Read on Twitter
Over 11 years ago, I was renting a large industrial building and a house in the area. Within months of each other, the building was repossessed by the bank & the landlord in the house said "his sister was moving in".
We didn't want to buy that house anyway, so that was cool.
1/
We didn't want to buy that house anyway, so that was cool.
1/
Offered to rent the building for €110,000 per year. They declined. The building was worth €1.1 mill at the time.
They caught us right at the end of the lease and just refused to entertain the possibility of renting the building. I believe the agents were CBRE.
So anyway
2/
They caught us right at the end of the lease and just refused to entertain the possibility of renting the building. I believe the agents were CBRE.
So anyway
2/
I happened to be driving past the area today and you'll never guess.... that large industrial unit has been empty for over 11 years, it is now destroyed, derelict and beyond restoring.
But you'll never guess what... SO IS THE HOUSE! The house has been empty the entire time
3/
But you'll never guess what... SO IS THE HOUSE! The house has been empty the entire time
3/
Our company had 8 staff. We had to move somewhere else and some of the lads couldn't come with us because we had to move too far.
Worse again, in our new place, there was constant break ins and we ended up having to close it down due to huge losses via theft and vandalism.
4/
Worse again, in our new place, there was constant break ins and we ended up having to close it down due to huge losses via theft and vandalism.
4/
I have to say, what a stupid system.
The bank takes land off someone, hires a management agency, they hire a security firm & now loads of people are getting paid as a physical asset deteriorates & they're incentivised to not lease it out, instead only looking for a sale.
5/
The bank takes land off someone, hires a management agency, they hire a security firm & now loads of people are getting paid as a physical asset deteriorates & they're incentivised to not lease it out, instead only looking for a sale.
5/
We moved on and things got better for us, we ended up doing quite well actually.... but those set backs cost us years, cost workers their jobs, cost landowners profits and cost the state rates and tax etc...
Every time we were forced to move, we lost staff.
Silly.
6/6
Every time we were forced to move, we lost staff.
Silly.
6/6
