Councillors have granted a planning application for a new 65,000 square feet superstore in Ilkeston.
This is a complete tragedy for Bath St. It is very hard for small retailers to compete and life will now be much harder. Whilst a few jobs and some cheaper groceries may benefit many of the population, towns need a decent high street/ business to survive and grow.
Nigel Green's assertions are very misleading as no school has a student staff ratio of 4:1. I would guess that most of the teachers are part time and come from Derby College themselves. In fact, there are Free Schools initiatives, that the Government would have funded without the need for a supermarket.
I have been letting shops in Ilkeston for the last six years and would like to see the Business Rates, generated by the new store, used to reduce the rating liability for the shops in Ilkeston. This £1.25m annual windfall that Erewash have given themselves could be beneficial. The biggest barrier to new stores opening up on Bath Street is the Rates payable, which are now higher than the rents the landlords charge.
We all want to see Ilkeston be vibrant again. Please reduce the rates to help the high street survive.
Thursday, October 18, 2012
Tuesday, September 25, 2012
Wednesday, August 29, 2012
Do we have a Fabian Economy?
Now I am not sure that you can describe an Economy as Fabian, but if you could, then I am pretty sure that we have one.
Quintus Fabius Maximus was a Roman General who has entered the history books famous for defeating Hannibal by doing very little and being very defensive. It was not that simple, but that is the gist and his nickname, as a result, was cunctator from which the word cunctation derives (delaying or tardy action).
The Fabian Society is also named after him and they propose change through gradual rather than revolutionary achievement of socialism.
Bringing me back to our economy, I called it Fabian, because everything now happens at a snail's pace in the commercial property world, and to some degree in the residential sphere too. Very few are in a hurry to complete deals, view, exchange contracts or make decisions. Whether it is because we are cautious or perhaps due to our mojo going, the few transactions that are about seem to take an age.
Many people take their lead from those at the top, which in our case are politicians. At the moment, we have massive government expenditure, huge borrowing, support for Europe, interference in every level of the economy, increasing powers for the local authorities, policies being driven by the tabloid press, a burgeoning health sector, gigantic capital projects being approved and a redistribution of wealth with higher pensions, and higher taxes.
Whether you agree with the Fabian Economy, or not, in reality we have a Fabian government that is very socialist in practice. Perhaps it is either that the Lib Dems are much more powerful that we give them credit for, or the Fabian Society and the Bullingdon Club are one and the same.
Whilst Quintus Fabius Maximus was ultimately successful in the Second Punic War, I do feel that we are missing a trick and this is not the right road to travel, excuse the cliche.
Quintus Fabius Maximus was a Roman General who has entered the history books famous for defeating Hannibal by doing very little and being very defensive. It was not that simple, but that is the gist and his nickname, as a result, was cunctator from which the word cunctation derives (delaying or tardy action).
The Fabian Society is also named after him and they propose change through gradual rather than revolutionary achievement of socialism.
Bringing me back to our economy, I called it Fabian, because everything now happens at a snail's pace in the commercial property world, and to some degree in the residential sphere too. Very few are in a hurry to complete deals, view, exchange contracts or make decisions. Whether it is because we are cautious or perhaps due to our mojo going, the few transactions that are about seem to take an age.
Many people take their lead from those at the top, which in our case are politicians. At the moment, we have massive government expenditure, huge borrowing, support for Europe, interference in every level of the economy, increasing powers for the local authorities, policies being driven by the tabloid press, a burgeoning health sector, gigantic capital projects being approved and a redistribution of wealth with higher pensions, and higher taxes.
Whether you agree with the Fabian Economy, or not, in reality we have a Fabian government that is very socialist in practice. Perhaps it is either that the Lib Dems are much more powerful that we give them credit for, or the Fabian Society and the Bullingdon Club are one and the same.
Whilst Quintus Fabius Maximus was ultimately successful in the Second Punic War, I do feel that we are missing a trick and this is not the right road to travel, excuse the cliche.
