Quote:
Originally Posted by Shazam
Only rumours.
But the lease just ended, so there's going to be some negotiations going on.
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I assume you mean with other interested parties? Because if the Rose & Crown's stuff is being auctioned off I'm assuming that owner is done, dusted and gone.
Maybe someone more well-versed in this sort of thing can chime in, I only have experience in office locations.
I just think that in a market squeezed as tight as right now any realistic landlord would want to maintain their current tenant. Unless there were some seriously extenuating circumstances like....I dont know, if they dropped the rent 40% during COVID and want to return to normal and R&C said 'no way' or something like that.
I just think its madness for a landlord to realistically want to raise rent on a restaurant in this post-COVID economic environment.
You're talking about an industry that has been getting kicked in the teeth for the better part of 2 years and coming out of that is dealing with huge jumps in food, utility and labour costs in conjunction with massive inflation which makes their product more expensive and leaves their customers with fewer disposable dollars.
You'd imagine if they had a decent rent-paying restaurant tenant they'd be holding onto them like Grim Death.