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Thread: Dundrum Shopping Centre

  1. #1
    Politics.ie Member hammer's Avatar
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    Default Dundrum Shopping Centre

    Read in the Sunday Times............sorry no thread that now that the Centre is open 5 years the rents are being reviewed. Eventhough we are in a "depression" the NAMA bound landlord is looking for average rent increases of 60% and the larger multiples/shops facing 90% increases as they remove rents based on turnover and switch to market rent.

    The tenants should pull down the shutters in unison & tell him where to go

    How to regain a competitive economy. Screw tenants? Great policy NAMA.

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    How exactly is this NAMA's fault?

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    Apparently they are looking to increase by up to 90% in some cases, I think that a rent strike should be called for. Jobs will be lost in Dundrum shopping centre if rents are allowed to increase, they should actually be cut.

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    It must be wonderful to live in a reality-denial bubble.

    P.
    "Ever tried. Ever failed. No matter. Try again. Fail again. Fail better."

  5. #5
    RepublicanSocialist1798
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    Quote Originally Posted by True Republican View Post
    Apparently they are looking to increase by up to 90% in some cases, I think that a rent strike should be called for. Jobs will be lost in Dundrum shopping centre if rents are allowed to increase, they should actually be cut.
    I'd agree. If retailers there got together and called a rent strike it would work.

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    Politics.ie Member On_The_Far_Right's Avatar
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    Default Rents

    Folks its like this, the first signs of recovery in economy and landlords went nuts to increase rents. Id a small shop in Cavan and the landlord was charging 100 a week for it, and I took it on when it was empty 17 months!!!! I took it on initial 6 month trial, and at 6 months he told me he could get 170 a week for the shop from someone else.
    I simply couldnt afford the 170 a week, so I called his bluff. The shop is now empty again, and has been for 13 weeks since I closed up end of March
    The crazy thing about it was I knew this Landlord through my local FG organisation, knew him going back 5 years, canvassed with him and in fact he is also a near neighbour!!!!
    The bottom line was he saw my business picking up and got greedy. His greed backfired. Ive transferred entire business online and Ive cut my overheads by 31% and turnover is up 26% last quarter. So for me its win win. For the landlord and his new imaginary tennent at 170 a week its lose lose - and back to empty shop
    The shop owners in Dundrum should demand fair rents based on their shops profitability. There needs to be a good mix to enhance the overall viability of the complex. So its time for the landlord to wise up and help these struggling businesses.

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    Rents in Dundrum should be cut by between 25-50% depending on the size of the shop, once again a developer is getting greedy.

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    Politics.ie Member seabhcan's Avatar
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    Quote Originally Posted by True Republican View Post
    Rents in Dundrum should be cut by between 25-50% depending on the size of the shop, once again a developer is getting greedy.
    I hate to defend the developers, but its not quite that they are being greedy now. They were greedy and foolish a few years ago. Now they are up to their necks in debt and trying to stay afloat.

    Rents should and will fall more. But an unavoidable effect of that is that more developers will go bust, more loans defaulted, and the state, via NAMA, losing more money.

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    Quote Originally Posted by On_The_Far_Right View Post
    Folks its like this, the first signs of recovery in economy and landlords went nuts to increase rents. Id a small shop in Cavan and the landlord was charging 100 a week for it, and I took it on when it was empty 17 months!!!! I took it on initial 6 month trial, and at 6 months he told me he could get 170 a week for the shop from someone else.
    I simply couldnt afford the 170 a week, so I called his bluff. The shop is now empty again, and has been for 13 weeks since I closed up end of March
    The crazy thing about it was I knew this Landlord through my local FG organisation, knew him going back 5 years, canvassed with him and in fact he is also a near neighbour!!!!
    The bottom line was he saw my business picking up and got greedy. His greed backfired. Ive transferred entire business online and Ive cut my overheads by 31% and turnover is up 26% last quarter. So for me its win win. For the landlord and his new imaginary tennent at 170 a week its lose lose - and back to empty shop
    The shop owners in Dundrum should demand fair rents based on their shops profitability. There needs to be a good mix to enhance the overall viability of the complex. So its time for the landlord to wise up and help these struggling businesses.
    They or some of them, haven't learned a thing.

    The landlord you were dealing with, has lost out, because of his greed.
    The hurt of one is the hurt of all, the honour of one is the honour of all.

    Native American Indian Traditional Code of Ethics

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    Politics.ie Member dresden8's Avatar
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    You guys are off message.

    It's public sector pay and pensions that are the cause of this trouble.

    Sheesh, do ye ever look at the internet at all.

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