Or Gail's Breads (£7 a loaf last time I looked) or Paul, Starbucks, Costa, Caffe Nero or another chain able to pay the level of rent that a small business cannot.
There ceased to be rent control in the residential sector years ago and there has never been AFAIK any rent control in the commercial sector. This is very worrying for small businesses, who all political parties claim to want to help. I don't know how they propose to help. There's no help for small businesses priced out by rent hikes, another famous example (not Brixton obv) being Gaby's in Charing Cross Road.
It's all about greed and getting the utmost price in rent, of course. My area (in SE London) is about five years behind Brixton in terms of gentrification and I really dread the places I eat and drink in being closed due to rent hikes.
That's a shame. I used to eat there a couple of times a week as it was a few yards from my office. Almost 20 yrs ago, mind.Another example is Food For Thought in Covent Garden, closing after 40 odd years. As a veggie I often popped in for a cheap meal
http://www.theguardian.com/business...-iconic-vegetarian-restaurant-set-for-closure
London is getting blander by the second I'm afraid
Another example is Food For Thought in Covent Garden, closing after 40 odd years. As a veggie I often popped in for a cheap meal
http://www.theguardian.com/business...-iconic-vegetarian-restaurant-set-for-closure
London is getting blander by the second I'm afraid
London is getting blander by the second I'm afraid
whisper of an 'All Bar One' but it might be just a rumour.
This is horrendous in every direction you look at it. I know very little about commercial leases but from what i recall from college many years ago they are typically 15? years with 5 year reviews, upwards only rent reviews, full repairing and insuring, and tenant is liable for any dilapidation. Any review is based on local commercial rates, and i believe there ought to be a review dispute structure.
This sounds like a disaster - a bunch of landlords unable to make a satisfactory return signed-up someone desperate for a site for a short term lease on god knows what terms and now appear to be about to profit from the expiration of the lease and uplift of local values. The rent must have been very low and the tenant very trusting/naive/poorly advised to go near a tenancy split across three landlords - triple the risk, and the bargaining strength is with them; any one could ask for excessivlely increased rent at the end of the term and exert undue influence on the tenant through the necessity of retaining all leases. Essentially the tenant is open to blackmail on three fronts.
Best of luck to them and i hope they find somewhere else, but in the longer term they are better out of this situation.
I'm not a lawyer, but a lot of legal documents do pass my desk. 5 year leases do happen, but the scenario of 3 landlords is most unusual. I asked one of the legal team if a 3 times rent hike is usual, he looked puzzled (as in not really) and answered "only if they can get away with it".
Just to be clear - there are not 3 landlords. The whole of the ground floors of 64, 66, and 68 (plus basements below, and a bit more) are under one lease (125 years,120 remaining). This lease is owned by three people (one of the original 3 has been bought out by someone else in the past 5 years by the looks of it), but that's not three landlords, not three sets of negotiations. Thy may argue amongst themselves as to what they want to do but they present one face to the sub-leaseholder. The freehold (to the whole block) is owned by someone else (a company; not cross-referenced for common ownership with the lease yet).
Thanks for the clarification. Still sounds like a complicated mess though. So the Kaff owner is a sub-tenant then?
That's what I heard. They didn't all get on and had different plans about the venue.Thy may argue amongst themselves as to what they want to do...
Thanks for that. Adds some clarity although I'm not sure it makes the hugest difference in practical terms. Although they are legally one entity there is no duty on the landlords to present one face to the tenant, I don't think. If they can't agree amongst themselves then that is unfortunately also the tenants problem. That said, he does not automatically lose any rights he has just because the landlords can't agree with each other.Just to be clear - there are not 3 landlords. The whole of the ground floors of 64, 66, and 68 (plus basements below, and a bit more) are under one lease (125 years,120 remaining). This lease is owned by three people (one of the original 3 has been bought out by someone else in the past 5 years by the looks of it), but that's not three landlords, not three sets of negotiations. Thy may argue amongst themselves as to what they want to do but they present one face to the sub-leaseholder. The freehold (to the whole block) is owned by someone else (a company; not cross-referenced for common ownership with the lease yet).
Do you know whether the sub tenancy was expressly exempted from the Landlord and Tenant Act 1954? (This would effectively take away automatic rights of renewal, I believe).
Last night was the venue's final party. It closes its doors to the public this afternoon.
I'm going to REALLY miss the place.
http://www.brixtonbuzz.com/2015/07/...road-as-gentrification-claims-another-victim/
Such a shame but it's disappointing the full story has not been reported.
So you hinted at earlier… so why not actually say something?
They've had every opportunity to put forward their side of their story, but they have elected to stay quiet. If you have some amazing insights into the affair, please share it.Such a shame but it's disappointing the full story has not been reported.
They've had every opportunity to put forward their side of their story, but they have elected to stay quiet. If you have some amazing insights into the affair, please share it.
Did the rent triple or not?I am not going to say anything as I feel there had not been any investigated journalism carried out by others supporting 'Kaff' but not reporting entire story.
I am not going to say anything as I feel there had not been any investigated journalism carried out by others supporting 'Kaff' but not reporting entire story.