Stores Closing in Sligo **mod warning post #720**

EmptyTree

Not sure if this has been mentioned yet but the mace / maxol on temple st is closed.

Edit: I mean mail coach road

worlds goodest teecher

I see Korona restaurant on Castle St is closed till the end of August for more essential maintenance.

sligojoek

EmptyTree wrote: »

Not sure if this has been mentioned yet but the mace / exol on temple st is closed.

That was part of the McCormack group.

Buford T Justice

Geuze wrote: »

The new lease for the new proprietor, 2016, is 450 euro per week.

This is hardly the place to be discussing someones financial arrangements.

Geuze

Buford T Justice wrote: »

This is hardly the place to be discussing someones financial arrangements.

This thread is about retail outlets closing.

High rents in Ireland are a contributing factor to these closures.

In discussing these closures, surely it makes sense to discuss the proximate causes, one of which is too high rents.

Geuze

Buford T Justice wrote: »

This is hardly the place to be discussing someones financial arrangements.

I would describe it as a business overhead, not a personal financial arrangement.

Buford T Justice

Geuze wrote: »

This thread is about retail outlets closing.

High rents in Ireland are a contributing factor to these closures.

In discussing these closures, surely it makes sense to discuss the proximate causes, one of which is too high rents.

In general yes, specific arrangements no.

Geuze

Buford T Justice wrote: »

In general yes, specific arrangements no.

All leases are public now, so it's public knowledge.

EmptyTree

sligojoek wrote: »

That was part of the McCormack group.

The one opposite Cahney's?? Ah right, didn't realise that.

Andy From Sligo

i might help all this naming and shaming - if the rents are reasonable and in the required limits for the town/property thats in it then the landlords have nothing to fear eh?

sligojoek

EmptyTree wrote: »

The one opposite Cahney's?? Ah right, didn't realise that.

That's right. I'll miss it. I used to go there 2 or 3 times a week.

sligoblue

Andy From Sligo wrote: »

i might help all this naming and shaming - if the rents are reasonable and in the required limits for the town/property thats in it then the landlords have nothing to fear eh?

Reasonable in whose opinion? What's a "required limit"?

I might look at a place that costs €500 a week and think it is overpriced, you might look at it and see its potential to make money, only time would tell but the lease agreement and how much you pay is between you and the property owner alone. It's no one else's business.

Andy From Sligo

sligoblue wrote: »

Reasonable in whose opinion? What's a "required limit"?

I might look at a place that costs €500 a week and think it is overpriced, you might look at it and see its potential to make money, only time would tell but the lease agreement and how much you pay is between you and the property owner alone. It's no one else's business.

if there is an issue over overpricing/huge rents and rates for shop premises i think it should be in the interest of the public of sligo personally - might give people/general public of why so many buildings are vacant in the town, or give an idea why some places charge a lot for their items/service to pay for high rents etc

red sean

sligoblue wrote: »

Reasonable in whose opinion? What's a "required limit"?

I might look at a place that costs €500 a week and think it is overpriced, you might look at it and see its potential to make money, only time would tell but the lease agreement and how much you pay is between you and the property owner alone. It's no one else's business.

Very valid point.
Too many businesses seem to go into rental agreements with either overestimated figures for their potential sales or having done no homework at all. Then after a few months reality kicks in when suppliers don't get paid, or revenue don't get paid, etc. because the rent is due.
After that it's the slippery slope and someone must be found to blame.
Online shopping is also a constant problem, and will be, for retail shops. This also leads to a lot of shop closures.
But we all love a bargain!

sligoblue

Andy From Sligo wrote: »

if there is an issue over overpricing/huge rents and rates for shop premises i think it should be in the interest of the public of sligo personally - might give people/general public of why so many buildings are vacant in the town, or give an idea why some places charge a lot for their items/service to pay for high rents etc

Why would how much you or I pay for a lease be of interest to the public? Is what you pay for your mortgage or home rental your neighbours business?

