Do you want to be able to keep an eye on the building or will you appoint a Managing Agent?
Retail, office, industrial, leisure – budget may dictate this or maybe the return will?
What yield are you looking for – as low as 5% for a national tenant on a 15 year lease or an independent retailer in a small tertiary shop 10%+ on a short term 3 year lease?
Do you want steady, low risk income, then you need a strong covenant as the tenant. Are you happy to asset manage by surrendering a commercial lease where upper parts are not in use and you then convert this to residential?
Whilst we may be viewed as biased we feel commercial property returns are well above interest earnt on money in the bank and are an investment well worth making.
An Estate Agent will give a price they anticipate a buyer would pay for your property given current market conditions. This is not an exact science and therefore established local agents who know the market – are worth their weight in gold.
Things to consider when you are looking for your first commercial property.
Things to consider when letting your commercial property, if this is not for you then our property management department would be delighted to help.