Network Rail's Solutions Tenancy Agreement.
Discussion
Just spotted a little unit that might be worth looking at.
Closer to home than my current place, more footfall (it's a basement unit close to a station), about the same price as I'm paying now in a similarly sized indstrial estate unit that really no longer suits me for various reasons. (cold, dirty, depressing to name but a few!)
I've emailed for more info but got an out of office reply so in the meantime,I thought where better to ask than on PH!
From the limited bumf I can see online, it's available on 'Network Rail's Solutions Tenancy Agreement'.
Anyone have any experience of Network Rail as a Landlord? Any gotchyas to watch out for?
It's been vacant for a while and there's other vacant property nearby (although much bigger - like Woolies!) so will be pushing for a better deal.
Anyone got any feedback on Network Rail's attitude to Rent-free periods, reduced rent, reduced deposit etc.
I'll struggle a bit with the cashflow of moving but if I can get it at the right price/deal then it could work out very nicely for me so worth a look I feel.
Cheers - PBF
Closer to home than my current place, more footfall (it's a basement unit close to a station), about the same price as I'm paying now in a similarly sized indstrial estate unit that really no longer suits me for various reasons. (cold, dirty, depressing to name but a few!)
I've emailed for more info but got an out of office reply so in the meantime,I thought where better to ask than on PH!
From the limited bumf I can see online, it's available on 'Network Rail's Solutions Tenancy Agreement'.
Anyone have any experience of Network Rail as a Landlord? Any gotchyas to watch out for?
It's been vacant for a while and there's other vacant property nearby (although much bigger - like Woolies!) so will be pushing for a better deal.
Anyone got any feedback on Network Rail's attitude to Rent-free periods, reduced rent, reduced deposit etc.
I'll struggle a bit with the cashflow of moving but if I can get it at the right price/deal then it could work out very nicely for me so worth a look I feel.
Cheers - PBF
I haven't dealt with Network Rail, but if they are anything like TFL the property department will be stuffed with jobsworths who don't give a toss one way or another. If you don't like the deal that they offer, then they will just shrug their shoulders and go back to reading the Sun. Oh, and if you do manage to agree anything, it will take them months to complete the legal paperwork. I'm not trying to dampen your enthusiasm, but this is the nature of the beast you will be dealing with. Good luck.
That merely confirms my suspicions! 
Being so big they don't actually need to have the rental income (although it's obviously factored in somewhere) so can afford to be a bit take it or leave it.
Hohum. We'll see.
I don't need to rent it either, I can always stay put so it's not as if there's an emotional feeling that you get when trying to startup for example.
cheers
Being so big they don't actually need to have the rental income (although it's obviously factored in somewhere) so can afford to be a bit take it or leave it.
Hohum. We'll see.
I don't need to rent it either, I can always stay put so it's not as if there's an emotional feeling that you get when trying to startup for example.
cheers
At places like Euston, the rent is comparable with other units around the same area, BUT they also ask for a percentage of profits (based on average footfall x average spend) - that's why you tend to see prices 50% higher at places like Burger King, etc. (plus they want more profit from a captive audience anyway).
I have negotiated deals with them in the passed for clients and (for my sins) did work for TFL dealing with retail lettings many moons ago.
You'll get a rolling 6 month tenancy which is totally weighted in the landlords favour. The reason for this is the property forms part of an operational railway which is far more important than the income produced. There will be little room to negotiate as they aren't crying out for the income and the enquiries trickle in.
It's a straight forward contract so you should be able to get occupation relatively quickly if you agree to their terms and have the cash. You'll have to push it through as the guys will have a million other deals going on.
Lastly arches leak so you'll want one which is lined - most but no all are.
You'll get a rolling 6 month tenancy which is totally weighted in the landlords favour. The reason for this is the property forms part of an operational railway which is far more important than the income produced. There will be little room to negotiate as they aren't crying out for the income and the enquiries trickle in.
It's a straight forward contract so you should be able to get occupation relatively quickly if you agree to their terms and have the cash. You'll have to push it through as the guys will have a million other deals going on.
Lastly arches leak so you'll want one which is lined - most but no all are.
Thanks to you all for the input so far.
I'm going to have a look at it at some point over the next few days. Any further ideas on things I need to check while I'm there?
It's not an arch, it's a basement shop unit on a main road adjacent to a local rail station. It has the benefit of giving me greatly increased footfall at very low cost. It's undoubtedly cheap because it's down some stairs but I can probably tolerate that, I don't have the budget for a full-on retail unit - this is a nice stepping stone. What I want is a workshop that doubles as a drop-off point for PC repairs and of course gives the opportunity for up/crosselling which my present location doesn't really offer as it's not very public facing.
They want 3 month's rent as a deposit and are offering an initial rent free period of 6 months (for a 3 yr tenancy). They've indicated they won't move on the deposit but have readily offered the rent-free incentive.
There's also a survey/agreement fee of a couple of hundred quid, might be worth seeing if they'd waive that. Every little helps.
It's got roller shutter protecting the entrance & barred windows so should be secure enough with minor modifications.
What questions should I be asking over & above checking if the place is big enough/in good condition generally?
There's a back gate, but that seems to open onto a supermarket loading area so couldn't be used for customers. Might be handy for moving stuff in initially though. Need to check that.
Need to check rates with Council. But it's the same council so have an idea what to expect.
Insurance. They say buildings insurance req'd. What's a normal level of cover?
Need to check if any plans for other adjacent retail unit that might impact on me.
Check water/phone availability. It's an outside bog. So probably fairly scummy but can cope with that.
Responsibility for building/drains repairs?
I'm doubtless missing loads from my list so far - what else?
Many thanks. PBF
I'm going to have a look at it at some point over the next few days. Any further ideas on things I need to check while I'm there?
It's not an arch, it's a basement shop unit on a main road adjacent to a local rail station. It has the benefit of giving me greatly increased footfall at very low cost. It's undoubtedly cheap because it's down some stairs but I can probably tolerate that, I don't have the budget for a full-on retail unit - this is a nice stepping stone. What I want is a workshop that doubles as a drop-off point for PC repairs and of course gives the opportunity for up/crosselling which my present location doesn't really offer as it's not very public facing.
They want 3 month's rent as a deposit and are offering an initial rent free period of 6 months (for a 3 yr tenancy). They've indicated they won't move on the deposit but have readily offered the rent-free incentive.
There's also a survey/agreement fee of a couple of hundred quid, might be worth seeing if they'd waive that. Every little helps.
It's got roller shutter protecting the entrance & barred windows so should be secure enough with minor modifications.
What questions should I be asking over & above checking if the place is big enough/in good condition generally?
There's a back gate, but that seems to open onto a supermarket loading area so couldn't be used for customers. Might be handy for moving stuff in initially though. Need to check that.
Need to check rates with Council. But it's the same council so have an idea what to expect.
Insurance. They say buildings insurance req'd. What's a normal level of cover?
Need to check if any plans for other adjacent retail unit that might impact on me.
Check water/phone availability. It's an outside bog. So probably fairly scummy but can cope with that.
Responsibility for building/drains repairs?
I'm doubtless missing loads from my list so far - what else?
Many thanks. PBF
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