Sunday, August 19, 2012
4G or not 4G that is the question
I really don't know why the mobile phone companies are even contemplating 4G. I know that the government are keen because they need more revenue, but who actually wants it? Maybe a few kids, perhaps.
What I really want is a phone that works anywhere/ everywhere. I have my mobile to make calls and it is very annoying when I can't. Granted, it is useful for email, calendars and the like, but if it does not have a signal, then it is not a lot of use.
I am sure that if a telecoms company announced that their network had 100% coverage, we would all sign up. whether it was 2G, 3G or 50 million G.
People without a job might want to play games and watch videos on their phone all day, but what I want, what I really really want, is a phone that I can use as a phone and be able to call someone when I choose to, rather than when I am at the top of a hill.
What I really want is a phone that works anywhere/ everywhere. I have my mobile to make calls and it is very annoying when I can't. Granted, it is useful for email, calendars and the like, but if it does not have a signal, then it is not a lot of use.
I am sure that if a telecoms company announced that their network had 100% coverage, we would all sign up. whether it was 2G, 3G or 50 million G.
People without a job might want to play games and watch videos on their phone all day, but what I want, what I really really want, is a phone that I can use as a phone and be able to call someone when I choose to, rather than when I am at the top of a hill.
Wednesday, August 1, 2012
What's the cause? Cash or the Banks
Before I begin, let me clarify that we do not deal in cash as a tax avoidance scheme.
However, I have noticed that cash, as a medium of payment, is drying up. I always find being paid in cash a bit of a hinderance as you either need to make a special trip to the bank, or if you put it in the petty cash tin, it seems to evaporate at an alarming rate.
Nonetheless, it has occurred to me that if cash is disappearing from the economy, then that is a bad thing. There are no publicised money supply figures for cash in circulation any longer, we just use M0 or M4, neither of which are reflective of the pound in the pocket/ under the bed. We need money for the economy to circulate and the multiplier to kick in effectively (for every £1 spent, £3.50 was traditionally generated down the line).
Are the real issues in the economy therefore attributed to the lack of cash, or are we still focused on the banks? I suspect that less cash is a symptom rather than a cause.
The great thing about cash is that it is an immediate payment and we could all do with a better cash-flow. Bring back the folding stuff, please.
However, I have noticed that cash, as a medium of payment, is drying up. I always find being paid in cash a bit of a hinderance as you either need to make a special trip to the bank, or if you put it in the petty cash tin, it seems to evaporate at an alarming rate.
Nonetheless, it has occurred to me that if cash is disappearing from the economy, then that is a bad thing. There are no publicised money supply figures for cash in circulation any longer, we just use M0 or M4, neither of which are reflective of the pound in the pocket/ under the bed. We need money for the economy to circulate and the multiplier to kick in effectively (for every £1 spent, £3.50 was traditionally generated down the line).
Are the real issues in the economy therefore attributed to the lack of cash, or are we still focused on the banks? I suspect that less cash is a symptom rather than a cause.
The great thing about cash is that it is an immediate payment and we could all do with a better cash-flow. Bring back the folding stuff, please.
Monday, July 30, 2012
Children 2.0
I recall reading a rumour, that no animals died during the Boxing Day Tsunami that hit in 2004. So the urban legend goes, animals sensed the tidal wave coming and ran/ flew for higher ground. Many people think that animals have a sixth sense, that we have lost, and this is evidenced by what apparently occurred during the Tsunami.
It made me wonder if children these days do in fact have such a sixth sense; as a massive generalisation, I get the impression that the younger generation are not as keen on working as I was. There is a large increase in youths having no intention of working, endless requirements for gap years, holidays and a distinct lack of career motivated people.
Perhaps they have a sense of some impending doom and what's the point in working for security if it's all going to end before they need it?
I have no conclusion to make, but perhaps we should consider whether they are right, or is Society's need for productive resources more important that an individual's freedom?
