The Ginger Pig, a much admired and very trendy butcher’s, is one of the firms which is in negotiations to take over the recently vacated site of AG Dennis on Wanstead High Street.
An advert listing the site has been published which announces the rent at £40,000 p.a. – which is believed to be some way above the rents charged elsewhere on the High Street. The shop is however one of the prime positions in Wanstead, and the advert lists other chains which are present, including Nationwide, Costa, Tesco and Boots.
Lawyer Jim Moloney posted earlier this week on the Wansteadium Facebook page the following message:
Michael McGunney – still makes me laugh
hmm, sounds like kite flying to me to stoke up some upmarket interest. what sort of agent breaches confidentiality publicly like that? fastest way to upset a genuine potential tenant. Can only conclude they are not going to come, and the tactic is to scare other potential tenants into thinking there is up market deeper pocketed interest in the lease. ergo – rent stays high.
Chris Morgan boom ranga
£40k rent?????? Unbelievable. How is anyone supposed to be able to afford that unless they’re a large chain
They only left because the greedy landlord stoked up the rent and increased the lease by another £28k requesting half straight away! That’s what put them on their knees!
Available ‘at a commencing rental £40,000 p.a. excl.’ – so that’s just the first year. Well done on putting it out of reach of smaller businesses, then scaring off the mid-sized ones.
£40k rent sounds right. I looked into the unit near Heads and Tails and that was pushing £30k a year!
Ridiculous amounts of money and explains why it makes sense to get the big chains in who can afford that.
As for the Ginger Pig.. It is not really independent is it.. Do we want that…
The Giggly Pig from the Farmers Market would be a better choice.
Ginger Pig, yes please
This is what you get when the locals spend more per week on coffee/cake from the chains than they do in the independents.
This is just depressing. If what Mark Bentley says is true (& no reason for me to disbelieve) then it does appear that the landlords are angling for an organisation that could weather a slow start before becoming established. £40k seems a huge amount and if the business is then paying rates, utilities and wages on top of that, that’s an enormous amount it has to bring in each week just to cover costs, let alone buy stock and turn a profit.
What is this obsession with Ginger Pig??? Whichever way you try to dress it up, it’s still a chain and a private company with shareholders. Hence, it is in no way a ‘local’ or ‘independent’ trader.
People on these pages may sneer a new beauty parlour or nail bar – but that’s just their snobbery showing through, because like it or not, these are the few real ‘local’ and ‘independent’ traders that are left.
It’s probably because people want a butchers.
I don’t understand why the advert would contextualise the location by listing a number of chains if the aim is to attract an independent. Everything points to paying lip service to local wishes for a quality indy while targeting a multiple capable of paying the iniquitous £40k starting rental.
Not quite sure what Peter means by the Ginger Pig not being independent. Sure, it’s a brand now and has seven outlets, but it’s not like Innocent being owned by Coca-Cola… is it??
Ginger Pig sausage rolls ; bring it on.
Brilliant news!!!
That landlord is taking the piss, leave it closed for a couple of years and he’ll see sense
I am sure my comment will annoy some, landlords are entitled to ask for whatever they want and don’t just make up a price. Rent reviews happen generally every 10 years and ultimately it does mean all those that own in Wanstead, your property has increased in value & inturn rent for those that go for leases.
I vote for Ginger Pig, just what the high St. Needs; better class of butchers.
at those prices only betting shops will be able to afford the rent… sigh. 🙁
Andrew,
Innocent never used to be owned by Coca Cola.. Just Like Camden Brewery never used to be owned by AB-Inbev.
Once they grow too big for their boots or get purchased by corporations, they are all about the profit and not the customer.
I will say it again, Giggly Pig from the Farmers Market or the East London Sausage Company from Walthamstow.
Bring it on. It would be amazing for the Ginger Pig to set-up shop on the High Street and I am sure that they will do very well. The point about them being a small chain is meaningless. They are a butcher which sells excellent products, they care about quality, welfare and provenance – which in turn has proved a successful formula allowing them to expand around London.
I partially agree with you Rachel. Our property increased in value thanks to the indie shops like the fishmonger or the greengrocer. obviously if landlords will prefer to get few thousands more from big chains like paddy power (or poundland) than from AG dennis, it’s them choice. but it’s not the best for the community