Sep 21st 2017, 12:53
Commercial Property transactions relate to a wide variety of acquisitions, sales and development opportunities involving shops, hotels, pubs, restaurants, land development and much more.
At Bendles, our Commercial Team deals with a diverse range of clients from private investors to business owners and offer the expertise and guidance required to make the most of the opportunities presented by the commercial market.
Due to the fact that most savings accounts are currently offering negligible interest rates on balances, increasing numbers of people are looking at new ways to make their money work for them, with investment in property being an extremely popular option.
Investment in commercial property in particular often offers investors an opportunity for potentially high returns with the possibility of fewer management responsibilities when compared with residential property, making it a very attractive proposition. When renting out commercial properties, the tenant usually bears a greater deal of the maintenance duties, allowing the owner to rent out the property with fewer worries than they may have were they renting out a residential property.
The record-low mortgage rates also mean that it is now more affordable for growing businesses to expand into more suitable premises, in order to meet the needs of their business and keep up with their expansion. Conversely, if a business is downsizing, outsourcing an aspect of their business or attempting to streamline their operations and has a surplus of space which they may no longer require, moving into more appropriately sized premises has a number of benefits, including reduced running costs, a reduction in the amount of business rates payable and the release of any equity held in the larger property.
Whether you are new to commercial property, an experienced investor looking for new ways to expand your portfolio, or an established business looking into the possibility of a move to new premises, getting the advice and guidance you need early in the process is vital to ensure that you know exactly what you’re becoming involved in, and that you get the property or deal that’s right for you.
If you currently own commercial property and are now looking into marketing the property with a view to selling or leasing the property out, Bendles is able to offer essential advice to ensure that you are aware of all implications of the transaction, and know exactly what you are allowing on your property. With the increasing number of new investors entering the commercial market creating healthy competition for marketed properties, selecting the right time to market your property, and choosing the offer which is of most benefit to you can have a big impact on the potential profitability of any transaction.
When purchasing, selling or renting out Commercial Property, it is extremely important to avoid ambiguity and eliminate any confusion around the terms of the deal. Experienced investors may understand the terminology of an agreement, however if there is the slightest confusion there is always the possibility that a dispute will arise in the future, and potentially eat into any profits made from a sale, or decrease the value of the property for future transactions.
If you should have any queries regarding any aspect of Commercial Property, please do not hesitate to contact Bendles LLP.