Sell My Office | Where and How To Get the Most from Your Sale
What's it werth?
Find out what's really going on in the Commercial Property Space with Jason Werth, our MD and Commercial Property expert.
Read Jason's views on:
- The current Commercial Property market
- Future property values
- Market trends and reports
- Sector & Geographical analysis
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In order to get a good idea of whether you should be asking "should I sell my office", you need to get a firm feel for what the market has in store for premises similar to yours. Are we taking the first steps for a sustainable path to growth, or is the ground about to fall away beneath our feet again? Sadly, there is much in economic tea leaves which indicate the latter - we may be heading towards another falling market for office property - and a cry to 'sell my office' may indeed be apt.
As an example, King Sturge saw "...the level of enquiries for office space fell by 12% quarter-on-quarter in the three months to the end of June". And according to the Investment Property Databank's Business Parks Index 2010, they observe that the value of out of town offices fell by 4.1% last year.
So why the slew of negative moves in the office property market, pushing the argument to 'sell my office'? The fundamentals do, unfortunately, appear pre-disposed to a weakening market, with available office space persistently higher than demand. Then, there is the likelihood of further falls in demand, with the recent announcements in the Budget of sharp governmental spending cuts. Because 20% of UK office space is held by government related business, those cutbacks will push vacancy rates up, and so soften prices.
The overall economic prospects have also darkened of late - the dreaded double dip recession has moved closer, due to the triple impact of tax rises, a reduced fiscal stimulus and bank lending that refuses to push up significantly. Subdued economic activity from these factors can only reduce demand for office property, and make the option to sell my office more attractive.
This all means sellers of office space are searching for the safest way to dispose of their assets, whilst maintaining their values. The business property agent may seem a good option to sell my office, but where will they be sourcing their buyers from? Genuine market participants are thin on the ground. So it's not unknown, these days, for property agents to have in-house buyers, to whom good opportunities are streamed. The agents get a second fee, the favoured buyer acquires an asset at a fantastic value - and you lose a big slice of your investment capital. What other routes then to your desire to 'sell my office'?
There is always the last resort of the seller- the auction house. But you will be pre-committing yourself to another big loss of value that way, so it probably should remain the last throw of the desperate owner.
But why not try a buyer of first resort instead - SellMyCommercialProperty. We can cut out the middle men, the fees and the hassle - and will buy from you direct. SellMyCommercialProperty are an investment company, with access to considerable finance. We want to place our funds into the office segment- that includes individual offices, large offices, office complex, or small offices.
SellMyCommercialProperty can move fast with our professional valuation team then a sales agreement can be arranged at a fair market value to you. So get in touch with us at SellMyCommercialProperty today, and let us help stop your fretting about how to sell my office- it can be bought about much sooner than you might think possible.
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