Shop Rent - your opinions please!!!

[Twokids]

Hi all,

I am currently renting floorspace at a local department store - it is not working out and I want to use the money for my own premises.

Store says that there is a lot of demand for space ( thats why they are charging me so much! ) and therefore I assume that they can re let in about fairly quickly.

My contract is for another 6 months - the rent for that period will be £9000.

I have asked to 'buy out' of my contract to get out quickly - the store has asked me how much I was thinking of paying to do this,

What is a realistic price for me to pay?

My gut feeling is £3000 - certainly no more than £4000

Anyone any ideas/ help / suggestions?

Thanks in advance

Jim :wink:

[Alpha]

Does your contract allow you to sub let the space?

If so give them notice and sub let it.

If not and they are correct that there is so much demand give them notice and pay until they have found as suitable replacement and then pay £1-2 k to cover their costs.

Unfortunately what often happens is that you end up paying most of the contract up and then they offer a reduction to the new lessee for the period.

[Twokids]

Thanks Alan

No - they won't let me sub let... in fact their attitude seems to be 'we have got your money now pay up until the end of the term.

They also said that they are marketing it for me to get someone else in - but I don't think they are actually doing this...

The pain is that I can't use the space anymore as my business has changed so it just stands empty...

Jim

[SmallBizSoftware]

I wonder what the culture of the dept store is and what they would think if you continued to rent the space and left them with a 'hole' with no content and nothing that makes the space look attractive to their customers. Perhaps then they would want to negotiate with you to be able to re-let the space asasp :?:

[Twokids]

I wonder what the culture of the dept store is and what they would think if you continued to rent the space and left them with a 'hole' with no content and nothing that makes the space look attractive to their customers. Perhaps then they would want to negotiate with you to be able to re-let the space asasp :?:

True - its worth pointing that out to them and I'll try - thanks