If a service provider charges more for an item then you want to pay, don't pay it. Online shopping is having a huge effect on high retail, I suspect many shops have closed irrespective of rental costs, you can buy your new runners or a tv without leaving your home.

Andy From Sligo

sligoblue wrote: »

...I suspect many shops have closed irrespective of rental costs, you can buy your new runners or a tv without leaving your home.

i dont necessarily, I say some shops have closed because of high rents and rates ... or premises dont even get opened up because of too high rent / rates -

you imagine trying to run a shop in town these days, not only have you got to pay staff, then high insurance, along with your stock and electricity bills and other bills ... then have to fork out a massive amount for rent and rates, I honestly dont know how some of the shops survive to be honest especially as some people from sligo are still choosing to shop in other towns other than sligo - I still hear of a lot of people from Sligo shopping in places like Ballina and castlebar and some other towns simply because they cannot get what they want in Sligo Town , or get a better selection of shops or bigger/better shops and supermarkets with better places to park near the shops and cheaper parking and better retail parks

sligoblue

Andy From Sligo wrote: »

i dont necessarily, I say some shops have closed because of high rents and rates ... or premises dont even get opened up because of too high rent / rates -

you imagine trying to run a shop in town these days, not only have you got to pay staff, then high insurance, along with your stock and electricity bills and other bills ... then have to fork out a massive amount for rent and rates, I honestly dont know how some of the shops survive to be honest especially as some people from sligo are still choosing to shop in other towns other than sligo - I still hear of a lot of people from Sligo shopping in places like Ballina and castlebar and some other towns simply because they cannot get what they want in Sligo Town , or get a better selection of shops or bigger/better shops and supermarkets with better places to park near the shops and cheaper parking and better retail parks

Most retail shops require high footfall and to have that you have to be located near the Main Street of a good sized town. And guess what, rents tend to be higher in town centres, not just in Sligo, everywhere. Have you ever heard of a retail shop relocating from Sligo town centre to Ballymote or Gurteen because the rent was cheaper?

I'm sure there are shoppers who travel to Ballina and Castlebar, but I've also noticed the odd Mayo registration in town. People often travel for verity and to see if they can get a bargain. Sometimes it is nice to shop somewhere else. Unless of course you are saying that there are no vacant shops in Ballina and Castlebar? Are you saying that?

Andy From Sligo

sligoblue wrote: »

Most retail shops require high footfall and to have that you have to be located near the Main Street of a good sized town. And guess what, rents tend to be higher in town centres, not just in Sligo, everywhere. Have you ever heard of a retail shop relocating from Sligo town centre to Ballymote or Gurteen because the rent was cheaper?

I'm sure there are shoppers who travel to Ballina and Castlebar, but I've also noticed the odd Mayo registration in town. People often travel for verity and to see if they can get a bargain. Sometimes it is nice to shop somewhere else. Unless of course you are saying that there are no vacant shops in Ballina and Castlebar? Are you saying that?

nope - i am saying though that rents and rates of places like sligo should reflect the location , the location being that at the end of the day its Sligo, nothing special, a little town with terrible infrastructure, roads, parking and parking fees and not even pedestrianised , but when i hear of what rents and rates i hear are being charged for shops in sligo town i am amazed and try to think why anyone would think these are reasonable rents and rates for businesses to be charged in such a town

Buford T Justice

Geuze wrote: »

All leases are public now, so it's public knowledge.

For a private sole trader?

Geuze

sligoblue wrote: »

Online shopping is having a huge effect on high retail, I suspect many shops have closed irrespective of rental costs, you can buy your new runners or a tv without leaving your home.

In light of the competition from online, rents should fall.

Geuze

Buford T Justice wrote: »

For a private sole trader?

Yes, here is the link.

https://www.propertypriceregister.ie/website/npsra/pprweb-com.nsf/page/ppr-home-en

Have a search yourself.

