Thursday, October 9, 2008

Starting small.

Whether it is due to the current economic woes, or just coincidence, our agency has a number of smaller retail units to rent at present. By smaller, I mean 300-500 sq ft, in areas such as Mitchel Street, Irishtown, Mary Street and Market Place. The important thing about these units is that they are all reasonably priced. Rental ranges from €10,000 per annum (pa) to €15,000pa, ie €2-300 per week. All are offered on flexible leases from 1-5 years. This gives any budding entrepeneur the opportunity to get into business reasonably cheaply from a property perspective.

There has been a great level of interest for these cheaper units, from new entrants to established retailers. Specialist wine shops, accessory shops and new clothing shops are the main enquiry source, but a more unusual phenomenon (to me in any event) is the surge in enquiries for tanning/beauty salons. Perhaps it is the bad weather we have had, but tanning seems to be a growing (glowing?) business. It is very popular amongst our large Polish and Lithuanian population and now also it seems, amongst Irish females too!

This level of interest in smaller properties at lower rents shows that given the right cost base, there are plenty of people willing and able to take the first steps to start their own business. A town needs large retailers, and Clonmel has a long list of National retailers, but it is also vital to the heart of any town that smaller, local retailers thrive. It is great to see this level of interest, even at this more difficult of times! Long may it last.

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