Keep smil­ing and rock on

A pos­i­tive men­tal at­ti­tude dur­ing tough times can gen­er­ate good busi­ness, writes David Grif­fin

The Herald Business - - News Digest - David Grif­fin is man­ag­ing di­rec­tor of Grif­fin Web­ster, char­tered sur­vey­ors

I HAVE been in­volved in com­mer­cial prop­erty since 1978, been through the trou­bles of the early 1980s and the re­ces­sion of 1990 to 1994 but noth­ing pre­pared me for the de­pres­sion which be­gan in June 2007.

Prices have been slashed, val­u­a­tions have fol­lowed and loan- to - value covenants breached, re­sult­ing in ever more in­vest­ments be­ing forced on to the mar­ket, driv­ing it down fur­ther.

I have per­son­ally been in­volved in two pur­chases where the ac­qui­si­tion prices are about 5% of the 2006/2007 sales fig­ures – that is why I re­fer to the “de­pres­sion”.

Then I de­cided that the only way for­ward was to stop be­ing de­pressed, and look on the bright side. Af­ter all, if you are a Glas­gow Rangers fan at least you have never won a league ti­tle in March be­fore.

I con­sid­ered the so-called “horse­meat scan­dal”. Two things: it was only mis­la­belling – there is noth­ing wrong

with horse flesh, in many coun­tries it is on qual­ity restau­rant menus. More im­por­tantly, de­spite de­tailed wide spread an­a­lyt­i­cal re­search, there has not been a sin­gle record of hu­man body part be­ing found in any ham­burger or shep­herd’s pie for that mat­ter. Is that not really com­fort­ing?

Let me tell you, this new ap­proach is work­ing. I have not had a more suc­cess­ful month in my life than March 2013. So­lic­i­tors have been in­structed on two shops on Great West­ern Road; we con­cluded one shop and placed two oth­ers un­der of­fer on Queen Mar­garet Drive; a shop in Stir­ling is await­ing lawyers to fi­nalise the con­tract; and we let a floor in New­ton Ter­race.

All small deals I know, but it shows there are peo­ple out there pre­pared to say enough is enough, let’s give it a go.

We also agreed terms to buy a 28,000 sq ft of­fice build­ing in Cly­de­bank and I was very pleased with the sale of seven acres of con­tam­i­nated land to East Dun­bar­ton­shire Coun­cil which, af­ter clean-up, will fa­cil­i­tate the con­struc­tion of a new sports sta­dium. Both sets of so­lic­i­tors really pulled their fin­gers out to en­sure cru­cial dead­lines were met.

But I am over the moon that Hard Rock Café has signed a con­tract, sub­ject to plan­ning and li­cence con­sents, to lease from my long­est-stand­ing client – 179 Buchanan Street, The Old Athenaeum.

If Glas­gow City Coun­cil shows the same en­thu­si­asm to­wards th­ese ap­pli­ca­tions as it did with our sub­mis­sions on the ad­join­ing Chaophraya, where last year plan­ning con­sent was granted in less than four months, then we will be hav­ing 100% beef burg­ers for our Christ­mas party.

The Old Athenaeum may be swing­ing by Christ­mas

An up­beat ap­proach has brought David Grif­fin suc­cesses such as a Hard Rock Cafe con­tract

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.