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Tower Bridge Piazza / Courage Yard

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Monday 21 November 2016 10.15am
Property Investment funds are a funny old bunch.

They would rather leave premises empty on the chance of getting in a tenant at at certain rental charge eg £10k, than do a deal with someone at £8k to get some income.

It's all about hitting yield targets, ROI etc and sod everyone else.

Don't be surprised to see the empty shop premises converted into office space.
Monday 21 November 2016 12.44pm
Agreed. it makes no sense to me. I've always felt that what is now to be Courage Yard should have a attracted lots of tenants given the amount of foot traffic at nearby Tower Bridge but it's struggled ever since I moved in in 1992. I could understand it if the owners wanted to leave it for (say) 12 months but many units have been/were empty for much longer than that. Let's hop we don't end up with a number of beautifully refurbished, but empty units. So far all that seems to be lined up is a Starbucks doubled in size, with three other current tenants moving out.
Monday 21 November 2016 12.51pm
Copper Row Barbers are moving into Saffron Wharf according to their website.
Monday 21 November 2016 8.26pm
From what I have heared even some of those remaining are not really wanted but still had long and secure leases etc.

This also applied to Starbucks who I suspect have a good legal team behind them for lease issues.

Apparently d&d were interested in the pavilion but this maybe unlikely now, maybe the alchohol restriction is an issue?

The fact that the rents being asked are so high can only support the rumours of things being a bit underhand can't they?
Monday 21 November 2016 9.37pm
I expect that keeping units empty serves a (longer term) purpose, as suggested by NickTheGreek. I'm sure that to get permission for a change of use the owners would need to provide evidence to support their case, and a unit empty for many years helps with this. The root cause of the empty unit - high rent - is unimportant.

Reckon this helps not just with converting to offices but also with switching to food retail too.

Anyway, I'm glad they decided to keep the estate agents as there just isn't enough choice around here these days!
Tuesday 22 November 2016 9.51am
bohrsatom wrote:
I expect that keeping units empty serves a (longer term) purpose, as suggested by NickTheGreek. I'm sure that to get permission for a change of use the owners would need to provide evidence to support their case, and a unit empty for many years helps with this. The root cause of the empty unit - high rent - is unimportant.
Reckon this helps not just with converting to offices but also with switching to food retail too.

Anyway, I'm glad they decided to keep the estate agents as there just isn't enough choice around here these days!

That's what another landlord attempted to do in the Circle. Thankfully residents and councilors worked hard and Tesco backed out.
Tuesday 22 November 2016 1.06pm
What I can’t understand is that to gain planning permission there was lots of talk about building and working with the community, now they seem to be able to just ignore this.
 
In fact  someone from CT has gone as far as saying, their only commitment is to the company’s shareholders, not the area, community or residents that's just the way a capitalist society works sadly we know this is often the case but to openly say it ......
 
Unfortunately few individuals have the financial clout to argue the case so the like of CT and their associates get away with bullying their way through.

Hope the small shops do find new places nearby!
Tuesday 6 December 2016 10.39pm
Hi All ,
thank you for all your patience .
just let everyone know we are finally open for buisness from Wednesday 7th December.
Hope to see you all there!
18 shad Thames Saffron Wharf
Wednesday 18 January 2017 5.08pm
The latest small business to go is Lifestyles, the homewear shop on Horsleydown which seems to have shut in the past few days. Looks like only the dentist and Café Paradiso are staying. So much for promises of community involvement in the development.
Wednesday 18 January 2017 11.13pm
Any updates on any new openings in the new courage yard
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