Always Look on the Bright Side of Life... (Part I)
Posted by Mark on 18th Jan 2012
One of the few advantages of being middle aged is that you are old enough to know stuff, but not too old to start forgetting it (despite the havoc that a property lifestyle can have on your brain cells.)
So as matters lurch from bad to worse in the retail property market, I would like to bring a little perspective to bere as a man who started his career as a rookie retail agent in the equally as grim early 90's.
Equally grim? Surely some mistake?
However just as every generation thinks "this time is different," that they have found the key to the secret money machine as they inflate the bubble, going the other way everyone thinks that their problems are uniquely exquisite in their terribleness.
However in my first few years of work the following happened:
-Next nearly went bust, their shares traded at 10p
-The Glades in Bromley, now one of South London's best schemes, opened with 40% vacancy
-I couldn't get shot of a prime, former River Island in Croydon, on the basis of a 5 year lease with 5 years rent free
Now clearly the last one maybe says more about my abilities as a retail agent than anything else, but I post other comparisons when I get the chance.
But in the meantime, keep smiling, what doesn't kills you makes you stronger......