Arch company in the news again
Breaking news: behaves like total .
Folks have to start voting with their feet.
What’s crazy about these idiots is they’re charging a fortune, driving business out then just ending up with empty property. Half the arches by my house are empty
They’re not crazy, and they’re the furthest thing from idiots. I’m not a fan (because I think their macro impact is net negative and hopefully one day will be seen as anachronistic), but underestimating anyone rarely ends well.
The Arch Co are owned by Blackstone and Trillium, with just the former managing over a trillion USD in assets. For oversimplified comparison, Switzerland’s nominal GDP was a mere 900 billion usd last year, and the UK’s was some 3.3 trillion usd.
Anyone can make mistakes, but you can bet that whatever their play is they’ve had squads of hyper critical people pore over the models, and that’s what they’re deciding to do.
These people are strategic, they know full well what they are doing and how to use the law to their advantage. with armies of lawyers at their call. Its also not personal, be it us, the night club or any other tenant that fall under their management, if the lease does not protect them from unfair raise best they can do is go to arbitration. That will be us in 3 years… although all corporations have in the UK a need for a social mission statement - So if we become a charity that might afford us some protection via their social mission statement.
From a social cohesion perspective they are irresponsible, as their decision impacts the local community most, one they have no vested interest in as they don’t live, work or play here. For them its purely business and the bottom line but then again they are not alone in that narrative. Huge pockets of London is being “Re developed” and “gentrified” none of the locals asked nor wanted it either. Yet its happening anyways.
Question we should be asking ourselves, knowing the nature of the beast, is can “We” be equally strategic and line up our ducks between now and in 3 years to stay ahead of what’s coming our way?