Katman Posted July 22, 2016 Share Posted July 22, 2016 They also own Field & Trek, wouldn't mind a branch of that on the Island. Link to comment Share on other sites More sharing options...
woolley Posted July 22, 2016 Share Posted July 22, 2016 Ashley is clearly an awful human being, Oh I don't know, he's quite fit... Tell me, Bees. What was it that first attracted you to the billionaire Mike Ashley? Link to comment Share on other sites More sharing options...
2112 Posted July 22, 2016 Share Posted July 22, 2016 Another positive thing to note is, it's highly unlikely that MA/SD will be holding out the begging bowl for loans/grants/entitlement. I wonder if MA decides to buy a property here? Link to comment Share on other sites More sharing options...
woolley Posted July 22, 2016 Share Posted July 22, 2016 Another positive thing to note is, it's highly unlikely that MA/SD will be holding out the begging bowl for loans/grants/entitlement. I wonder if MA decides to buy a property here? He personally has probably given about five minutes consideration to this. Someone in his team will have thought it looked like a decent investment at a handy price and run it by him. I doubt that he is basing a thesis on it. Link to comment Share on other sites More sharing options...
notwell Posted July 22, 2016 Share Posted July 22, 2016 It's a logical place to look to expand in to. The UK is saturated. Link to comment Share on other sites More sharing options...
Shake me up Judy Posted July 22, 2016 Share Posted July 22, 2016 I wonder if he's had a sniff of the DED £50 million (or what's left of it) to set up here ? I'd like to know a bit more about this move to the IOM and whether any incentives were offered. Link to comment Share on other sites More sharing options...
notwell Posted July 22, 2016 Share Posted July 22, 2016 I wonder if he's had a sniff of the DED £50 million (or what's left of it) to set up here ? I'd like to know a bit more about this move to the IOM and whether any incentives were offered. Well if they did get any of the £50m then the IOM Govt has an equity stake in the business. They aren't giving it away. You do realise that don't you? I suspect they won't have any money from the scheme. Why would they bother? And I don't know what you think every business needs an incentive to be here. It is no different to SD deciding they want to open a store in any town in the UK where they dont have a presence. The incentive for SD here is an untapped area with very little competition and a very favourable regime for taxation on their profit. Next you'll telling me Tesco must have been incentivised to come here. Or M & S. Or Boots. Has it occured to you that this is generally a place that certain businesses can make good profit. Link to comment Share on other sites More sharing options...
hillshepherd Posted July 22, 2016 Share Posted July 22, 2016 Everyone having a go at Mike Ashley and supposedly not brilliant working practices. Alright it isn't ideal, but let's face it, some of the HNWIs and other worthies living here, aren't exactly the best employers in the world. Are some of the Tynpotwalders employers, model employers? Do they pay fantastic wages? Working conditions out of this world? It would be interesting to note. Like him or Loathe him, a Sports Direct will be opened, there will be jobs - if the Manx don't like it, I'm sure there are plenty of Eastern European residents more than willing and capable of working. Also investment will be made into the shopping centre - a building firm will gain additional employment, the building merchants will get much needed business. There's a chance that most of the units will be let - who knows we may be able to buy, sausage, bean and cheese melts via Greggs or Pound Bakery! and maybe a mobile food outlet on douglas head,sack ALL the douglas town councillors especially that prick mcnicholl,what a bunch of arseholes. Link to comment Share on other sites More sharing options...
Max Power Posted July 22, 2016 Share Posted July 22, 2016 I wonder if he's had a sniff of the DED £50 million (or what's left of it) to set up here ? I'd like to know a bit more about this move to the IOM and whether any incentives were offered. Well if they did get any of the £50m then the IOM Govt has an equity stake in the business. They aren't giving it away. You do realise that don't you? I suspect they won't have any money from the scheme. Why would they bother? And I don't know what you think every business needs an incentive to be here. It is no different to SD deciding they want to open a store in any town in the UK where they dont have a presence. The incentive for SD here is an untapped area with very little competition and a very favourable regime for taxation on their profit. Next you'll telling me Tesco must have been incentivised to come here. Or M & S. Or Boots. Has it occured to you that this is generally a place that certain businesses can make good profit. If I remember correctly, M&S have a peppercorn rent on the site which their store has been built of £1.00 per year over 99 years? Link to comment Share on other sites More sharing options...
notwell Posted July 22, 2016 Share Posted July 22, 2016 I seriously doubt that. There may have been some sort of rent free period (fairly common in commercial leases) but I cannot see how there would be a sound business case to let £300,000 per annum plus in prime rental space go for free. And for 99 years at that. Link to comment Share on other sites More sharing options...
gettafa Posted July 22, 2016 Share Posted July 22, 2016 Hey, topic is topical too over there >> Jeremy Corbyn and Sports Direct on Facebook just now. Hey Mike, stuff 'em and bring your business base over here. Link to comment Share on other sites More sharing options...
John Wright Posted July 22, 2016 Share Posted July 22, 2016 I seriously doubt that.There may have been some sort of rent free period (fairly common in commercial leases) but I cannot see how there would be a sound business case to let £300,000 per annum plus in prime rental space go for free. And for 99 years at that. Who paid for and managed the building work of the store and car park? Link to comment Share on other sites More sharing options...
Katman Posted July 22, 2016 Share Posted July 22, 2016 If I remember correctly, M&S have a peppercorn rent on the site which their store has been built of £1.00 per year over 99 years? If the Lease they hold is actually 99 years (which I doubt) then being longer than 21 years, the Lease would have to be registered with the General Registry and you will be able to look it up to back up your claim. Link to comment Share on other sites More sharing options...
notwell Posted July 22, 2016 Share Posted July 22, 2016 I seriously doubt that.There may have been some sort of rent free period (fairly common in commercial leases) but I cannot see how there would be a sound business case to let £300,000 per annum plus in prime rental space go for free. And for 99 years at that. Who paid for and managed the building work of the store and car park? I don't know John. Do you? I can't remember when it was actually done. I think it was around 1990/1? Link to comment Share on other sites More sharing options...
John Wright Posted July 22, 2016 Share Posted July 22, 2016 My recollection is they were given a long lease on the land and built it themselves. So a low rent on basis the building reverts back to government at the end of the lease would not be unreasonable. But I can't be certain. I do recall the build time was short and that it was managed by M&S. That was the subject of considerable comment at the time. Link to comment Share on other sites More sharing options...
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