It's actually a bit of a myth that stuff's cheaper on Amazon, some of their own production can be a it cheaper, but over half of the goods on there are from third party sellers, who are generally selling at exactly the same prices as they're selling on the high street. It's really just convenience that's driving so much traffic their way and that's not going to change, I don't subscribe to the theory that it will bring the end of the high street, but there needs to be an urgent and radical revision to retail business rates to have any chance of saving it.
I don't have any shops now, I gave up the last one (Carnaby Street) in 2014. I did actually look at one fairly large freehold building in Hull to move the whole business into a couple of years ago (retail ground floor, with office/showroom and stock storage on the upper floors), but decided against it.
I thought it was both business rates and rents that were holding back the High Street? About 10 years ago St Mary's Court in Beverley suddenly emptied of virtually all the shops, and one of the shop managers told me that the landlord had got greedy and jacked up the rents, and it was an occupational hazard if you had a shop. I do wonder what is really going on in places like Whitefriargate, and why landlords seem to be happy to have empty shops rather than doing what they can to let them. It seems like business rates form a large chunk of council income, so presumably some kind of funding reform of local authorities would be needed in order to relieve retail business rates. We'll all end up paying, one way or another.
Whitefriargate was largely killed off as a result of Trinity House refusing to reduce rents went the street started to slide. It used to be the most expensive street in the City and they waited far too long to get realistic about rents, by which time things had become almost terminal. Now rents have fallen by well over 50% but the rates have stayed the same, so there's a ridiculous situation, where the rates bill is often significantly higher than the rent. In fact, they're almost giving some of the units away, just to get people to pay the rates. The old Ann Summers unit has a big double aspect corner frontage and was being offered at £30k a year rent, now you can get it on a three year lease for £1 year one, £7k year 2 and £14k year 3, just over £20k for three years, but the rates will cost you another £40k.
Business rate amounts and rules by central government. Any support would come from the general council pot.
I shouldn't think so. I suspect some sort of scheme will be set up at some point, where particularly badly affected streets will be designated 'regeneration areas' and made rate-free for a while to get people into units.
In fact, they're almost giving some of the units away, just to get people to pay the rates. But why would landlords slash rents just to benefit the council? That's the bit I don't get, unless they've gone all civic-minded all of a sudden!
Just heard an interview with bloke who runs Larkins Bar in Newland Ave. Seems to have done a good job on the social distancing front, anybody been?
Once OLM mentioned it to me I remembered it. I think it's always been like that. I think you pay nothing for the first few months then it's the full whack after that.
Rates didn't have to be paid on empty properties, but they changed it a fair while ago now, you're exempt for the first three months, but need to pay after that.
Councils are short of money and are trying to use every angle. Council tax on a house in Hull, 25% discount if you live alone full 100% if it's empty???. Someone told me East riding charge more than 100% on an empty house. I guess this carries over into retail units too.
You can get a discount on an empty residential property, from 0-100%, at the councils discretion (there's no charge for the first six months, but then tax is payable depending on the circumstances). East Riding charge 200% Council Tax surcharge if a property has been empty for more than two years and a 300% surcharge if it's been empty for more than five years. As it should be really, it's a good incentive to not leave places empty. Business rates are paid to the council, but they only collect it on behalf of the government, the council don't control the charges.
Mine was empty for 4 months putting right all that previous tenants had broke, stolen or generally ****ed up. No discount, luckily as they calculate the yearly payment into 10 monthly payments, with a bit of good luck / timing I only paid 2 months. From HCC web site Empty properties and second homes Even if the property is uninhabitable due to being under major repair/alteration there are no discount or exemption available for these type of properties.
You can get 3 months relief on Business Rates, and longer in some circumstances. https://www.gov.uk/apply-for-busine...:text=Empty properties,for a further 3 months
Is that £40k over the 3 years? Still a shocking amount of money. And just another hidden tax on the consumer (as we have to pay in the long run through the price of goods). I wonder if anyone (not meaning on here ) has done a calculation of how much the average person actually pays in total as a percentage of their earnings to the government in one form or another - PAYE, NI, VAT, insurance tax, own council tax, business rate impacting on shop prices, road tax, fuel tax, alcohol tax, etc etc..... It must be an astounding amount in full.