It made me wonder if children these days do in fact have such a sixth sense; as a massive generalisation, I get the impression that the younger generation are not as keen on working as I was. There is a large increase in youths having no intention of working, endless requirements for gap years, holidays and a distinct lack of career motivated people.
Perhaps they have a sense of some impending doom and what's the point in working for security if it's all going to end before they need it?
I have no conclusion to make, but perhaps we should consider whether they are right, or is Society's need for productive resources more important that an individual's freedom?
Monday, July 23, 2012
Euro or the Olympics
What hyped up disaster do we routinely talk about this week? One of the curious omissions in reams and reams of newspapers is whether Germany should stay in the Euro.
If Germany was thrown out of the Euro, then the Euro could be revalued to a level that was more appropriate for Spain, Greece, Ireland and possibly Italy. The new Eastern Block countries would no doubt benefit too.
My own take is that the current crisis is caused by, ignoring the media, a lack of capital flows back from Germany to the southern states. The southern states bought the German goods and services, but never received the money back, in the form of loans etc. Interestingly enough, the Chinese are not making the same mistake, and keep on lending to the Americans so they still buy their goods.
Were Germany to exit the Euro, German goods would become very expensive and the negative flow of capital out of, say Spain, would be reversed. Spain would become very cheap again, and the Germans would flock back with their beach towels.
Globally, this would be a benefit too, as European food prices would fall.
13 years after the start, the Fourth Reich would end, one year longer than the third.
If Germany was thrown out of the Euro, then the Euro could be revalued to a level that was more appropriate for Spain, Greece, Ireland and possibly Italy. The new Eastern Block countries would no doubt benefit too.
My own take is that the current crisis is caused by, ignoring the media, a lack of capital flows back from Germany to the southern states. The southern states bought the German goods and services, but never received the money back, in the form of loans etc. Interestingly enough, the Chinese are not making the same mistake, and keep on lending to the Americans so they still buy their goods.
Were Germany to exit the Euro, German goods would become very expensive and the negative flow of capital out of, say Spain, would be reversed. Spain would become very cheap again, and the Germans would flock back with their beach towels.
Globally, this would be a benefit too, as European food prices would fall.
13 years after the start, the Fourth Reich would end, one year longer than the third.
Sunday, July 1, 2012
Banking and Royalty
Before I begin... I must stress that I am neither a republican, nor a monarchist.
The professions of banking and royalty have much in common (I know that you will not probably view being a royal as a profession, but if you do something for money then it is a paid occupation).
On the one hand, both are viewed as being out of touch, aloof, arrogant and take off you what you can't really afford. On the other, they provide a valuable service to the economy and generally create more benefit that the cost thereof.
However, what really drives their commonality is when things go wrong: When they act as playboys and think that they are above the law, then they create massive resentment. At the moment bankers are held in the lowest regard for reasons that we are all aware of and they have forgotten that it is the taxpayer/ common man that ultimately funds them.
Go back a few years and we remember Prince Charles lording it over us, in much the way bankers have now. It appears that the Queen has a long memory in this regard and it could be why she does not appear to want to hand the crown over.
Bankers thus need to get their house in order, because people have long memories. It used to be a noble profession that is now tainted; heed the lessons that royalty have learnt in the 20th and 21st centuries.
The professions of banking and royalty have much in common (I know that you will not probably view being a royal as a profession, but if you do something for money then it is a paid occupation).
On the one hand, both are viewed as being out of touch, aloof, arrogant and take off you what you can't really afford. On the other, they provide a valuable service to the economy and generally create more benefit that the cost thereof.
However, what really drives their commonality is when things go wrong: When they act as playboys and think that they are above the law, then they create massive resentment. At the moment bankers are held in the lowest regard for reasons that we are all aware of and they have forgotten that it is the taxpayer/ common man that ultimately funds them.
Go back a few years and we remember Prince Charles lording it over us, in much the way bankers have now. It appears that the Queen has a long memory in this regard and it could be why she does not appear to want to hand the crown over.
