New Tesco Express?

[2112]

Can you imagine the performance that will be created if Greggs or Pound Bakery decided to open a small unit on Strand Street? Residents will be choking on their Cheese, Bean and Sausage Melts!

[2112]

Tesco have not paid a divi for 3 years. They're not going to open a shop in a proven total loser area are they? V surprised the sports place is coming here tbh.

There must be a reason as to why they would buy a shopping centre and spend a large sum refurbishing and opening 3 stores in a population which is small compared to the shopping centres and retail parks where they are. It may be financially beneficial? Still at the end of the day it will rejuvenate the area and the Manx public will be able to buy cheap designer clothing, better designer clothing and good designer clothing cheaper than already established retailers. Sales of tracksuits will increase too!

[woolley]

 

 

 

Reported today on the Government propaganda Mouthpiece Manx Radio, Tesco pulling idea of setting up at the Strand Centre. I doubt Tesco will think of opening up anymore shops on the island, which is the islands loss.

It isn't though is it?

 

It is pure greed from Tesco. They could quite easily set up a convenience store (they have outrageous margins) and make plenty of money. It was the same in Castletown.

 

Tarne - you are drunk if you think a Tesco Express was going to be the saviour of Castletown. Deary me.

 

 

 

oh dear, oh dear! Poor misguided 'Notwell'. Do you have a working knowledge of the 'outrageous margins' which you claim Tesco make?

 

You clearly do not understand that the cost of operating in town centre are way higher than an out of town hypermarket.

 

The Tesco Express margins bear no comparison to the hyper/supermarket model.

 

You need to look at the Co-op and Spar for the charging/profit model and those margins are substantially higher than any hypermarket be that in or out of town. It's a convenience store charging convenience prices.

Tesco wouldn't have Tesco Express if it margin bore any resemblence to its day to day super/hypermarket business.

 

The costs on that street are outrageous though, Notty. I know for a fact. Personally, I think they had a lucky escape.

[notwell]

Tesco have not paid a divi for 3 years. They're not going to open a shop in a proven total loser area are they? V surprised the sports place is coming here tbh.

If you are alluding to the Strand then i'd say that is a proven winner area. The footfall is there and some businesses have operated successfully there for a long time.

The payment of the divi has nothing to do with their Express/Metro market. It is to do with their large scale, low margin business being squeezed by the likes of Aldi and Lidl coupled with their over aggressive expansion plans hitting the rails as a result.

 

There is sense in Sports Direct taking a view in the Isle of Man. They are saturating the UK and need new markets. They have other brands to incorporate in there too. It's a slick business model and it looks like they are making a significant investment. Can't be all bad for the island.

[forestboy]

 

 

 

 

Reported today on the Government propaganda Mouthpiece Manx Radio, Tesco pulling idea of setting up at the Strand Centre. I doubt Tesco will think of opening up anymore shops on the island, which is the islands loss.

 

It isn't though is it?

 

It is pure greed from Tesco. They could quite easily set up a convenience store (they have outrageous margins) and make plenty of money. It was the same in Castletown.

 

Tarne - you are drunk if you think a Tesco Express was going to be the saviour of Castletown. Deary me.

 

oh dear, oh dear! Poor misguided 'Notwell'. Do you have a working knowledge of the 'outrageous margins' which you claim Tesco make?

 

You clearly do not understand that the cost of operating in town centre are way higher than an out of town hypermarket.

The Tesco Express margins bear no comparison to the hyper/supermarket model.

 

You need to look at the Co-op and Spar for the charging/profit model and those margins are substantially higher than any hypermarket be that in or out of town. It's a convenience store charging convenience prices.

Tesco wouldn't have Tesco Express if it margin bore any resemblence to its day to day super/hypermarket business.

The costs on that street are outrageous though, Notty. I know for a fact. Personally, I think they had a lucky escape.

 

That's why I can't understand why Waltons are moving into Strand Street with no free parking nearby. Maybe the Peel Road site also had a rip off rent.

[woolley]

@ Notty: Strand Centre a proven winner.

 

If you note though, businesses that have done well there are all high margin. Clothing, cards etc. MEA didn't matter because we were paying for the shortfall. HMV latterly was only marginally viable and was running the lease down. You need to sell a lot of beans and bottled water to make a convenience store with no easy vehicular access work in that location.

[Non-Believer]

I was told that the rent on the Ann Summers outlet (now closing too?) is @ £165k pa. That's a lot of er.....

[j2bad]

the Manx public will be able to buy cheap designer clothing, better designer clothing and good designer clothing cheaper than already established retailers. Sales of tracksuits will increase too!

 

Its not designer clothing, its branded clothing, with cheap Chinese clothes labelled with cheap brands bought out of receivership etc.

