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Gosport Town Centre - freehold for sale


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gosport.thumb.jpg.fd3e1f1794999f17390c1b3f20a3ec33.jpg

Well, it used to be McDonalds. I was shocked to see this disappear. But take a look at the picture, this should be a busy High Street. It is DEAD. This was a Friday, mid morning. 

The freehold is for sale, it is a central location - I don't normally see freeholds advertised so openly, you normally see leaseholds. This tells me that there is no hope for the High Street. It is priced for failure. 

However, if you have a war chest, and see it as a 100 year investment, then it may be worth a look.

I hear the government are spending £300m for the entire UK's High Streets. This is absolutely laughable. It needs more like £30bn to compete with internet. The current high street needs next to nothing business rates, and a huge cut in landlord rents. The only places that might be thriving are new out of town shopping parks. 

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It's priced as if it will attract a commercial rent and the commercial property market is collapsing; buying that makes zero sense.

There was a piece before Christmas by a retail analyst saying that in his estimation Britain has about twice as many shops as can be supported.  I think he's being optimistic tbh and they will fall like ninepins and keep falling.

That's bad news for the retail workers / shareholders and for the owners of commercial property and there is no reason to expect any kind of revival.  High street retail peaked maybe ten years ago and the decline is only going to get faster.

As I can't stand shopping I can however only say "Hurrah!".

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3 hours ago, Frank Hovis said:

There was a piece before Christmas by a retail analyst saying that in his estimation Britain has about twice as many shops as can be supported.  I think he's being optimistic tbh and they will fall like ninepins and keep falling.

 

We will always need food.
But the myriad of supermarkets are not needed.
 

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1 minute ago, sarahbell said:

 

We will always need food.
But the myriad of supermarkets are not needed.
 

I've posted on other threads how I think that the cost of living rising faster than wages for several years now is pricing lower paid people out of being able to afford a car so I can see a steady climb in the number of home deliveries for the weekly shop.  It costs something under £100 a year for these deliveries so they are vastly cheaper than running a car if that's your primary use for the car.

Supermarket expansion stopped about three years ago; I don't see any closures yet but as home delivery from distribution depots begins to climb then there will be a slow retraction as the least profitable stores are steadily closed.  Waitrose however looks like a special case of a chain that has lost its way by alienating its existing customers without attracting any others and may be tumbling down a lot quicker than that.

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10 minutes ago, Frank Hovis said:

I've posted on other threads how I think that the cost of living rising faster than wages for several years now is pricing lower paid people out of being able to afford a car so I can see a steady climb in the number of home deliveries for the weekly shop.  It costs something under £100 a year for these deliveries so they are vastly cheaper than running a car if that's your primary use for the car.

Supermarket expansion stopped about three years ago; I don't see any closures yet but as home delivery from distribution depots begins to climb then there will be a slow retraction as the least profitable stores are steadily closed.  Waitrose however looks like a special case of a chain that has lost its way by alienating its existing customers without attracting any others and may be tumbling down a lot quicker than that.

Car ownership is the first thing I'm going to drop when I hopefully retire in ~9 years. It's one of my most expensive outgoings and on the whole I only use it for food shopping and getting to and from work....probably at the same time as the supermarkets stop the loss making home deliveries! But even a walk to the shop and a taxi home would be much cheaper annually.

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5 minutes ago, Kwyjibo said:

Car ownership is the first thing I'm going to drop when I hopefully retire in ~9 years. It's one of my most expensive outgoings and on the whole I only use it for food shopping and getting to and from work....probably at the same time as the supermarkets stop the loss making home deliveries! But even a walk to the shop and a taxi home would be much cheaper annually.

It makes financial sense but are you sure?  My car usage is 95% the same as yours at present but in retirement I intend getting out and about a lot - walks, water sports - and unelss I want to only ever do the same walks or paddle the same beaches then I'm going to need a car.

My fuel saving will be noticeable though; currently slightly under 20k miles costing about £2,500 - £3,000 a year on the commute.

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3 minutes ago, Frank Hovis said:

It makes financial sense but are you sure?  My car usage is 95% the same as yours at present but in retirement I intend getting out and about a lot - walks, water sports - and unelss I want to only ever do the same walks or paddle the same beaches then I'm going to need a car.

My fuel saving will be noticeable though; currently slightly under 20k miles costing about £2,500 - £3,000 a year on the commute.

All good points, but at my last MOT my annual mileage was 3.2K so I hardly use it for anything else! (I am about 4 miles from work but dont fancy cycling in the cold/rain so it is my luxury item). People often ask me what I plan to do in retirement, and I still don't have the answer yet, but I am lucky to live near a mainline station so I can get to a lot of places relatively cheap compared to car ownership.

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3 minutes ago, Kwyjibo said:

All good points, but at my last MOT my annual mileage was 3.2K so I hardly use it for anything else! (I am about 4 miles from work but dont fancy cycling in the cold/rain so it is my luxury item). People often ask me what I plan to do in retirement, and I still don't have the answer yet, but I am lucky to live near a mainline station so I can get to a lot of places relatively cheap compared to car ownership.

 

As somebody who has already retired twice (at forty and forty five) I would suggest giving that some serious thought.

My retirements both failed because I had no clear plan as to how I was going to fill my days.  Which was no problem in the summer - open door, go out - but in the winter sent me mental with boredom so I started looking for another job.

