7 September 2017

The trials and tribulations of commercial property

Whether you are taking on a lease for the first time or acquiring your umpteenth multi-million pound investment there is a unique buzz surrounding commercial property. However the old adage, “buyer beware” is ever lurking to trip you up and it is important to seek the best advice throughout the various stages of a commercial property transaction.

You only have to cast your eye down the Rich List or over the latest property article in your local newspaper, to see there is a lot of money to be made in commercial property. A lot of money, if you get it right. Unfortunately, the flip side to this potential lucrative return is the risk. The risk of not fully understanding your liabilities or the potential pitfalls. Of course these risks can be mitigated, but only if you know about them.

Commercial property is by no means difficult, it is just that people are less familiar with it than the residential side of the asset class. Just make sure you question yourself at each step. Do I need a building survey? Is there a benefit of a schedule of condition? What does FRI stand for? Should I allow a tenant to be in the Act? What is the difference between rateable value and rates payable? Who will pay me the most for my 10 acre plot? Is this shop really worth £75,000 or is this office block really worth £4.5m?

Hunt Commercial are an independent surveying firm with over 75 years' experience specialising in commercial property agency and building surveying. We provide professional, in-depth, quality advice to developers, investors, landlords and tenants.

The commercial property agency team offer shops, offices, industrial units and investments for sale or to let in Eastbourne, Hastings and East Sussex.

Our building surveying team offers a wide range of commercial property services. We specialise in Schedules of Dilapidation and Condition, building surveys, insurance claims, reinstatement valuations, project management, planning applications including change of use and building regulations. Please contact the team on 01323 700100 (Eastbourne) or 01424 404004 (Hastings).