[woolley]

 

 

 

 

 

Reported today on the Government propaganda Mouthpiece Manx Radio, Tesco pulling idea of setting up at the Strand Centre. I doubt Tesco will think of opening up anymore shops on the island, which is the islands loss.

It isn't though is it?

 

It is pure greed from Tesco. They could quite easily set up a convenience store (they have outrageous margins) and make plenty of money. It was the same in Castletown.

 

Tarne - you are drunk if you think a Tesco Express was going to be the saviour of Castletown. Deary me.

 

oh dear, oh dear! Poor misguided 'Notwell'. Do you have a working knowledge of the 'outrageous margins' which you claim Tesco make?

 

You clearly do not understand that the cost of operating in town centre are way higher than an out of town hypermarket.

The Tesco Express margins bear no comparison to the hyper/supermarket model.

 

You need to look at the Co-op and Spar for the charging/profit model and those margins are substantially higher than any hypermarket be that in or out of town. It's a convenience store charging convenience prices.

Tesco wouldn't have Tesco Express if it margin bore any resemblence to its day to day super/hypermarket business.

The costs on that street are outrageous though, Notty. I know for a fact. Personally, I think they had a lucky escape.

 

That's why I can't understand why Waltons are moving into Strand Street with no free parking nearby. Maybe the Peel Road site also had a rip off rent.

 

I honestly can't see who they are aiming that strategy at.

[notwell]

@ Notty: Strand Centre a proven winner.

 

If you note though, businesses that have done well there are all high margin. Clothing, cards etc. MEA didn't matter because we were paying for the shortfall. HMV latterly was only marginally viable and was running the lease down. You need to sell a lot of beans and bottled water to make a convenience store with no easy vehicular access work in that location.

I'm not disputing how expensive it has been to be renting a unit in the Strand.

 

I'm just stating that as an area in terms of footfall it is a success and businesses have been successful despite the costs. Sports Direct will have a better control on those costs given that they own it entirely (rather than it being leveraged to the hilt before the previous owner took it).

Tesco Express could easily have made good money on that site, with or without an alcohol licence. I see there was a big conflict of interest in there too.

 

"The claimant argued that the LCA was wrong in law in refusing to allow new evidence.

 

And it questioned whether a perception of bias or unconscious bias arose from the fact that the chairman of the LCA sat on a number of the same tribunals as counsel for Tesco.

 

The LCA refused to state its case on that latter allegation and described it as a ’frivolous’, which prompted Shoprite’s owners to lodge a second petition of doleance seeking an order compelling the LCA to state its case."

[notwell]

I was told that the rent on the Ann Summers outlet (now closing too?) is @ £165k pa. That's a lot of er.....

I'm not sure about that.

 

I know of several rents in that area close by and they would not correlate to that sort of level (or close to it).

 

I would be surprised if the rent on Ann Summers was much over half that figure, if that.

[woolley]

To be fair, some of the rents HAVE come down plenty. They needed to. Some are now rented at substantially less than they were 10 years ago, and it's still too expensive.

[Douglas Prom]

I was told that the rent on the Ann Summers outlet (now closing too?) is @ £165k pa. That's a lot of er.....

I

Wasn't it one of their best selling stores in the UK?

[JackCarter]

 

 

 

Reported today on the Government propaganda Mouthpiece Manx Radio, Tesco pulling idea of setting up at the Strand Centre. I doubt Tesco will think of opening up anymore shops on the island, which is the islands loss.

 

It isn't though is it?

 

It is pure greed from Tesco. They could quite easily set up a convenience store (they have outrageous margins) and make plenty of money. It was the same in Castletown.

 

Tarne - you are drunk if you think a Tesco Express was going to be the saviour of Castletown. Deary me.

 

oh dear, oh dear! Poor misguided 'Notwell'. Do you have a working knowledge of the 'outrageous margins' which you claim Tesco make?

 

You clearly do not understand that the cost of operating in town centre are way higher than an out of town hypermarket.

The Tesco Express margins bear no comparison to the hyper/supermarket model.

 

You need to look at the Co-op and Spar for the charging/profit model and those margins are substantially higher than any hypermarket be that in or out of town. It's a convenience store charging convenience prices.

 

Tesco wouldn't have Tesco Express if it margin bore any resemblence to its day to day super/hypermarket business.

It is a fact (do you know what they are?) that the dfference between Tesco's and Tesco's Express margins is only about 11.2 per cent on average. Operating costs for Douglas would be considerably more than that.

[trmpton]

I was told that the rent on the Ann Summers outlet (now closing too?) is @ £165k pa. That's a lot of er.....

Only £100k out, and it's not like the info is secret

 

http://xpp1.caldes3.com/property_images/7863/67_Strand_Street_retail.pdf