John Lewis

[prince al]

Such a depressing sad situation that could have been avoided with sufficient vision, purpose and business  incentives.

[the_bloke]

On 07/04/2021 at 14:37, Baron99 said:

I heard a SCC councillor with responsibility for the city centre regeneration state on Radio Sheffield a few weeks ago, that the council / council tax payers would not be out of pocket on this deal as a result of JL pulling out of the building. 

https://www.thestar.co.uk/whats-on/things-to-do/sheffield-council-paying-john-lewis-millions-under-new-deal-here-what-investigation-has-found-2974929

 

That's a disingenuous statement from the council isn't it.

 

SCC gives JL 3.4m to buy out the lease

JL pays off the old 42 year lease

JL enters into new lease

JL new lease rental costs based on JL turnover

SCC promises more money to develop the store

JL quits

 

So SCC now own an empty building

JL is paying no rent as it has no turnover

 

The only money SCC will get back from JL is whatever it costs for JL to buy themselves out of the lease. JL has already not paid rent for X months as the store hasn't made any money, so presumably the taxpayer is already out of pocket!

 

It might be financially prudent for JL to not buy themselves out the lease at all, and just leave the store empty

 

In the meantime, SCC gets no monthly rent as the store isn't making money

SCC can't put a new store/stores in until JL leave

Building slowly falls into disrepair

 

I'm sure a massive empty building making absolutely no money in rent or business rates will not leave the taxpayers of Sheffield out of pocket. (!)

 

Even if JL pay back all the money SCC gave them, it still leaves a massive empty building costing money to maintain and providing zero input to Sheffield economically. Any potential earnings a taxpayer owned building could make but isn't is a loss to the taxpayer.

Edited April 11, 2021 by the_bloke

[Baron99]

4 hours ago, the_bloke said:

https://www.thestar.co.uk/whats-on/things-to-do/sheffield-council-paying-john-lewis-millions-under-new-deal-here-what-investigation-has-found-2974929

 

That's a disingenuous statement from the council isn't it.

 

SCC gives JL 3.4m to buy out the lease

JL pays off the old 42 year lease

JL enters into new lease

JL new lease rental costs based on JL turnover

SCC promises more money to develop the store

JL quits

 

So SCC now own an empty building

JL is paying no rent as it has no turnover

 

The only money SCC will get back from JL is whatever it costs for JL to buy themselves out of the lease. JL has already not paid rent for X months as the store hasn't made any money, so presumably the taxpayer is already out of pocket!

 

It might be financially prudent for JL to not buy themselves out the lease at all, and just leave the store empty

 

In the meantime, SCC gets no monthly rent as the store isn't making money

SCC can't put a new store/stores in until JL leave

Building slowly falls into disrepair

 

I'm sure a massive empty building making absolutely no money in rent or business rates will not leave the taxpayers of Sheffield out of pocket. (!)

 

Even if JL pay back all the money SCC gave them, it still leaves a massive empty building costing money to maintain and providing zero input to Sheffield economically. Any potential earnings a taxpayer owned building could make but isn't is a loss to the taxpayer.

It must have been Coun. Mezer Iqbal who I heard speaking on Radio Sheffield a few weeks ago. 

 

https://www.thestar.co.uk/news/politics/john-lewis-negotiations-were-a-10-year-saga-says-sheffield-council-chief-3186436

 

He's the one currently charge with city centre regeneration.  As stated by Lib Dem Coun. Martin Smith “It sounds pretty obvious that there was no clause in that £3m deal that made it conditional for them to stay.”

 

As Coun. Iqbal states, “It gave us the ability to offer John Lewis a new lease on modern terms with a contribution for refurbishment, in return for a rental payment based on turnover, to retain them in Sheffield."

 

But as 'The Bloke' has pointed out in his post, SCC now appear to have nothing more than a empty shell of a building that needs a refurb.  What other retailer / retailers will want to go into a building that clearly needs substantial work carrying out on it & who would be expected to pick up the cost of the refurb or who, more likely is going to pick up the bill for the buildings demolition & site clearance? 

 

Hmmm?  Let me think?  Hard up Sheffield council tax payers are my first thought?  

With the upcoming SCC elections due, it might be an appropriate time to pin a few councillors down & ask a few relevant questions? 

Edited April 11, 2021 by Baron99

[alexander874]

I think what's sad is that the staff won't be able to have a few last days serving customers that they've known for years and to be honest I think John Lewis stinks they're not showing any consideration for the staff {to call them partners is a joke].

[ormester]

On 06/04/2021 at 13:24, The Joker said:

Wow.

 

So all a vibrant, forward-thinking city needs is an IKEA?  You should run for Mayor.

 

No, actually I think you should run for Prime Minister instead.

 

I'd do a better job than the shower we have and Julie bore 😁

Let's see what happens I know they have been in talks 

[Baron99]

Well here's a few people who have an idea for the site. 

https://www.examinerlive.co.uk/whats-on/shopping/major-plan-rejuvenate-sheffield-city-20354710

 

Not sure about the plan meeting the 'City centre housing crisis'?  Firstly, do we have a city centre housing crisis & how do you meet it by possibly building apartments at what would possibly be potentially the most exclusive address in the city centre? 

[Bargepole23]

10 hours ago, ormester said:

I'd do a better job than the shower we have and Julie bore 😁

Let's see what happens I know they have been in talks 

What's your experience of managing city centre redevelopment and budgets on this scale? Your experience of negotiating with retailers who appear to hold the upper hand?

 

Presume you must have the experience to know what's required and to therefore know you could do a better job.

Edited April 12, 2021 by Bargepole23

[iansheff]

Interesting article about how the store could be rejuvenated.

Major plan to rejuvenate Sheffield city centre after John Lewis departure - YorkshireLive (examinerlive.co.uk)

[Resident]

19 minutes ago, Bargepole23 said:

What's your experience of managing city centre redevelopment and budgets on this scale? Your experience of negotiating with retailers who appear to hold the upper hand?

 

Presume you must have the experience to know what's required and to therefore know you could do a better job.

Lets face facts, he hasn't got any of that but then seemingly neither have SCC...

[Baron99]

John Lewis' boss has decided to halt further store closures but sadly, it doesn't include Sheffield. 

 

https://www.retailgazette.co.uk/blog/2021/04/john-lewis-boss-halts-store-closure-programme/