Passed by this afternoon and really sorry to see a “For Let” sign up. I always liked that pub, good knowledgeable staff, decent selection of beers, it’s a real shame to see it gone.
I was in school with one of the lads who worked there. He said the lease was coming to an end and the owner of the building tried to jack up the rent, the Lambert lads from Wexford who had Grady's Yard just said they weren't even entertaining that kind of behaviour and left.
A real pity because it was a great pub (with amazing food) but nothing seems to last very long in that location and now I think I can see why.
rent seeking activities are lethal for business survival
He said it wasn't even a reasonable inflationary rent increase or anything which they would have been ok with, it was a blatant cash grab and the landlord just being a greedy ****
yup, thats the game, its lethal, it really does cost jobs and businesses
I thinks there's history of this with this particular site. Landlord's loss at the end of the day - building has been sitting vacant for 6 months now and probably will be for a good while longer. A real shame.
who owns the building?
The same with Confession Box hairdresser’s on the Dunmore road they closed Christmas 2020 and lockdown this time last year happened ,i heard there was problems with the landlord and they never opened back up the shop has been vacant since ,instead of coming to some sort of comprise the landlord just lets it sit empty, the very same with Gradys Yard id say.
A crying shame. It was one of the better spots for a night out & food. Great alternative to Geoffs. Nice outdoor & smoking areas. Great choice of beer. It provided Waterford with something different IMO. The landlord probably saw how well it was doing and tried to get their pound of flesh. Anyone wanting to know why Waterford is drifting/sleep walking its this kind of carry on; excessive rent & unreasonable expectations. Surely the people in question should have realised that the hospitality was mothballed since Mar 2020 till very recently. If anyone is thinking of signing a lease there then "why bother?". Take your business up the road to Kilkenny or somewhere you'll be appreciated. TBH I think a 'Grady's Yard' would fit in nicely by the seaside out in Tramore.
Dont understand these landlords that seem to cut off their noses to spite their faces by failing to hold on to good tenants. Theres obviously more to it than that - maybe they avail of tax breaks for these properties when they are empty etc.
government policy actually incentives vacancy, theres virtually little or no consequences for doing so, hence our growing vacancies and dereliction, property owners 'gain' by simply doing nothing, as their property grows in value, as these policies are also geared towards ever growing value....
But surely this value is only tied to inflation/the rising costs of property, which is running at a few % a year for commercial? (I appreciate Residential is far outstripping Commercial, but there are plenty of empty Commercial units around the place). The other side of this is that all the time their property is empty they are losing out on rent and secondly surely a property with an active tenant is a more attractive proposition to sell on than one which has been left vacant?
What are they gaining from leaving the unit vacant? The property will grow in value at the same rate whether or not there's a tenant in there (as I mentioned above a property with an active tenant is probably more attractive to a seller as it shows the property is in demand), so what are they gaining from leaving it vacant? I'm sure there must be some reason for it because it happens all over the country, plenty of empty units in Dublin too, but you haven't actually explained how they are gaining from this "government policy" of leaving units vacant.