Although the entire working population has had to come to terms with changes which have been thrust upon us, and business in general is getting harder by the day, the general consensus in the UK from people who are in the same industry as me is that selling commercial property is no longer fun.

Transactions are taking longer to conclude, banks are still refusing to lend, although they are claiming they are open for business, tenants are still having problems paying their rent, property prices are still falling, the economy is trying but failing to recover from its 3 year hangover and the number of buyers is diminishing at an alarming rate.  So yes, selling commercial property is no longer fun. 

If ever you wanted to know what a buyer’s market is, then this is it.  However, instead of taking advantage of the opportunities on offer, buyers are reluctant to commit to most deals and see them through which is causing a wave of abortive transactions leaving sellers back at square one.  They then need to go back to the market to try to find another buyer which is not an easy thing to do.

To say selling commercial property is no longer fun is an understatement.  It is more appropriate to say it is at times impossible!  Therefore, if you have a buyer, who is willing to proceed, and the price is fair, bite their hand off as if you don’t, you may look back with regret.

To stay abreast of the latest commercial property market news, visit Jason Werth’s sell my commercial property blog