Choosing to buy commercial property in the UK is a big decision; Here are some helpful tips to ensure that you don’t make a costly mistake.
1. Choose a Special Commercial Area Agent
Anyone who is really ready to buy commercial real estate in the UK should make sure that a specialist real estate agent is selected. It is not advisable to go to an agency which is a one-stop shop for real estate, selling residential, commercial and even international properties. You’ll get a much better level of service and a wealth of experience from an established real estate agency that specializes solely in offering commercial properties for purchase.
2. How Many Commercial Property Lists in Your Part of the UK?
Do your research; find out the best location to buy commercial property. Often you will find that certain areas will have a high density of commercial real estate for sale, be careful with the pockets so you don’t buy tickets on a sinking ship. While it may sometimes cost you more money, make it your mission to find areas where a company like yours has a proven track record of doing well.
3. Always Do a Thorough Check Before You Buy Commercial Real Estate
To ensure that you do not make mistakes in your commercial real estate transactions, you should ensure that you do a thorough inspection of the offices for sale or rent. Many people feel that a thorough inspection is not necessary as they will not be staying there, this could not be further from the truth, as this is a business premises inspection, it is just as wise to thoroughly inspect a residential property.
4. Are You Buying Rural or Urban Commercial Property?
The type of development in which you buy commercial real estate is very important, for example if you are in a rural setting then you will be looking for very different features than if you are looking for a warehouse for sale in an urban setting. Another thing to consider if you are in a rural setting is the cost, you can expect to pay less to be in a less developed area but if you are in a more developed district, especially retail stores for sale or rent within your city center can expect to pay a premium.
5. Would you buy this Commercial Property for Release?
It is also important to consider whether you will be buying commercial property in the UK for your company to actually move, or whether you will be renting it out to someone else. If your goal is to own commercial property to let go, then don’t get hung up on what you want to see when buying commercial real estate, but find out what the widest possible market is looking for in commercial properties for rent and get something that fits that description.
Ian Clark is a real estate consultant and advisor in the UK. He has extensive experience in all aspects of Real Estate Investment built over 20 years. He is also the Director of Midas Estates, an online real estate website offering property investment opportunities in the UK and abroad. Midas Estates is a property investment company which also deals with the sale and Purchase of Commercial Properties with the aim of providing maximum capital growth for clients as most clients seek financial security in the shortest possible time. Ian’s candid presentation of the real estate investing business, including the advantages and risks is respected for his genuine and honest approach. He is highly regarded as one of the most reliable and dependable sources for the specifics behind the sometimes complex and urgent aspects of real estate investing.