Stores opening or re-opening in Sligo

sligojoek

Mint Sauce wrote: »

Thought it already was a Re.Store my self.

I passed it today. There's a Re Store logo on the hoarding outside. I never took any notice before.

loki7777

Reopen tomorrow.

Mint Sauce

sligojoek wrote: »

I passed it today. There's a Re Store logo on the hoarding outside. I never took any notice before.

I seen a Re.Store sign as well, the other day. Only noticed it because it stood out so much, but asumed it was always a Re.Store and this was just a refit.

Vlove

There's some work happening where O'Connor bros cafe use to be in O'Connell street

Radharc na Sleibhte

Fingers crossed for a coffee shop

Digiby

I heard it was going to be (another) Italian Restaurant.

Andy From Sligo

Digiby wrote: »

I heard it was going to be (another) Italian Restaurant.

noooooooooooooooooooo! - no more pretentious cafe's and restaurants for Sligo town centre...... unless its a greasy spoon type cafe with mug of tea for 1.20 and coffee(plain old coffee) for €1.50 and all day breakfast for €5.50 and toasted cheese sandwiches for €2.50

Jayop

Could do with a few nice bars in O'Connell street but you need a few to draw people to that part of town.

dk1979

Vittos opening in Sligo Soon

https://www.facebook.com/vittossligo

Speedwell

My husband heard there was a Mexican restaurant opening in Sligo soon; any info on that?

I'm from Texas and extremely sceptical, lol.

drdidlittle

dk1979 wrote:

Vittos opening in Sligo Soon

Any ideas where it's going?

prodsc

drdidlittle wrote: »

Any ideas where it's going?

No.44 O'Connell St.- where O'Connor Bros was.

Geuze

Andy From Sligo wrote: »

noooooooooooooooooooo! - no more pretentious cafe's and restaurants for Sligo town centre...... unless its a greasy spoon type cafe with mug of tea for 1.20 and coffee(plain old coffee) for €1.50 and all day breakfast for €5.50 and toasted cheese sandwiches for €2.50

The asking rent for O'Connors was 60k, or 5,000 per month.


Selling tea for 1.20 won't make enough to pay the landlord the 1,154 asking rent per week.

johnire

Looking at it that way just proves how much we are ripped off as customers and consumers.

Geuze wrote: »

The asking rent for O'Connors was 60k, or 5,000 per month.


Selling tea for 1.20 won't make enough to pay the landlord the 1,154 asking rent per week.

sligojoek

Don't forget the insurance and legal vultures have to get their pound of flesh. Rates, wages etc. I'd hate to be starting a business like that in any town centre.

Geuze

johnire wrote: »

Looking at it that way just proves how much we are ripped off as customers and consumers.

Yes, not enough attention is focused at the extortionate comm rents which are causing businesses to close in Ireland.

Given the weaknesses in consumer spending, property costs are still way too high.

sligoblue

Geuze wrote: »

Yes, not enough attention is focused at the extortionate comm rents which are causing businesses to close in Ireland.

Given the weaknesses in consumer spending, property costs are still way too high.

The problem with that statement is that property costs are not based on what the costs are were the owner to buy today, they are often based on what was paid for them when bought.

If a commercial property owner is paying €5k a month in mortgage repayments, he/she is obviously going to try and get as close to that figure in rent as they can. To do otherwise would not make business sense.

Radharc na Sleibhte

Agreed but (obviously I can't say this as fact) I would hazard a guess most landlords in Sligo town wouldn't have mortgages on too many of the buildings on the streets. It's the same few people that own half the town and they have done for a very very long time. Long before boom and bust:

sligoblue

Radharc na Sleibhte wrote: »

Agreed but (obviously I can't say this as fact) I would hazard a guess most landlords in Sligo town wouldn't have mortgages on too many of the buildings on the streets. It's the same few people that own half the town and they have done for a very very long time. Long before boom and bust:

They may have remortgaged to use as capital for other investments. Some of the biggest property owners in Sligo are up to their eyes in debt.

Geuze

sligoblue wrote: »

The problem with that statement is that property costs are not based on what the costs are were the owner to buy today, they are often based on what was paid for them when bought.

If a commercial property owner is paying €5k a month in mortgage repayments, he/she is obviously going to try and get as close to that figure in rent as they can. To do otherwise would not make business sense.

Then these so-called business-people have to realise that comm rents are not set by mortgage debts, they are set by the market today.

Rents are way too high in my opinion, contributing to many shop units being idle.

Large chains often go into examinership, to negotiate rents downwards, e.g. Debenhams last week.

5,000 per month for a [small??] unit on OCS is too much.

I've seen OCS nearly empty of people at 9:45am on a Sat morning.

Andy From Sligo

Geuze wrote:

Selling tea for 1.20 won't make enough to pay the landlord the 1,154 asking rent per week.

Then what you do is you make your money on other things you sell to offset the reasonably priced cup of tea

Andy From Sligo

whats this all about when I hear some landlords of shops hike the rents up so high so they want the shop owners to cease trading and that its cheaper for the landlord to have his premises empty - whats that all about and is there any truth in it?

worlds goodest teecher

Digiby wrote: »

I heard it was going to be (another) Italian Restaurant.

I always think of this episode of the Simpsons when I hear that another Italian restaurant is opening in Sligo.

sligono1

The itiaian quarter must be expanded to the Italian half now another week another cafe/restaurant opening not be long till all we can purchase is food in Sligo.food must have very good margins hence why the only thing that can survive in high rents and rates.

Geuze

sligono1 wrote: »

The itiaian quarter must be expanded to the Italian half now another week another cafe/restaurant opening not be long till all we can purchase is food in Sligo.food must have very good margins hence why the only thing that can survive in high rents and rates.

The head chef of a food operation in Sligo town centre tells me that his food cost target is 26% of the retail price.

So if you spend 10.00 in his place, the raw food cost is 2.60.

That's a generous 74% gross margin, although that does include the 9% VAT in the 10.00 price.

Geuze

Andy From Sligo wrote: »

whats this all about when I hear some landlords of shops hike the rents up so high so they want the shop owners to cease trading and that its cheaper for the landlord to have his premises empty - whats that all about and is there any truth in it?

I don't know that the landlord actively wants an empty premises.

But they do want to extract all the surplus earned by the hard work and sweat of the tenant.

sligono1

See work taking place in the old cross sections shop today any one know what s moving in there.hardly...another restaurant

prodsc

sligono1 wrote: »

See work taking place in the old cross sections shop today any one know what s moving in there.hardly...another restaurant

Could be that bag/shoe shop, Gerry Mcguires. Saw a sign in the window saying they are moving around the corner....cheaper than O' Connell st?

sligoblue

Geuze wrote: »

The head chef of a food operation in Sligo town centre tells me that his food cost target is 26% of the retail price.

So if you spend 10.00 in his place, the raw food cost is 2.60.

That's a generous 74% gross margin, although that does include the 9% VAT in the 10.00 price.

Ah, surely you are not saying that the 74% is profit? Think about your Head Chef friends wages, waiting staff, income tax, employers PRSI, rent, rates, insurance,electricity,water etc. If it was as easy as making 74% net every time you sold a pie and chips, restaurants/cafes would never close.

Vlove

Graceful Occasions opened their bridal shop in ballygawley village recently.