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Reminders When Buying Commercial Property For Sale London

commercial property for sale londonBuying commercial property for sale London is easier said than done, pretty much just like everything that’s related to real estate. If ever you find yourself in the middle of or at the beginning of such task, here are some reminders to keep in mind.

  1. Identify needs first. – When it comes to acquiring retail spaces, it pays to acknowledge the very purpose for it and therefore the identification of one’s needs. The features and various other characteristics that make up the asset bought should fit these otherwise the effort would be futile.
  2. Follow up with the wants. – Also known as the negotiable variables, these pertain to certain features that you prefer to have but not necessarily need. They are, if anything, a bonus and can help differentiate a good investment from a better one.
  3. Location matters. – Because we’re talking about retail investments here, location is of primary importance especially since it dictates a lot of other factors that surround the asset such as exposure and convenience.
  4. But so does foot traffic. – Location may be king but foot traffic is its queen. This pertains to the amount of people that pass by or are exposed to the brand due to the location. It includes current or potential customers regardless if they go in or just pass by.
  5. Assess neighboring establishments. – Which establishments or companies are your neighbors? This plays an integral factor as it can either help one’s business or pull it down. For instance, the value of a property is hugely affected by its surrounding entities. Even the presence of complementary brands or competitors can play a significant role.
  6. Make sure it’s spacious enough. – Retail investments need to be huge enough for their intended purpose. Cramped spaces can easily turn off customers and allow for the risk of accidents.
  7. Opt for lesser ongoing costs. – Some assets may appear affordable at first glance but eventually they prove to be hefty to maintain. This is why prior to closing in on a deal, have the ongoing costs assessed. The lesser the better.
  8. Always conduct a survey. – When choosing among the commercial property for sale London in the market, make sure to call upon a chartered property surveyor to look into the ones on your short list. This is an overall assessment of the asset that looks into its various features and details and shall help determine if it is worth the money spent.


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Commercial Property for Sale London and Why You Need a Chartered Surveyor

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chartered surveyorsBuying a commercial property for sale London is serious and not to mention tough business. There’s a lot of information to process and definitely so much more to work on and prepare for. It’s a herculean task but one that needs to be done. But whether you’re a real estate investor who considers assets as products or a company that needs them for operations, one thing remains the same. We all need a chartered surveyor and here’s why.

Aside from a real estate agent or a lawyer, we also need to hire surveyors for a very important reason and one of them is to keep us from entering shady and misleading deals. Property ads do a lot of sales talk and that’s a given. Our job is to see through it and we can’t do that if we do not examine the property for what it’s worth. Since we’re not experts in the field, we definitely need to hire someone who is.

One of the primary aspects that chartered surveyors look into would be the market value. Sellers will say it’s this or that but you need to validate. By surveying and examining the asset up for sale, these professionals help buyers in ensuring that they are paying for the actual market value of the asset and not more.

They also come up with an estimate of ongoing costs. Many assets may appear affordable at first glance but if you look into its repair and maintenance costs, they become hefty in the long run which isn’t good because that spells costs over a prolonged period.

Moreover, they will run a full and comprehensive examination of the asset. They will inspect upon the actual state and condition of the land and the building, the safety and security features of the property and the neighborhood it’s in. In fact, they can also look into the materials used in its construction, its previous uses and prior owners.

Chartered surveyors can also do so much more than help you buy a commercial property for sale London. They can likewise give advice about possible improvements, expansions and upgrades that can be done to the asset, the limitations to construction, land integrity and the like. They will also help you ensure that you are not building beyond the premises so we can all do away with the headache that disputes can bring.

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Pros to Leasing a Commercial Property Investment in UK

commercial-property-investment-ukDo you have a commercial property investment UK? Are you planning or at least considering leasing it out? If your answer to both questions is a resounding yes then you’ve come to the right place.

We’re giving you a rundown on the various perks and advantages to renting out your investment. Take a look and see for yourself.

  • It provides a steady income stream. – Monthly rental collections provide you with a good source of income. For many people, this gives them financial freedom. While others use leasing as a means to add more inflow to their pockets apart from their regular day jobs, others do it round the clock as their permanent source of living.
  • You retain ownership of the asset. – Renting out is different from selling despite of the fact that you’re not the one directly using or occupying the space. But what’s great about the former is that it allows you to retain ownership and the title to the asset all while earning income from it as mentioned previously.
  • You may choose to sell it later. – Since you retain ownership, you have all the liberty and discretion to sell the asset in the future should you wish to and should all contracts expire. You can do so for a profit too which is very attractive. Many investors go down this route when they find better investments to put their money and efforts on.
  • It helps with your taxes. – A good number of expenses that you incur for renting out the space can be considered as tax deductible thereby lowering the dues for you to pay. You’re going to ask a professional for this though because different areas and circumstances will reveal different allowable deductions.
  • It pays for your mortgage or loan. – The steady stream of rent income you earn can be used to pay off the mortgage or loan you took out to acquire the property. In essence, you’re not taking out resources from your pocket anymore which is a good thing.

Leasing out your commercial property investment in UK sure sounds like a good idea by now but you must also put into account the costs attributed to it and the work too. Make a cost-benefit analysis and weight things over. After all, it’s never going to be the same for everyone as varying sets of factors will lie ahead.


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