Post by
NuTrader17 on Aug 11, 2021 8:15pm
Clinics under construction
I'm going speculate that empower is currently paying rent on the 4 clinics under construction. Not sure what the rent per sq ft in those areas would be but I'm assuming it's not cheap in commercial zones. That's added to the burn rate for possibly q2 depending on when the buildouts started and for sure q3 with no income coming back from those "clinics". Anyone going to the AGM should ask if the other 4 leases are currently payable now or at a later date for example sept1, oct1 etc.
Comment by
Outlander1 on Aug 11, 2021 8:27pm
Well I imagine most landlords would cut a bit of a deal for retro fitting especially since there is and will be a glut of availability due to the shift to working from home.
Comment by
NuTrader17 on Aug 11, 2021 8:37pm
Are there alot of empty commercial units for lease? I dont live in ontario so I honestly dont know. All of the people I know who are currently working from home are from more commercial office spaces than commercial retail type spots like strip malls. Shed some light if your from any of the ontario areas that have current buildouts and leases.
Comment by
Outlander1 on Aug 11, 2021 9:25pm
None are in my area. There are quite a few for lease signs in retail spaces where businesses have shut down. Even if that wasn't the case, a landlord usually cuts a deal for a new tenant doing Reno's. Obviously there would be a time factor involved so the sooner the clinics are up and running the better.
Comment by
Outlander1 on Aug 11, 2021 10:19pm
Seems like $15 /ft2 per month is the going rate