New venue required to . . .
Posted: Thu Jun 07, 2018 10:30 am
The number one Darlington FC fan's website
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https://www.darlofc.co.uk:443/forum/viewtopic.php?f=2&t=35671
B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote:B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote:B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote:B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
As it's an asset ?HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote:B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
Prime locationaveda wrote:As it's an asset ?HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote: B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years ago
Council made a fast buck buy selling a lot of the town centre retail about 10 years ago to property companies based in London. They charged and still charge London rates and with the financial spiral since 2008 businesses large and small just can't afford or justify paying extortionate rates. It's another example of the council's complete ineptness!HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..lifetime darlo fan wrote:B & M are opening a new store creating 35 jobs in the old BHS store. Savers are moving into the old Argos building. Not all retail is dead and buried. I love our town centre and with the 2 hour free parking initiative (long overdue) hopefully footfall might increase. The council should have reduced the parking costs years agoH1987 wrote:Bars and restaurants? The range of which seems to get better each time i return anyway. The problem with places like this closing is that they can't easily be repurposed for other businesses, so they tend to sit empty.
See BHS. It's such a big unit, no small business would want it. Bit big for a club shop, even with beneficial rates
Which properties do you think they sold ten years ago ?real_darlo_85 wrote: Council made a fast buck buy selling a lot of the town centre retail about 10 years ago to property companies based in London. They charged and still charge London rates and with the financial spiral since 2008 businesses large and small just can't afford or justify paying extortionate rates. It's another example of the council's complete ineptness!
It had to be one you started PeteDarlo_Pete wrote:This thread should be off topic, where a similar thread has already been started.
As it's an asset ?[/quote]HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:[quote="aveda
Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..
Prime location[/quote]aveda wrote:As it's an asset ?HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:[quote="aveda
Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..
99.99% sure they don't own it and probably never have.[/quote]HarrytheQuaker wrote:Prime locationaveda wrote:As it's an asset ?HarrytheQuaker wrote:I bet they own Binns as its an Asset...aveda wrote:The Council only owns a handful of properties in the town centre. The high rents aren't down to them.HarrytheQuaker wrote:[quote="aveda
Totally agree with this if the council lowered the rent prices that surely would help smaller retailers and the big ones too..
Darlo Dodger wrote:This article sort of implies that Binns / House of Fraser Bought the darlington High Row properties themselves in the early part of last century.
http://www.thenorthernecho.co.uk/news/1 ... _together/
They did however do some sort of sale and lease back deal on a number of their properties in the early part of this century but I do not know if the Darlington Binns was part of that deal.
...
It would seem that House of Fraser made the same mistake as Woolworths did. Woolies owned most of their estate originally but saw an opportunity to increase profits by selling off and leasing back. No doubt their board had handsome bonuses for a few years, but further down the line Woolies had no resilience when they hit a prolonged downturn having to deal with the fixed cost of the rent.Darlo Dodger wrote:This article sort of implies that Binns / House of Fraser Bought the darlington High Row properties themselves in the early part of last century.
http://www.thenorthernecho.co.uk/news/1 ... _together/
They did however do some sort of sale and lease back deal on a number of their properties in the early part of this century but I do not know if the Darlington Binns was part of that deal.
As a slight aside David Black must have had some night out on the evening of the fire.
https://www.independent.co.uk/news/busi ... 19066.html
Property deals with short term cash / profitability benefits have been the downfall of many businesses. The sale and lease back produces immediate cash. It can be justified if the business needs substantial cash investment but it can also be disastrous for the long term future of the business. Another deal to be wary of is the seemingly straightforward long term lease on prestigious new premises. I know of one very long established business (they were in the property field themselves) which took out a 25 year lease on just such premises. The first 2-3 years were either rent free or at a very modest rent.Maurice_Peddelty wrote:It would seem that House of Fraser made the same mistake as Woolworths did. Woolies owned most of their estate originally but saw an opportunity to increase profits by selling off and leasing back. No doubt their board had handsome bonuses for a few years, but further down the line Woolies had no resilience when they hit a prolonged downturn having to deal with the fixed cost of the rent.Darlo Dodger wrote:This article sort of implies that Binns / House of Fraser Bought the darlington High Row properties themselves in the early part of last century.
http://www.thenorthernecho.co.uk/news/1 ... _together/
They did however do some sort of sale and lease back deal on a number of their properties in the early part of this century but I do not know if the Darlington Binns was part of that deal.
As a slight aside David Black must have had some night out on the evening of the fire.
https://www.independent.co.uk/news/busi ... 19066.html
One useless building in Feethams could be bulldozed.jjljks wrote:Solution is to build the new Sports Hub in the town centre. Knock down the unwanted stores and put in a bus station together with a 10k stadium and parking.
I have! A pair of 501'sMaurice_Peddelty wrote:Sign of changing times as it is not just Darlington. Would be interesting to know how many lamenting the closure have purchased in store in the past year.