Changes on the High Street

[OLD BOY]

Originally Posted by jfman

The properties already exist nomad.

How do people afford homes? Loans.

Same principles apply without the need for parasite landlords.

Parasite landlords? You really do have an attitude problem, jfman.

If it was as easy as you suggest for small businesses to own their own properties instead of renting, doesn't it make you wonder why they are not doing it?

[Sephiroth]

Originally Posted by OLD BOY

Parasite landlords? You really do have an attitude problem, jfman.

If it was as easy as you suggest for small businesses to own their own properties instead of renting, doesn't it make you wonder why they are not doing it?

To elaborate on what OB has said: Small businesses that need to expand from home need premises. There are very few freeholds for sale and they might be able to afford monthly rent, but cannot get a mortgage for a freehold property as the business hasn't yet grown sufficiently.

Doesn't make all landlords "parasite", though if that's what jfman meant.

[jfman]

Originally Posted by OLD BOY

Parasite landlords? You really do have an attitude problem, jfman.

If it was as easy as you suggest for small businesses to own their own properties instead of renting, doesn't it make you wonder why they are not doing it?

It's not an attitude problem - it's reality.

It's extracting money from capital alone - it doesn't generate anything 'new' for the economy other than returns for the investors.

Of course it isn't easy for small businesses to own their own property - the price of said property is being driven up by the parasite landlords! It makes it more challenging, and less rewarding, for those great entrepreneurs you frequently tell us all about. Surely you, of all people on this forum, would think that's a bad thing?

---------- Post added at 20:28 ---------- Previous post was at 20:27 ----------

Originally Posted by Sephiroth

To elaborate on what OB has said: Small businesses that need to expand from home need premises. There are very few freeholds for sale and they might be able to afford monthly rent, but cannot get a mortgage for a freehold property as the business hasn't yet grown sufficiently.

Doesn't make all landlords "parasite", though if that's what jfman meant.

I'm not absolutist about it.

[nomadking]

"Capital alone"? They're providing a building and a whole host of other services. Who pays for the car parking spaces? The "capital alone" really applies to lenders. If they didn't exist, then people couldn't start up businesses, buy their homes, buy their business locations, etc. How else do the shopping centres get built in the first place.

[jfman]

Originally Posted by nomadking

"Capital alone"? They're providing a building and a whole host of other services. Who pays for the car parking spaces? The "capital alone" really applies to lenders. If they didn't exist, then people couldn't start up businesses, buy their homes, buy their business locations, etc. How else do the shopping centres get built in the first place.

You're using the narrow example of a new development shopping centre. Most High Streets aren't new developments, they are formed of existing properties that have stood for decades snapped up by speculative investors getting a higher return from rental than investing in shares.

A devaluation of property prices, and rental incomes, would be most welcome for the sector. That'd allow businesses (that employ local people) to flourish. A net positive.

[Sephiroth]

Originally Posted by jfman

It's not an attitude problem - it's reality.

It's extracting money from capital alone - it doesn't generate anything 'new' for the economy other than returns for the investors.

Of course it isn't easy for small businesses to own their own property - the price of said property is being driven up by the parasite landlords! It makes it more challenging, and less rewarding, for those great entrepreneurs you frequently tell us all about. Surely you, of all people on this forum, would think that's a bad thing?

---------- Post added at 20:28 ---------- Previous post was at 20:27 ----------



I'm not absolutist about it.

You are many "ists"!

[pip08456]

Originally Posted by jfman

You're using the narrow example of a new development shopping centre. Most High Streets aren't new developments, they are formed of existing properties that have stood for decades snapped up by speculative investors getting a higher return from rental than investing in shares.

A devaluation of property prices, and rental incomes, would be most welcome for the sector. That'd allow businesses (that employ local people) to flourish. A net positive.

I remember back in the late80's early 90's being a market trader wishing for a shop in a smallish town. The only option was to take on an existing lease from a business that was closing. No problem until I found out I would be also responsible for any repairs on the building as well. Needless to say I didn't bother.

Originally Posted by Sephiroth

Intu Watford and Victoria Centre Nottingham (particularly the former) are sited on high streets. They are a boon to the rest of the high street.

Originally Posted by Chris

Ah yes I was forgetting Watford - formerly known as the Harlequin Centre back when I lived in that neck of the woods. There’s a John Lewis in the Watford site and as you say, it’s attached to the high street. It’ll be fine.

So John Lewis will not reopen eight of its stores ... including the one in Watford. That's quite a surprise to me, though nationally I suspect their decision to shut down Birmingham permanently is the bigger shock. If John Lewis can't turn a profit in the UK's second city, what next?

https://www.bbc.co.uk/news/business-53348519

[1andrew1]

Originally Posted by Chris

So John Lewis will not reopen eight of its stores ... including the one in Watford. That's quite a surprise to me, though nationally I suspect their decision to shut down Birmingham permanently is the bigger shock. If John Lewis can't turn a profit in the UK's second city, what next?

https://www.bbc.co.uk/news/business-53348519

I think the issue with Birmingham may be the competition from Selfridges there. In some cities like Liverpool, John Lewis is the last department store remaining so can turn a profit.

[Sephiroth]

Originally Posted by 1andrew1

I think the issue with Birmingham may be the competition from Selfridges there. In some cities like Liverpool, John Lewis is the last department store remaining so can turn a profit.

... I also wonder if their Watford decision has anything to do with Intu's woes.

[1andrew1]

Originally Posted by Sephiroth

... I also wonder if their Watford decision has anything to do with Intu's woes.

I suspect it's the other way round - Intu is more a symptom of John Lewis's (and other retailer') woes.
Competition from the internet, higher minimum wage, weaker £ to $ and increased business rates (in some regions) all conspired to make the John Lewis stores that closed unprofitable, even before the onset of Covid 19.

[Hom3r]

I can see facemasks becoming more common in the coming months and years.


Much in the same way as some Asian countries, where it is common practice.

[nomadking]

Originally Posted by Hom3r

I can see facemasks becoming more common in the coming months and years.

Much in the same way as some Asian countries, where it is common practice.

The UK population don't have enough of a sense of responsibility. Wonder how the new shop/indoor facemask rules in Scotland and Belgium are going?

[OLD BOY]

Originally Posted by jfman

It's not an attitude problem - it's reality.

I'm glad I don't live in your 'reality', jfman.

So you are saying that if I own a building that I am renting out as a shop, some geezer can just take it off me because you say I am not contributing anything as 'it's just a property'.

That's not how it works in my reality, and I'm absolutely certain that I live in the real world. You come out with the craziest things.

[Sephiroth]

Originally Posted by OLD BOY

I'm glad I don't live in your 'reality', jfman.

So you are saying that if I own a building that I am renting out as a shop, some geezer can just take it off me because you say I am not contributing anything as 'it's just a property'.

That's not how it works in my reality, and I'm absolutely certain that I live in the real world. You come out with the craziest things.

I live in the same 'real world' - Wokingham! Have you seen what those council idiots have done to the high street? They have widened the notional pavement so that the four pedestrians per fortnight that you might fimd walking there can inhale the exhaust fumes of the cars now queuing to get through the funnel!