Colin Furze's New Workshop

[EEVblog]

Wow!

[Jackster]

Took him long enough to get a larger space! Can't wait to see what he makes.

[EEVblog]

Took him long enough to get a larger space! Can't wait to see what he makes.

Yeah, amazing what he did with the home garage.
I'm surprised he didn't do it earlier either, he must have be bringing in a lot of coin.
I love how he used the new tools to actually build the space.

Compare this with Mark Robers "dream lab" which has basically zero tools:

[Jackster]

Took him long enough to get a larger space! Can't wait to see what he makes.

Yeah, amazing what he did with the home garage.
I'm surprised he didn't do it earlier either, he must have be bringing in a lot of coin.
I love how he used the new tools to actually build the space.

Compare this with Mark Robers "dream lab" which has basically zero tools:

Quite a few creators on the platform are moving into these larger spaces. New meta?
Guessing the increased viewership from lockdowns is paying off now and commercial space in some places, while not getting cheaper, is easier to come by.

EEVBlog 10,000sqft warehouse lab when...?

[EEVblog]

Quite a few creators on the platform are moving into these larger spaces. New meta?
Guessing the increased viewership from lockdowns is paying off now and commercial space in some places, while not getting cheaper, is easier to come by.

EEVBlog 10,000sqft warehouse lab when...?

I seriously would if one was cheap enough and close enough to home. Maybe I'm just so used to the convenience, but literally going to another part of the business park, or even just literally across the main road to the more industrial type business park would suck.
Where I am only costs me about $7k per year ($5k office + $2k dungeon). A bigger place would cost more, and I'd have to rent it. They are still way to expensive to buy.

For example, here is a real nice mostly office sapce one:
https://www.realcommercial.com.au/for-lease/property-unit-18-10-gladstone-road-castle-hill-nsw-2154-504159743
Here is a nice mixed space one:
https://www.realcommercial.com.au/for-lease/property-6-5-salisbury-rd-castle-hill-nsw-2154-503247434

Both are about $40k/year with outgoings. I was paying that when I rented the 100sqm office space that flooded.
Assuming I could rent my office for say $25k then that's still a $15k differential which isn't a huge amount, but not insignificant. The value return would be zero though, which is why I moved back here.

I could almost do a direct swap rent/rent for this place:
https://www.realcommercial.com.au/for-lease/property-291a-old-northern-road-castle-hill-nsw-2154-503814790

Giant 10,000sqft warehouse? I'd have to drive forever or pay 6 figures per year.

At one point I did consider buying a house nearby with a giant shed and renting out the house. Not as crazy as it sounds. Could even potentially turn out costing me nothing. But with the recent interest rate rises...

[EEVblog]

Nearest 10,000sqft warehouse is over $100k per year as I said:
https://www.realcommercial.com.au/for-lease/property-81-redfern-street-wetherill-park-nsw-2164-504191303

[Wilksey]

Do you ever look at these spaces and see what used to be in them and think how the bloody hell did they afford to rent it before!  They may have got a cheaper deal at the time but with all of the rates etc on top.

[EEVblog]

At one point I did consider buying a house nearby with a giant shed and renting out the house. Not as crazy as it sounds. Could even potentially turn out costing me nothing. But with the recent interest rate rises...

One is currently available for $1.4M with a 90sqm shed within a short bike ride.
$1.4M at say 5% interest is $70k/year interest.
Rent out the house for say a very cheap $500/wk $26k/year. Rent out the current office at say $25k/year. It'd still cost me around $20k/year just to pay off the interest. Maybe doable if you tweek the numbers a bit.
2 years ago at 3% interest rate it was completely doable.

[Wilksey]

At one point I did consider buying a house nearby with a giant shed and renting out the house. Not as crazy as it sounds. Could even potentially turn out costing me nothing. But with the recent interest rate rises...

One is currently available for $1.4M with a 90sqm shed within a short bike ride.
$1.4M at say 5% interest is $70k/year interest.
Rent out the house for say a very cheap $500/wk $26k/year. Rent out the current office at say $25k/year. It'd still cost me around $20k/year just to pay off the interest. Maybe doable if you tweek the numbers a bit.
2 years ago at 3% interest rate it was completely doable.

Yeah but unless you pay capital you are essentially renting the place for 70k a year from the bank and liable for all repairs etc, you'd want to pay off more than that!

[wilfred]

At one point I did consider buying a house nearby with a giant shed and renting out the house. Not as crazy as it sounds. Could even potentially turn out costing me nothing. But with the recent interest rate rises...

I remembered reading a news item about insurance companies denying payout if the home was also being used for running a business.

https://www.abc.net.au/news/2022-07-21/can-working-from-home-void-insurance-policy/101253774

I thought some of the businesses were on the low end of the risk scale. Like selling eggs from some chickens. But you'd want to be sure you remain covered. There are probably thousands of people giving a free kick to the insurance companies if push came to shove.

[EEVblog]

Do you ever look at these spaces and see what used to be in them and think how the bloody hell did they afford to rent it before!  They may have got a cheaper deal at the time but with all of the rates etc on top.

Yeah, it's nuts.
I tweeted this:
https://twitter.com/eevblog/status/1577527490591232000

[Wilksey]

Do you ever look at these spaces and see what used to be in them and think how the bloody hell did they afford to rent it before!  They may have got a cheaper deal at the time but with all of the rates etc on top.

Yeah, it's nuts.
I tweeted this:
https://twitter.com/eevblog/status/1577527490591232000

How in the world does a café earn 170k a year let alone have it as rent?!  I'd really like to know their secret to being able to afford to pay bills, rent, staff etc, must have a lot of footfall!

[nctnico]

Do you ever look at these spaces and see what used to be in them and think how the bloody hell did they afford to rent it before!  They may have got a cheaper deal at the time but with all of the rates etc on top.

Yeah, it's nuts.
I tweeted this:
https://twitter.com/eevblog/status/1577527490591232000

How in the world does a café earn 170k a year let alone have it as rent?!  I'd really like to know their secret to being able to afford to pay bills, rent, staff etc, must have a lot of footfall!

Think about how much a cup of coffee that sells for $5 costs to make.

[coppice]

How in the world does a café earn 170k a year let alone have it as rent?!  I'd really like to know their secret to being able to afford to pay bills, rent, staff etc, must have a lot of footfall!

Making a lot of revenue isn't the issue with running something like a cafe. You can find high traffic spots that will make you a lot of revenue. The problem is finding a spot where there is enough traffic to earn a bit more than the rent. When the lease is up for renewable, the landlord's agents will have monitored you well, worked out your costs and revenue, and will price the renewal rent accordingly. That's why so many apparently successful places are only there for one cycle of their lease.

[EEVblog]

Do you ever look at these spaces and see what used to be in them and think how the bloody hell did they afford to rent it before!  They may have got a cheaper deal at the time but with all of the rates etc on top.

Yeah, it's nuts.
I tweeted this:
https://twitter.com/eevblog/status/1577527490591232000

How in the world does a café earn 170k a year let alone have it as rent?!  I'd really like to know their secret to being able to afford to pay bills, rent, staff etc, must have a lot of footfall!

I've eaten there a few times and it is usually patronised fairly well. There is a ton of high end companies in this business park.
Half a dozen employees at peak times at least.
Standard upmarket-ish cafe fare and prices
But yeah, $170k just to cover the rent is a huge cost.

https://www.instagram.com/wholenorwest/?hl=en