I now have a rough idea of how to make the whole year fulfilling so am planning my third and final retirement which has a backstop date of a bit over three years but will be brought forward markedly if the 2% NI age tax is brought in as I refuse to pay a penny of that. 

The  big advantage of the car for me is getting to remote places for walks and to transport kit (surfboard, kayak).

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...just to add to this, some of my friends think I am crazy to walk a few miles to meet them, when I could easily get a taxi. I try to explain to them it is exercise and I just set out a bit earlier, enjoy the walk, and save money...how is that crazy!

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2 minutes ago, Frank Hovis said:

 

As somebody who has already retired twice (at forty and forty five) I would suggest giving that some serious thought.

My retirements both failed because I had no clear plan as to how I was going to fill my days.  Which was no problem in the summer - open door, go out - but in the winter sent me mental with boredom so I started looking for another job.

I now have a rough idea of how to make the whole year fulfilling so am planning my third and final retirement which has a backstop date of a bit over three years but will be brought forward markedly if the 2% NI age tax is brought in as I refuse to pay a penny of that. 

The  big advantage of the car for me is getting to remote places for walks and to transport kit (surfboard, kayak).

Thanks for the advice Frank, I will definitely consider these points. TBH I have become a bit of a hermit even during my working life in the pursuit of the holy grail of retirement.

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2 minutes ago, Kwyjibo said:

Thanks for the advice Frank, I will definitely consider these points. TBH I have become a bit of a hermit even during my working life in the pursuit of the holy grail of retirement.

Retiring at forty was one of the biggest rushes of my life ever.  Every day I could get up and do whatever I wanted for the rest of my life.  Wow.

Admitting that I had failed at it was pretty hard.  Failing twice was worse.

I realise now that work provides a vast amount more than just the money - challenge, socialising, self-discipline, structure, achievement - and that I need to replace the best bits of that with my own activities or I will be failing for a third time.

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1 minute ago, Option5 said:

If retirement is where you get to do what you like I retired at 16, I do what I like as a job and see no point in giving it up to do nothing.

Good for you Option5. I wish I had a job like yours, and that's not meant sarcastically in any way, but a bit jealously.

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Just now, Option5 said:

If retirement is where you get to do what you like I retired at 16, I do what I like as a job and see no point in giving it up to do nothing.

 

Why would you do nothing?  When you have time and health you can do anything you choose. 

Retirements aside I spent five years studying archaeology because I was interested in it; the last two years were self-funded so it cost me quite a few quid.

I like my job but I am doing very little other than my job so I want to stop doing it so that I can do the other things I want to do; not nothing.

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1 hour ago, Frank Hovis said:

Supermarket expansion stopped about three years ago; I don't see any closures yet but as home delivery from distribution depots begins to climb then there will be a slow retraction as the least profitable stores are steadily closed.  Waitrose however looks like a special case of a chain that has lost its way by alienating its existing customers without attracting any others and may be tumbling down a lot quicker than that.


Two morrisons near us. Closest is pretty useless apparently, but as I don't go often (home deliveries) then I don't worry.
I am aware it's a lot dearer than aldi though, but need to weigh up renewing the annual pass vs going shopping. *(urgh)

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2 minutes ago, sarahbell said:


Two morrisons near us. Closest is pretty useless apparently, but as I don't go often (home deliveries) then I don't worry.
I am aware it's a lot dearer than aldi though, but need to weigh up renewing the annual pass vs going shopping. *(urgh)

:D

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4 hours ago, Frank Hovis said:

Retiring at forty was one of the biggest rushes of my life ever.  Every day I could get up and do whatever I wanted for the rest of my life.  Wow.

Admitting that I had failed at it was pretty hard.  Failing twice was worse.

I realise now that work provides a vast amount more than just the money - challenge, socialising, self-discipline, structure, achievement - and that I need to replace the best bits of that with my own activities or I will be failing for a third time.

Very frank of you...Frank. It takes a strong person to admit they got it wrong.

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5 hours ago, Kwyjibo said:

Good for you Option5. I wish I had a job like yours, and that's not meant sarcastically in any way, but a bit jealously.

Quality control and product testing isn't for everyone but the brothel needed someone.

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  • 1 month later...

There's a freehold for sale near me, only £1.5m (!), it's an ex-Natwest branch and quite substntial listed building but alas, it's got very limited parking and no grounds. Even if it were converted to flats then nobody would be able to park. A load more freeholds from old banks will be coming on this year I suspect.

 

If councils were willing to stop the rates ripoff then they could be let/bought by successful companies and run as offices, but because of their high street location the council won't let that happen as it means much reduced rates if you aren't a "shop".

(Unless they get rid of rates relief which seems more likely, the greedy bastards)

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  • 3 weeks later...

"Ministers urged to provide rescue package for ailing high streets" 

"MPs committee report suggests online sales tax and more help for local authorities"

https://www.theguardian.com/business/2019/feb/21/ministers-urged-to-provide-rescue-package-for-ailing-high-streets 

The report states on-line is killing the high street, shame they've missed the obvious impact from out of town shopping centres that are springing up everywhere (the ones with good road access, unlimited free parking etc. - unlike towns which are now car-unfriendly and will be worse once the clean air zones go live later this year ). Over-charging business rates does get a mention which is good...

 

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