What else does Forest Hill need? [2016]

Yes Andy :frowning:

Out-flipping-rageous!!!

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Totally!!!

@anon64893700 this one is not a corner shop but “Home Accessories” is, so you might want to contact them if you want a “Nando’s”.

Personally I wouldn’t use it but others might do!

Richard @NewForester what’s your thoughts on this, I remember we had a chat a while back when we dug out the land registry for The Capitol when it was said it was going to be a cinema which never emerged 2/3 years ago.

If I remember rightly we also spoke about premiums & what/who could justify these & if I’m right in thinking I don’t think any of what I mentioned previously could merit this, except maybe The Capitol depending


Accounts would have to be shown (over a long period) to merit asking for a premium and a certain profit return which wouldn’t justify the rest I mentioned I don’t think.

Hope I’m wrong though & all get snapped up!

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Very sad to say that Monday 19th December is the last day The Montage will be trading :disappointed_relieved:

I just don’t this premium thing. What is it based on - surely it makes no odds how profitable the Home accessories shop is if you are going to open a Nandos (Heaven forbid - can’t stand the places) or a Waitrose


I can’t see the point of driving out small businesses on the off chance of getting someone else who will pay more. The Montage makes great use of a difficult space. What big name trader is going to take that on? However, I have often wondered if the limited food offer in the Montage was ever going to be enough to cover the costs of what is quite a big space.

My big worry is with quite a few owners seemingly asking big premiums are we going to see a lot of empty shops again.

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A fairly concise explanation of lease premiums:

Outside of the realms of tax, the lease premium is a device for changing the profile of the cashflow from a lease. If an investment company needs to invest in a new property, or refurbishing an existing property, it may decide to charge a lease premium in order to get an up front lump sum return on its investment. This would often be reflected in a lower passing rent under the lease than an open market rent for the property.

If an existing lease is assigned to a new tenant, then a premium may be charged by the old tenant to the new tenant. This would reflect some special value that the lease or property had, e.g. a low rent, or specialised fittings.

There can also be a reverse premium, where the tenant receives a lump sum. This might be an inducement to pay a higher rent, or to fund works in the property.

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Just to be clear - It’s the existing tenants that are asking for premiums and not the landlords.

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So the New From The Forest (cant remember the new name) are asking for a lot of money having been open for a few days?

Exactly, it’s bonkers!

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Ah! That makes much more sense!
Well it doesn’t in the context of From the Forest but the idea makes sense now - ta!

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Is this the retail equivalent of flipping a property? Take it on, superficially gussie it up and hike the price for the next taker?

I blame Brexit. :smiling_imp:

My suggestion was not based on a specific building, but in general to the thread.

What;s wrong with Nandos out of interest? I’m all for independent places, but also like a few chains too, this for me happens to be one of them.
That’s you and @Pauline not using it when it opens then lol

My thoughts exactly mate, and drives my hope that a few big names will come in to help attract people to parts they don’t already explore.

Just not my thing although I realise they are quite popular - I don’t really have any objection to them as long as I don’t have to eat there. I like chicken to have some structure to it - it was all mushy and yet rubbery at the same time and accompanied by some tasteless slop masquerading as sauce Mind you I only went once but it felt like the staff had been recruited from wrong end of the bell curve as they couldn’t cope with anything slightly off piste.
I admit I am a bit fussy about food - but maybe I should give them another go.

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Oi! Dont you start :grin:

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I quite like Nandos. One of the better quality large chains IMO.

But I think any large chain setting up in Forest Hill is going to have a footfall issue. Our centre is very small and so not necessarily suited to big chain businesses looking to fill up large spaces. I suspect it’s the same reason Wetherspoon’s wants to offload the Capitol (and why they’re struggling for a buyer). Nando’s (and similar) tend to set up in larger centres - our nearest are Catford, Beckenham, Lewisham, Camberwell all of which have many more commercial units.