Thanks to the IMF we have much more transparency in Ireland on asset prices, leases, etc.

sligoblue

Geuze wrote: »

In light of the competition from online, rents should fall.

Why exactly should rents fall?

People buy online for a number of reasons, but three of the most important are, convenience, the change of mind time period which does not exist for shop purchases and the galactic verity of goods which can be viewed and bought online, in your opinion, are any of these going to stop someone buying online if rents were lower and the goods in Sligo shops a little cheaper?

Just walk around Sligo and ask yourself? What new business is going to do really well here if they had a slightly cheaper rent, Do we need another cafe, a pub, a shoe shop, a clothes shop? And if someone did take one of those vacant shops, would it stop people buying online.

You guys seem to think this is a Sligo problem, it isn't, it is in every small, medium and large town in Ireland and probably every country in the world. I saw a programme on BBC recently about the demise of high street shops in the UK, the primary cause? The Internet.

Andy From Sligo

sligoblue wrote: »

Why exactly should rents fall?

People buy online for a number of reasons, but three of the most important are, convenience, the change of mind time period which does not exist for shop purchases and the galactic verity of goods which can be viewed and bought online, in your opinion, are any of these going to stop someone buying online if rents were lower and the goods in Sligo shops a little cheaper?

Just walk around Sligo and ask yourself? What new business is going to do really well here if they had a slightly cheaper rent, Do we need another cafe, a pub, a shoe shop, a clothes shop? And if someone did take one of those vacant shops, would it stop people buying online.

You guys seem to think this is a Sligo problem, it isn't, it is in every small, medium and large town in Ireland and probably every country in the world. I saw a programme on BBC recently about the demise of high street shops in the UK, the primary cause? The Internet.

Theres still some things I like best a proper 'bricks and mortar' shop - picking up the Item(s) hold them physically in your hands, if box open looking at instructions, if its clothes or footware trying them on in the shop - not having to wait days or weeks for something you ordered online, not having to pack up and post items back if they are wrong ones or damaged getting delivered or having to sort out long distance if they go faulty in the guarantee period. and actually having the item there and then (if the shop you go to has it in stock) and not waiting for it to come in post or having to wait in whilst courrier delivers your item

FoxyVixen

Back on track...

Cadeux has closed opposite Nice Price. Massive closing down sale, they were getting rid of display units and all.

EmptyTree

Was in Tesco this evening picking up a few bits before heading back after being up for the weekend and noticed Elverys was gone, is it completely gone or has it moved?

Also noticed it seems to be replaced by a store called "the athletes foot".... Seriously?? Someone decided call their store this in the full knowledge it'd be called athletes foot??? :eek:

ectoraige

It's a franchise that Elverys have bought in to, they are rebranding the sports-shoe part of their store.

Speedwell

EmptyTree wrote: »

Also noticed it seems to be replaced by a store called "the athletes foot".... Seriously?? Someone decided call their store this in the full knowledge it'd be called athletes foot??? :eek:

That company has been around in America since the 70s and was in every possible mall in every possible city and town; it was trendy to buy your shoes there when I was a teenager in the 80s... people would literally leave the tag on their shoes for as long as possible. They specialise in athletic footwear but are not, over the pond, considered the best place to go for a proper fitting and troubleshooting of problems; when I needed a pair for walking that took into account my health needs, everyone told me to go somewhere else. I hope they choose to keep on the experienced staff here at least.

Coffee Fulled Runner

If you need a proper fitting I'd avoid that place.

daingeanrob

is conways newsagent in tesco arcade closing, passed by today and only half the store was open and alot of empty shelves. would've thought it was a busy spot, may be just a re-fit.

thebuzz

ectoraige wrote: »

It's a franchise that Elverys have bought in to, they are rebranding the sports-shoe part of their store.

So are Elvery's still there yeah? I have a voucher for them so I hope so?