul 09, 2018 7:39 pm

Best of luck Kev. I wondered how much like hard work B&B would be. Itcseems a nightmare if you are relying on the publics' foibles, but bikers should be OK. Mostly full English :lol:

We have just packed up and sold everything off, so whats the first thing that happens? yes I need to reframe some pics. Still never mind as we are selling up and moving to the Isle of White to live very close to the sea. Then do another house up :roll:

Still, I make more money doing that than framing :roll:

Should be by the sea for August :ninja:
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Re: shop lease renewal

Postby kev@frames » Tue Jul 10, 2018 7:08 pm

You'll love the Isle of Wight. It's great.
I'm looking forward to just doing something different for a while, and sea views again :yes:
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