Discussion in 'Brixton' started by Frumious B., Feb 27, 2013.
InShops has halved the rent increase - Nour is staying!
Although bearing in mind they'd already had a whacking increase last year, iirc, it's not a total victory.
No shit?! Didn't anticipate that outcome.
Whose rent have they added it on to?
Hopefully this will inspire the other traders to club together to negotiate their terms more forcefully.
I'm surprised too. The media coverage tipped the balance - the Standard and BBC News - the bigwigs at InShops really don't like being the bad guys in the press. It's a victory for socia media too - Twitter and the press make for a productive partnership, especially when there is a just cause.
...and don't forget Reverend Billy! It went international.
Good news, but 11% is still a crippling increase. Inflation is 3.3%. Wages are down and people have less money in their pockets at the moment so retailers are already suffering. 11% a tough increase for any business. The reduction also makes it look like InShops simply chuck a dart at a dartboard to decide what they're gonna charge traders next year. The property owning classes are taking the piss all over the place.
Hang on, lets not forget that InStore have rejuvenated the area, brought thousands of people into a market that was historically quiet, and removed much of Nours competition. The changes made to GA have led to further gentrification of the area, ensuring the potential customer base for Nour to go after is more affluent, and they are now walking directly past his shop on a weekly basis. 11% is above inflation, but I suspect Nour's growth is above inflation also. If it is not, then maybe he could adapt his shop slightly to take advantage of the passing trade, given most of the village is BYO anyone who can get a licence is surely onto a winner.
It's rare to see so much nonsense crammed into four lines of text. Well done. Are you drunk?
Utter utter shit, they have done no such thing.
The rejuvenation happened under InShops' predecessors, LAP, and still had fuck all to do with them. When the sites were listed, as a result of local action by local people, property developers LAP were stuck with something they didn't understand. They did a deal with Spacemakers to get the vacant units let as popups etc. Pioneering local businesses like Cornercopia, Federation and The Agile Rabbit took over some of the vacant units and made it happen. By the time InShops took the lease from LAP, the place was fully let.
InShops have invested pretty much fuck all (a new fire alarm system, and a 20p-a-pee bog in the corner) . And there is absolutely no evidence that they have any clue at all about Brixton and its diversity.
When they replaced LAP in April 2011 we all thought they could hardly be worse. How wrong we were. A completely useless shower of utter cunts.
This, this and thrice this
well down INSHOPS for fucking the plebs off out of Brixton.
In fact this is an unalloyed crock of steaming stinking shite. Do you work as PR for InStore?
thread had started so well
Hard to know whether an 11% rise is a lot without knowing how long it was since the last review.
If it is three years or more then it is not any more than inflation.
A brief marketwiki....
London and Associated Properties (LAP) http://www.lap.co.uk owns the freehold of Market Row and Brixton Village. They managed everything until 1 April 2011, when they sold a 25 year lease to InShops Ltd of Liverpool http://www.inshopsretail.com, which is a subsidiary of Groupe Geraud of Paris http://www.groupegeraud.com/. According to LAP's annual reports for 2010 and 2011 "our agreement with Groupe Geraud includes a base rent of £817,500 plus a 50% profit share...on the net rent above £1,017,500. Current trading there exceeds that level by some margin."
Forget about 'InStore'. It's InShops.
Thanks for that. Two different companies, I take it?
No, InStore doesn't exist. Just a mistake by B-Town.
I didnt know it wasnt them (or the history tbh), but accepted I was wrong.
With out wanting to come across as a troll, 11% might actually not be that bad. I presume there is increased footfall, and if Nours sales have risen 20% he would probably have accepted an 11% rise in advance. I am just speculating of course, but it does feel a lot busier when I shop in there now!
you're not coming across as a troll, you're coming across as a clueless clown who knows fuck all about the situation.
They've rejuvenated a tiny part of the area for their own benefit.
Bag of arse. The markets have never been "historically quiet", unless the local working class don't count as customers.
Bigger bag of arse. Nour's main "competitors" are pretty much the same as ever.
What's your point? It's footfall in the store that counts, not footfall for Granville Arcade per se. Neither Nour's custom or turnover has increased commensurate with this gentrification and increased potential you're drivelling about.
You're not, and have never been, in retail, I take it? Cash and carry operations operate on fairly slim margins compared to retail-only operations. Finding the money (or even a loan facility in these credit-thin times) to go through the licensing process and buy in a sufficiently-varied stock to entice in people who usually buy their wine from a supermarket is pretty difficult even for a business that knows it's going to have a certain sell-through capacity.
Thank you ViolentPanda, you have expressed that beautifully. I was too incandescent with rage...
One signal indication of gentrification is the death or diminution of "local" shops due to the arrival of "aspirational" outlets that replace them, which generally don't serve the "indigenous" local populace nearly as well. B-Town saying that Nour should somehow "raise its' game" to capture the gentrifiers misses the point of places like Nour.
I remember watching Battersea High Street, Northcote Road, Balham High Road and their assorted markets, then Clapham High Street all go "upmarket". The people who lost out were invariably those of us in social housing, who were used to market shopping and bargain-hunting.
Let them eat cake....well you can ViolentPanda, today at least as it's your birthday...hope it's not a vegan cupcake though, you deserve better than that
IIRC one of the petition threads said the last review was less than 18 months ago.
My birthday "cake" for today is a chocolate salami similar to this:
made by Greebo.
...and InShits wanted £10,000 backdated to well beforehand from Nour.
This is the bit I find really hard to understand. Rent increases I get, even if they're undesirable, but backdated ones? It seems like borderline extortion. Do people sign contracts agreeing that landlords can do that?
Separate names with a comma.