Monday 19 August 2013

Getting The Most Out Of Commercial Properties

Commercial Properties
Vacancy rates in the commercial sector paint a worrying picture. In 2012, four per cent of commercial and industrial properties in the UK were vacant, according to figures by Jones Lang LaSalle. London suffered the worst, with vacancy rates of 7.2 per cent. Therefore, it is important that once you buy a property, you get both the right deal and then you make the most out of your assets.

Deal or no deal

The pile of vacant properties across the UK are, in most cases, the result of bad investment decisions. It is therefore important that you make sure you are always getting the best deal possible when buying.

With such a variety of lenders available on the market, you should always be doing your research fully and shopping around when it comes to commercial mortgages, just like you would do so with a residential loan. A clear distinction between business and commercial investment mortgages has to be made here, the former for those looking to buy premises for their own operations, and the latter for those wanting to lease out commercial property for other businesses. Consider your options carefully as this finance is what will initially make or break your business plan.

Supply and demand

A recent report by Cushman & Wakefield has suggested that leasing activity of commercial property in central London rose dramatically in 2013, primarily fuelled by industry fears that supply levels may be diminishing in the capital city. In the first half of the year, just over 4.5 million sq ft has been let in the area, a 33 per cent rise from the 3.4 million sq ft let within the same period in 2012.

With so many firms snapping up properties quickly, the market is becoming more polarised with vacant spots and quick take-up, meaning that investment decisions needs to be made more wisely. When choosing your properties, various factors need to be considered such as location, amenities, facilities, and potential business growth in the future. Great sites such as PropertySales are a perfect resource to pick the right spot.

Getting your business up-and-running

Finding your initial customers is vital when launching your business. Not only will they offer the beginning of a revenue stream, but they will legitimise your product, suggesting if there even is a market for what you are selling. By offering your firm feedback, they can also help you to fine-tune your business plan in the first stages before more customers come in. Achieving a customer base is dependent on your individual industry, but you should make the most out of your contacts and their networks. Whether it is employees, civic contacts or even tradespeople, you can bring them in through special rates, discounts and consultations.

Strike the right deal and get your business running on the right foot. To avoid being "that" business that goes under and leaves your commercial property vacant, business strategy is key. Set yourself both short and long-term goals, with a variety of objectives to determine how you will achieve these.

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