Bankers thus need to get their house in order, because people have long memories. It used to be a noble profession that is now tainted; heed the lessons that royalty have learnt in the 20th and 21st centuries.
Wednesday, June 13, 2012
Euro: Chain Reaction
Here are the lyrics to Diana Ross's Chain Reaction;
You gotta plan your future
Is on the run
Shine a light for
The whole world over
Okay, so it is taken completely out of context, but we really do need to plan for the future (and the whole world over).
The majority of the governments in the, so called, western world are having to borrow extreme sums of money to finance their deficits. In addition, some are bankrupting their countries to bail out banking sectors. I have not seen anyone even try and explain what would be the downside of letting these banks go pop. Savers are guaranteed to £85k, in the UK, and any investors or bond holders would necessarily expect to lose money on some of their investments (interest being the reward for risk). Granted, there would be some paralysis of the economy whilst the initial problems were sorted, but government backing of savings would soon kick in and any run should be prevented.
Every person living in Spain, now owes another 15,000 Euro because of the Spanish bank bailout. There has go to be a better way. Iceland got to live again and wipe the slate, more or less, clean.
In the UK, we are concerned about the level of government debt and amounts being lent to the banks, Ireland, Greece and possibly Spain. However, these amounts are significantly less than the hidden pension liabilities for civil servants and local government employees. 25% of local taxes pay local authority pensions already!
Something somewhere will snap. We are just waiting for the straw.
You gotta plan your future
Is on the run
Shine a light for
The whole world over
Okay, so it is taken completely out of context, but we really do need to plan for the future (and the whole world over).
The majority of the governments in the, so called, western world are having to borrow extreme sums of money to finance their deficits. In addition, some are bankrupting their countries to bail out banking sectors. I have not seen anyone even try and explain what would be the downside of letting these banks go pop. Savers are guaranteed to £85k, in the UK, and any investors or bond holders would necessarily expect to lose money on some of their investments (interest being the reward for risk). Granted, there would be some paralysis of the economy whilst the initial problems were sorted, but government backing of savings would soon kick in and any run should be prevented.
Every person living in Spain, now owes another 15,000 Euro because of the Spanish bank bailout. There has go to be a better way. Iceland got to live again and wipe the slate, more or less, clean.
In the UK, we are concerned about the level of government debt and amounts being lent to the banks, Ireland, Greece and possibly Spain. However, these amounts are significantly less than the hidden pension liabilities for civil servants and local government employees. 25% of local taxes pay local authority pensions already!
Something somewhere will snap. We are just waiting for the straw.
Tuesday, June 12, 2012
RICS CPD
Went on an excellent course on Property Management in Nottingham on Monday. RICS do some high quality courses. Sat next to Charlie Hollis from Eaton and Hollis, a mine of information. Agricultural land is doing very well and banks have an appetite for it.
Commercial Property for Sale in Ashbourne
We have a couple of new instructions in Ashbourne. Great investments, fully let offices at St. Monica's House, Windmill Lane, Ashbourne, Derbyshire. Please see our website for details. www.chartex.co.uk.
Our boards are free and we don't charge a penny unless we are successful.
Our boards are free and we don't charge a penny unless we are successful.
Commercial property Ilkeston retail. Chartex
If you want a good quality shop in Ilkeston at a decent rate, then please let me know. Hugh@chartex.co.uk
Que Sera Sera Economics
I really think that most people connected with Commercial Property, and resi as well, have lost their mojo. What we are now seeing is Que Sera Sera Economics, whereby people no longer try and determine their future in a proactive way. Instead we are following down a route of 'what will be, will be'.
The problem with this is that it leads to stagnation and the type of activity seen in Japan.
In a perverse way, we actually need the weak (markets, banks, firms etc) all to fail, people to lose their houses and have some proper economic strife. Once this happens, prices will fall and entrepreneurs will go back into the markets and balance will be restored as supply meets demand.
