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Supermacs building for sale

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  • 25-05-2016 7:45pm
    #1
    citykat
    Registered Users Posts: 2,704 ✭✭✭


    Yours for 2.7m according to today's Time.


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    #2
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    How long is the Supermacs lease?


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    #3
    kikel
    Users Awaiting Email Confirmation Posts: 2,584 ✭✭✭kikel


    catbear wrote: »
    How long is the Supermacs lease?

    35 year lease began in 1996.


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    #4
    b4bmm
    Registered Users Posts: 335 ✭✭b4bmm


    How much of a deposit is needed when buying a commercial property like this?

    Surely the banks look favourably on the occupier, locked in lease for another 15 years, unlikely to go broke or unable to pay the rent. Is it a busy outlet this Supermacs? I'm not familiar with Kilkenny.


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    #5
    road_high
    Registered Users Posts: 19,414 ✭✭✭✭road_high


    I remember reading the rent was astronomical. Something like 4K per week or something. Supermacs were hesitant enough after that fire to rebuild...


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    #6
    b4bmm
    Registered Users Posts: 335 ✭✭b4bmm


    What fire was that?

    4K a week doesn't sound too outrageous if it's got a booming business on the Main Street in Kilkenny?

    I would guess it's open till all hours on the weekends too where people go to get soak age after a heap of pints?

    I would say the average person going there would spend 10 at a rough guess. So 400 people would give you 4K. Of course not all profit. The place would easily get 1000+ heads through the door on the weekend nighttime traffic and would probably break even on that nighttime custom alone and the rest of the week would be gravy. Like I said I'm not familiar with Kilkenny so maybe my numbers are off, probably too low if anything?


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    #7
    Cabaal
    Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,497 Mod ✭✭✭✭Cabaal


    2009 was when the fire in supermacs happened

    http://www.boards.ie/vbulletin/showthread.php?t=2055782110

    High rent appears to have been a concern for re-opening
    http://www.advertiser.ie/kilkenny/article/20710/high-rent-and-restrictions-may-sound-death-knell-for-supermacs
    The clean up of the building has now begun and although the premises is well insured Mr McDonagh is unsure if the Supermac’s franchise will return to Kilkenny.

    “Supermac’s has generally done well in Kilkenny but in recent years the rent on the building rose from €2.5k a week to €4k and this is simply too much to pay at this stage. Also our last franchise holder had to give it up because of restrictions on trading late at night imposed by the council. This cut his business drastically and so he had to abandon the franchise. We have been running the business ourselves in the last year or so. All this considered we will have to weigh up the costs associated with refitting the building and starting up the business once again and if the figures don’t stack up, we may not be in a position to do it.”

    When asked if another Kilkenny location may be an option Mr McDonagh said, “I think there may be easier options in other towns.”

    When the lease is up they could potentially decide to relocate especially if rent goes up more.
    I couldn't see them pulling out of the city altogether though


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    #8
    b4bmm
    Registered Users Posts: 335 ✭✭b4bmm


    Thanks for the info.
    The lease isn't up for another 15 years.

    Whatever happened to the late night cut back on openings, was that rescinded by the council and a factor in re-opening or is it shut for the late night boozers?

    What else would they say, the rent is too cheap or it's fair. It's business of course they are going to say it's too expensive. 4K doesn't sound too much to me for a company like Supermacs in a prime location. Besides why would the fire change anything, I'm sure it was fully insured so that wouldn't have any bearing as to them shutting their doors.....


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    #9
    road_high
    Registered Users Posts: 19,414 ✭✭✭✭road_high


    b4bmm wrote: »
    What fire was that?

    4K a week doesn't sound too outrageous if it's got a booming business on the Main Street in Kilkenny?

    I would guess it's open till all hours on the weekends too where people go to get soak age after a heap of pints?

    I would say the average person going there would spend 10 at a rough guess. So 400 people would give you 4K. Of course not all profit. The place would easily get 1000+ heads through the door on the weekend nighttime traffic and would probably break even on that nighttime custom alone and the rest of the week would be gravy. Like I said I'm not familiar with Kilkenny so maybe my numbers are off, probably too low if anything?

    4K a week is serious money, by the time you've paid rates, wages, running costs etc etc. I'd say there was a fine line. Assume they're paying the same rent contractually and there was no write down. The average person eating there would only be spending €6/7 on a meal so that's a lot of people to serve just to pay the rent in a week...!


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