Some Of The Cheapest Retail Space In Town!
The market is never wrong and the market says the retail space at the Conference Centre downtown is simply not worth the $25 SF they were once asking for it and are now offering the space for $15 SF (asking rent).
There is space in Terminal Park Mall asking $22 - $25 SF, Metral Drive $26 SF and Southgate Plaza at $25 SF for comparison purposes. Granted, these spaces are also still available but it would seem that in downtown Nanaimo in what is arguably the premium location, retail rents are 'dirt cheap'. Of course to put those numbers into context a 1000 square foot store at the conference centre which includes the triple net factors still costs over $2100 per month and you still haven't paid for your utilities.
So before you rush to sign that lease hoping to make your fortune selling Grandma's secret recipe cookies make sure your business plan can afford to earn $2100 per month before you start paying yourself.
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