99p store – buy a London bike shop for less than a quid

[theloafer]

any takers on here ... http://road.cc/content/news/141087-99p-store-–-buy-london-bike-shop-less-quid

 

[TissoT]

Seems as if the buyer is inheriting a large rent and rates Bill ...
for the next X amount of years .

 

[Beebo]

I guess you dont have to run it as a bike shop, but £28,000 rent and rates is going to put off most buyers.

 

[Sandra6]

I'm not sure what it is they're selling. No stock. No goodwill. Just the right to rent the space? 99p seems steep for nothing

 

[EltonFrog]

five hundred quid a week just for the rent and rates! No wonder shops are closing down.

 

[BrynCP]

I'm not sure what it is they're selling. No stock. No goodwill. Just the right to rent the space? 99p seems steep for nothing

I was thinking the same.

 

[swee'pea99]

five hundred quid a week just for the rent and rates! No wonder shops are closing down.

That's not far from me, and every night when I go out for my pint I pass half a dozen restaurants, generally with one or maybe two tables at most occupied (often none) and I just cannot imagine how they manage to stay open, month in, month out. What with cooking, waiting & management staff, not to mention all the bills other than rent & rates...I really don't get it.

 

[KneesUp]

As a shop owner I think the rent and rates are quite low, given that it's in that London.

 

[subaqua]

That's not far from me, and every night when I go out for my pint I pass half a dozen restaurants, generally with one or maybe two tables at most occupied (often none) and I just cannot imagine how they manage to stay open, month in, month out. What with cooking, waiting & management staff, not to mention all the bills other than rent & rates...I really don't get it.

Christmas season from end of october and weekends . place i worked at in N Wales made the big money for the year in that 12 weeks from end of October . the rest of the year was keeping a presence ready for the big money.

 

[Truth]

That's not far from me, and every night when I go out for my pint I pass half a dozen restaurants, generally with one or maybe two tables at most occupied (often none) and I just cannot imagine how they manage to stay open, month in, month out. What with cooking, waiting & management staff, not to mention all the bills other than rent & rates...I really don't get it.

They call it a money laundering gaff by me!

 

[Turbo Rider]

They're just selling the liability of the lease...it means the landlord is holding them liable for the remainder of the term of their lease but has agreed to let them out of it if they find a suitable occupant. Will save them thousands and reduce their debts...damage limitation.

 

[shadow master]

I was thinking the same.

Welcome the the world of retail! People think you just open the door and people walk in!

 

[Roadrider48]

And not any chance at a glimpse of the books either!