Let's do away with QE (only creating a commodity boom and helping banks make secret profits) and raise interest rates, so we all feel the pain. There will be a crash in prices, which will then bottom out when demand picks up.
Savings are guaranteed to £85,000. We have a welfare state. Only the gamblers and speculators will lose out, and some will win. Having this artificial market does not help anyone. History is on our side; the crashes from the recessions of the early 1980 and mid 1990 helped the economy bounce back well, each time being healthier after than before.
Take your medicine and get better. Please don't lie back and see what happens.
The problem with this is that it leads to stagnation and the type of activity seen in Japan.
In a perverse way, we actually need the weak (markets, banks, firms etc) all to fail, people to lose their houses and have some proper economic strife. Once this happens, prices will fall and entrepreneurs will go back into the markets and balance will be restored as supply meets demand.
Let's do away with QE (only creating a commodity boom and helping banks make secret profits) and raise interest rates, so we all feel the pain. There will be a crash in prices, which will then bottom out when demand picks up.
Savings are guaranteed to £85,000. We have a welfare state. Only the gamblers and speculators will lose out, and some will win. Having this artificial market does not help anyone. History is on our side; the crashes from the recessions of the early 1980 and mid 1990 helped the economy bounce back well, each time being healthier after than before.
Take your medicine and get better. Please don't lie back and see what happens.
Wednesday, May 9, 2012
Expectations. Commercial Property et al
The health of most things is about expectations. Ever wondered why animals don't suffer from the constant stream of ailments that either we, or our pets do? They don't expect to get ill. Ergo they don't.
The economy chugs along in a similar vein. We are happy to spend if we think times are good and cut back if times are bad. My grandfather is an Austrian, and after the horrors of WWI and WWII, they took to sewing gold coins in their trousers just in case. We are not at that stage yet, but just where is the tipping point?
Commercial property really suffers from expectations. If things are going well, we invest in property and tenants come forward wanting to create wealth. When people expect more turgid news and depression, people cut back and don't bother. It can be a perpetual cycle, which is what has been facing the Japanese over the last fifteen years. It can be exacerbated by an ageing population, when the risk takers really increasingly can't be bothered.
What we need is a Valium for the economy and electric shock therapy for the population. IN other words, we need some leadership that is going to help our expectations. What we do not need is insincere politicians blaming each other, local governments blaming central government or vice versa. Where are the professional leaders that motivate and inspire us? Surely they are not all that old that they can't be bothered?
Perhaps the newspapers have too much influence and their constant ridicule is a barrier to the talented and what we are seeing is the old adage that shit floats.
The economy chugs along in a similar vein. We are happy to spend if we think times are good and cut back if times are bad. My grandfather is an Austrian, and after the horrors of WWI and WWII, they took to sewing gold coins in their trousers just in case. We are not at that stage yet, but just where is the tipping point?
Commercial property really suffers from expectations. If things are going well, we invest in property and tenants come forward wanting to create wealth. When people expect more turgid news and depression, people cut back and don't bother. It can be a perpetual cycle, which is what has been facing the Japanese over the last fifteen years. It can be exacerbated by an ageing population, when the risk takers really increasingly can't be bothered.
What we need is a Valium for the economy and electric shock therapy for the population. IN other words, we need some leadership that is going to help our expectations. What we do not need is insincere politicians blaming each other, local governments blaming central government or vice versa. Where are the professional leaders that motivate and inspire us? Surely they are not all that old that they can't be bothered?
Perhaps the newspapers have too much influence and their constant ridicule is a barrier to the talented and what we are seeing is the old adage that shit floats.
Wednesday, January 11, 2012
Cash Flow
The very wording of cash flow does imply that it always comes in, only to flow out again. Sometimes it seems that the ebb is greater than the inflow.
Three years ago, commercial agents usually got paid on completion of either the sale or lease. Nowadays, banks have a claim on the whole sale proceeds and with leases, there are such large rent free periods that there are no funds to pay the poor agent.
