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Thread: sex shop

  1. #1
    Join Date
    Nov 2012
    Posts
    475

    Default sex shop

    Hi, Just out of interest, I know its a bit strange but one of the commercials I bought was a sex shop, again mainly for the 4 residential units it came with.

    We had some issues with the bank but I just wondered if anyone had any idea about resale of this building? Do you think it would put people off?

    The good thing is that this is a national chain with over 40 stores so it is a very good tenant, its not quite Ann Summers and certainly a bit more seedy with some eye opening stuff but I just wondered with this being a national company would I get a great price upon selling? Or will a lot of people be put off? Any idea on what rent multiple for this?

  2. #2
    Join Date
    Jun 2008
    Location
    oop north
    Posts
    4,884

    Default

    Just as a comment,

    I would not entertain renting or buying a flat on top of a Sex shop,
    ever. And I got there to view, I would just turn around and walk away,
    and not even wait for the agent.

  3. #3
    Join Date
    Nov 2012
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    Default

    The flats actually have a complete seperate access and we managed to let them all no problem, they have nothing to do with the shop or brothels and it is possible to enter them without actually seeing the shop but it was obviously a concern for us.

    When we originally showed it to the bank they said they had concerns from a reputational point of view about the shop but when we showed them that it was a national chain and had a strong lease they were ok. I can see it obviously does strike a nerve and may need a more adventurous investror if we ever come to sell, no wonder the yield on the building was over 20%!!

  4. #4
    Join Date
    Nov 2008
    Location
    Suffolk
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    Default

    The big advantage about sex shops as tenants, is the council will be more pro-active about granting change of use to get rid of the them!
    The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the salient facts BSc (Hons)

  5. #5
    Join Date
    Aug 2010
    Location
    London
    Posts
    1,090

    Default

    Wouldn't bother me. A restaurant or fast food outlet, that would put me off.
    There is always scope for misinterpretation.

    If my posts can be interpreted in two ways, one that makes you feel angry and one that doesn't, I meant the latter.

    Everyday is an opportunity to learn something new.

  6. #6
    Join Date
    Jan 2011
    Posts
    1,433

    Default

    Anyone living in the property and having a dinner party would never be short of conversation :-)

  7. #7
    Join Date
    Jun 2008
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    oop north
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    Default

    Quote Originally Posted by Claymore View Post
    Anyone living in the property and having a dinner party would never be short of conversation :-)
    Strange dinner parties you go to !

    I have never talked sex at dinner, and see absolutely no reason for
    it, other than sex mad males perpetuating their lust and forcing it on
    others who do not wish to think about a "quick fix" or "kick" out of
    degrading a conversation.

  8. #8
    Join Date
    Oct 2012
    Location
    England
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    257

    Default

    When you read the prohibitions on user that most leases contain, sex shop is often amongst them, along with betting office, sale of alcohol, fun fair, lunatic asylum, and residential.

    Ignoring the squeamish, prudish, and God-fearing, I think it's old-fashioned to mark down the value because of the occupier's use. When all's said and done it's only on lease and a lease can be ended.

    .

  9. #9
    Join Date
    Nov 2012
    Posts
    475

    Default

    Claymore, can I get an invite to one of your dinner parties?

  10. #10
    Join Date
    Aug 2011
    Location
    Manchester
    Posts
    171

    Default

    Once had to remove goods from a sex shop, the worrying stuff is in the back room!

    I must say, sex shop "goods" sold better than normal stuff at the auction.

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