Conditions to Buying a Commercial Property

commercial space ukA commercial property is bought for two main reasons: either as a tool in operations or as the product itself. Businesses and organizations use it for offices and shops for example while investors and real estate companies or individuals do so to lease them out or resell them. But regardless of the purpose and the reason for the purchase, the conditions and rules to buying a commercial property remain the same as follows.

1st Condition: You must be financially capable. – Commercial assets are not cheap. That’s for sure. This makes it obvious that in order for you to buy one you must have the resources to do so. Timing is also important so the availability of funds must be considered as well. Also, don’t forget that there are more costs to such an acquisition that merely the property’s price tag.

2nd Condition: There has to be a valid reason behind it. – Buying a huge investment like this has to come with its purpose. Nobody does it on a whim or out of impulse. There is a reason behind it and such reason must be valid and practical.

3rd Condition: There must be ample space. – What’s the use of a commercial establishment if one can barely breathe and move in it? Also consider the furniture and other items that will be housed and placed within the space. An office will cease to be functional if people become restricted. Plus, customers hate cramped spaces.

4th Condition: Ongoing costs have to be on the minimal. – Ongoing costs pertain to repairs and maintenance expenses that are to be spent on the regular for owning the commercial property. They are necessary costs that must be spent in order to keep the place functional and standing. Some assets appear to be very affordable but have high ongoing costs making them far more expensive in the long run. Be careful, ask and examine.

5th Condition: It has to be conveniently located. – One of the biggest factors that investors and businesses need to consider when buying a commercial property is the location. It spells a lot in terms of value, appreciation, foot traffic, convenience and market reach among others. One of the important aspects to remember is that it has to be conveniently situated in such a way that employees, clients, suppliers and the public in general have easy access to and from it.

When buying a commercial property, remember to be smart, fast and reasonable. Good luck on your endeavors!

Notable Property Investment UK Locations

investment-property-ukWe are often told that in the world of real estate, location is king. Although we have to admit that there is more to buying an asset than just its location, we cannot discount its massive importance. Plus, the fact that it affects other factors that add and diminish value makes it a topic worth discussing. In the United Kingdom, for example, the same rule applies. Despite of the country’s notable and illustrious sites, there are a couple of notable property investment UK locations that scream ‘buy me’ to investors. Do you want to know where these are? Better read up to find out!

Manchester

A major city in the northwest of England, Manchester is known for its rich industrial heritage. Although the average price of properties in the area is nowhere near cheap, it is considered to be one of the most promising locations that are able to yield significant rental returns. This is highly attributed to its large student population. Moreover, the Metrolink tram service extension has made it all the more accessible.

Rotherham

A large town in South Yorkshire, Rotherham is known for its 15th century, Saxon and Norman sites and structures. Investment-wise, this makes it a charming area with enough tourism buzz. But more than that, Rotherham is a coal-mining town that houses more than £500 millions of investments and caters to over 9,000 jobs. With a railway station and a 12,000 seater football stadium under the works, the value of properties and the rental rates are bound to rise.

Oxford

Perhaps the most expensive investment location in our list, Oxford is located in central southern England and named as the ‘City of Dreaming Spires‘. It is most known for the 12th century university named after it. Just like the next location in this list, Oxford’s investment potential relies on its historic and educational charms that bring in the demand from tourists, students, young professionals and businesses.

Cambridge

Known for its notoriously popular educational institutions, Cambridge is dubbed as the ‘university city’ and is located along the River Cam and is about 80 km north of London. Census reports that about 20% of the population consists of students. Furthermore, about 40% of its residents are degree holders who work within the area thus continuously attracting software and scientific research companies. These alone make rental demands high.

Which among these notable property investment UK locations are you most interested in? If you haven’t decided, check out some options here www.singerviellesales.com.

Facts You Need to Know About Owning a Commercial Property

commercial propertyThere is more to owning and maintaining a commercial property than meets the eye. Whether you’re a business who uses such asset for operations, a seller or a landlord who puts them up for sale or lease, it takes more than just financial resources with these possessions. If you’re up for some straight up facts on the subject then we urge you to read on and discover. After all, knowledge is an important ingredient when it comes to commercial property investments.

Fact #1: Ongoing costs are a game changer. Specifically, these refer to repairs and maintenance expenses. They are necessary for the upkeep of the asset and in keeping it useful. They are regular and should be minimal otherwise the investment is going to be burdensome in the finance sector over the long run.

Fact #2: Foot traffic is as important as a good marketing strategy. Exposure is crucial especially to the general public whether they are already patrons or new customers. Plus, it’s free so it never hurts to choose a commercial property with high foot traffic.

Fact #3: Space is always of importance. Nobody wants a commercial asset that’s too cramped up. Movement is crucial when it comes to work. Plus, customers are not one to be happy about tight oxygen-deprived spaces especially come the holidays.

Fact #4: Structural quality over aesthetics any day. Interior design is important and even ergonomics. However, investors should pay more focus on the structural concept of the property as well as the quality of the land it has been built upon. Paint and décor are easy to work and navigate around. They are less costly too. Poor plumbing, damaged electric cables and damaged walls on the other hand are hard on the budget.

Fact #5: It pays to make things pop. We don’t mean this literally though. There’s no need to burst or pop anything, unless it’s a champagne bottle. Kidding aside, a commercial property should pop in the sense that it has to catch attention. Judging by its name, such asset is meant for business purposes and should therefore be inviting and interesting as much as it’s functional. Yes, structural integrity is important but don’t allow the place to look forlorn and untended for. One doesn’t need to break the bank too. There are simple ways to making an office or a shop beautiful without running toward bankruptcy.