Most of the services that we provide, such as Rating Appeals, Valuations or even Dilapidation work provide a steady income flow down the line for the client. However, there is little up front cash generated and so no funds to pay.
These adverse conditions are making it very hard and we, as property agents, seem to spend an increasing amount of time chasing and collecting money.
Now I accept we are not the most popular sector of the economy, but our input is crucial and I am looking forward to the economy picking up so we can concentrate more on generating fees than having to remind clients to pay them.
I think that there are definite signs of matters picking up. We are experiencing a busier January than we have in the last two years and there are signs that people are deciding to 'have a go'. If the rents are fair and the leases reflective of market conditions, we seem to be able to get the deals together.
Sales, on the other hand, are still dire. If you want to give it away, it will sell. Otherwise don't bother...
...unless, of course, you have something equally cheap to buy. Then you are no worse off.
Three years ago, commercial agents usually got paid on completion of either the sale or lease. Nowadays, banks have a claim on the whole sale proceeds and with leases, there are such large rent free periods that there are no funds to pay the poor agent.
Most of the services that we provide, such as Rating Appeals, Valuations or even Dilapidation work provide a steady income flow down the line for the client. However, there is little up front cash generated and so no funds to pay.
These adverse conditions are making it very hard and we, as property agents, seem to spend an increasing amount of time chasing and collecting money.
Now I accept we are not the most popular sector of the economy, but our input is crucial and I am looking forward to the economy picking up so we can concentrate more on generating fees than having to remind clients to pay them.
I think that there are definite signs of matters picking up. We are experiencing a busier January than we have in the last two years and there are signs that people are deciding to 'have a go'. If the rents are fair and the leases reflective of market conditions, we seem to be able to get the deals together.
Sales, on the other hand, are still dire. If you want to give it away, it will sell. Otherwise don't bother...
...unless, of course, you have something equally cheap to buy. Then you are no worse off.
Wednesday, January 4, 2012
Very Busy New Year: Follow the Rainbow
The year has started with all guns blazing, mostly to do with solicitors trying to earn some cash after three weeks off!
As agents, we are often to be found chasing up deals and providing information to the higher power that we have already let them have; we operate in that quasi world where we are often expected to work for free. In other words, our job is to find a tenant/ buyer. However we often are a port of call for epcs, various reports and other random information, such as plans and enquiries. None of this is chargeable but we do it because we want to get paid for finding the tenant/ buyer and it smoothes the process and thus speeds it up.
I cannot imagine solicitors not racking up their unit calculators for doing the same.
Whilst we are busy, it does seem to be of the holding hand variety and trying to get deals finalised and through legals. In essence we are chasing the pot of gold at the end of the rainbow, often very elusive.
As agents, we are often to be found chasing up deals and providing information to the higher power that we have already let them have; we operate in that quasi world where we are often expected to work for free. In other words, our job is to find a tenant/ buyer. However we often are a port of call for epcs, various reports and other random information, such as plans and enquiries. None of this is chargeable but we do it because we want to get paid for finding the tenant/ buyer and it smoothes the process and thus speeds it up.
I cannot imagine solicitors not racking up their unit calculators for doing the same.
Whilst we are busy, it does seem to be of the holding hand variety and trying to get deals finalised and through legals. In essence we are chasing the pot of gold at the end of the rainbow, often very elusive.
Sunday, January 1, 2012
Happy New Year
Following a relatively successful 2011, we are running low on properties to let. If want to find a tenant for your property, then let us know. We would love to help. Shops, offices, industrial units, lock ups or anything that can be rented, please see how we can help.
The average vacancy rates for shops that we were solely instructed on, for 2011, was less than three months.
We try and be proactive and do not spend fortunes on needless advertising.
hugh@chartex.co.uk
The average vacancy rates for shops that we were solely instructed on, for 2011, was less than three months.
We try and be proactive and do not spend fortunes on needless advertising.
hugh@chartex.co.uk
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