Discussion
I was acting for a client during 2012 and looked at a few options to capitalise on the Olympics.
The issue you'll have as a prospective tenant is offering a big enough brand to get the interest of the shop owner, assuming you're looking for a decent location.
The more usual Xmas type offers get a foothold in secondary locations and can be a pain in the arse for many landlords and managing agents. They do however help with holding costs.
The most successful one that springs to mind was Liam Gallaghers one on Carnaby St. where the letting boosted profile of the unit and could have helped with a longer term letting in the future. Long term income (and holding cost mitigation) being the aim of the landlord.
What end of the market are you looking at?
The issue you'll have as a prospective tenant is offering a big enough brand to get the interest of the shop owner, assuming you're looking for a decent location.
The more usual Xmas type offers get a foothold in secondary locations and can be a pain in the arse for many landlords and managing agents. They do however help with holding costs.
The most successful one that springs to mind was Liam Gallaghers one on Carnaby St. where the letting boosted profile of the unit and could have helped with a longer term letting in the future. Long term income (and holding cost mitigation) being the aim of the landlord.
What end of the market are you looking at?
Noel said:
What end of the market are you looking at?
Just an idea I'm toying with at the momoent, hence asking for experiences.An exceptionally benevolent and desperate landlord of some premium West End retail space would be ideal, obvs
In reality... do landlords actually charge for this? (i.e. more than an administrative fee) For an occupation of just a few days?
It depends on the individual locations, and that landlords appetite at the time. If the shop has been vacant for a long time try your luck.
The question is, what is the shop costing to sit vacant and will the temporary occupation offer any benefit in mitigating holding costs (rates if occupied for 42 days +) or help in the future marketing? And what is the potential downside in damage or rubbish left behind on vacation?
In many cases they landlords will have to pay and agent and a solicitor to get the deal done. And as an agent I wholeheartedly support this!
The question is, what is the shop costing to sit vacant and will the temporary occupation offer any benefit in mitigating holding costs (rates if occupied for 42 days +) or help in the future marketing? And what is the potential downside in damage or rubbish left behind on vacation?
In many cases they landlords will have to pay and agent and a solicitor to get the deal done. And as an agent I wholeheartedly support this!
Interesting take on pop-up I read about a couple of years back. Also believe you're in clothing, so could be relevant: http://thisisnailporn.tumblr.com/post/13558512004/...
Presumably easier to get cheap rates and only be there for a couple of days.
Presumably easier to get cheap rates and only be there for a couple of days.
22s said:
Interesting take on pop-up I read about a couple of years back. Also believe you're in clothing, so could be relevant: http://thisisnailporn.tumblr.com/post/13558512004/...
Presumably easier to get cheap rates and only be there for a couple of days.
Cool. Good to see they're still going too.Presumably easier to get cheap rates and only be there for a couple of days.
And at the same address as their pop-up shop!
There are now business rate issues to do with pop-up shops. If the shop is occupied for 6 weeks then the empty rates clock would be reset so the Landlord would benefit from a rates exemption on vacation. However they still may not want a temporary tenant because if a retail property has been vacant for more than 12 months it currently qualifies for 18 months of rates at 50% of the full charge subject to EU rules on state aid.
I had a firework shop when I was a teenager with a couple of mates for 2 weeks.
Caused mayhem in the town as everyone was setting off fireworks. We even made the local paper and the local MP tried to shut the shop down.
Main advice would be the more you spend the more you need to earn before you make a profit. Keep those overheads down!
It's going to be largely a punt so just give it a go!
Caused mayhem in the town as everyone was setting off fireworks. We even made the local paper and the local MP tried to shut the shop down.
Main advice would be the more you spend the more you need to earn before you make a profit. Keep those overheads down!
It's going to be largely a punt so just give it a go!
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