- Original Poster
- #1
First of all I`d like to say Thanks for all the advice I was given last time I was here (a few months back), when I had the `mad` idea of opening a `horror dvd shop`. However due to the replies I recieved, I dropped the idea, went away, did a lot of thinking & I`m now back, ready to open a Greetings card shop. However I need a lot of advice....I`ve found a suitable shop (details are below)....
* Town Centre Shop
* 2 Floors
* 696sq ft (64.65sq m)
ACCOMMODATION (all measurements are approximate)
Ground Floor:-
Shop Average 8.4m x 5.8m (Average 27'7" x 19'0" )
First Floor:- Average 8.4m x 5.8m (Average 27'7" x 19'0" ) plus Kitchenette and toilet.
Lease Terms The property is available towards the end of April 2012, on a 3 year lease or multiples of 3 years, which is subject to a service and management charges for the repair, cleaning and maintenance of common areas, insurance, external painting, window cleaning and maintenance of the fire alarm, refuse collection and admistration.
Rental £12,500 per annum plus VAT payable quarterly in advance.
Management Charge Cbased on 7.5% of the rent passing :£234.38 + VAT per quarter
Service Charge The Service Charge for Phase IV as a whole amounts to £10,800 per annum. It represents 13% of Phase IV and accordingly the service charge per quarter amounts to £351 + VAT.
Costs The incoming tenants are responsible for our Legal Cost in the preparation of the Lease Documentation which will be limited to £350 + VAT
Business Rates We are advised by The Local authority that the rateable value is £10,250 with rates payable for 2012/13 of £4,694.50. Small business rate relief may be available.
Now I have the following money to pay for the following (are these figures reasonable)...
Rental - £12,500
Rates - £4695
Stock - £3-4000
Shopfitting (No idea!, I`ve said £4000)
Spare money £5000
Now, First of all, is the shop good value for money, is there something I should be wairy of?. I understand I`d need Insurance - I guess that`s about a £1000 ?, & will need to get a phoneline, streamline,...Anything else?. I`m going to see the shop next tuesday, needless to say I know I`d need to get a sollictor as well. So once again In advance of any help or advice - Thank you!, I`m going to need it!
* Town Centre Shop
* 2 Floors
* 696sq ft (64.65sq m)
ACCOMMODATION (all measurements are approximate)
Ground Floor:-
Shop Average 8.4m x 5.8m (Average 27'7" x 19'0" )
First Floor:- Average 8.4m x 5.8m (Average 27'7" x 19'0" ) plus Kitchenette and toilet.
Lease Terms The property is available towards the end of April 2012, on a 3 year lease or multiples of 3 years, which is subject to a service and management charges for the repair, cleaning and maintenance of common areas, insurance, external painting, window cleaning and maintenance of the fire alarm, refuse collection and admistration.
Rental £12,500 per annum plus VAT payable quarterly in advance.
Management Charge Cbased on 7.5% of the rent passing :£234.38 + VAT per quarter
Service Charge The Service Charge for Phase IV as a whole amounts to £10,800 per annum. It represents 13% of Phase IV and accordingly the service charge per quarter amounts to £351 + VAT.
Costs The incoming tenants are responsible for our Legal Cost in the preparation of the Lease Documentation which will be limited to £350 + VAT
Business Rates We are advised by The Local authority that the rateable value is £10,250 with rates payable for 2012/13 of £4,694.50. Small business rate relief may be available.
Now I have the following money to pay for the following (are these figures reasonable)...
Rental - £12,500
Rates - £4695
Stock - £3-4000
Shopfitting (No idea!, I`ve said £4000)
Spare money £5000
Now, First of all, is the shop good value for money, is there something I should be wairy of?. I understand I`d need Insurance - I guess that`s about a £1000 ?, & will need to get a phoneline, streamline,...Anything else?. I`m going to see the shop next tuesday, needless to say I know I`d need to get a sollictor as well. So once again In advance of any help or advice - Thank you!, I`m going to need it!
