Who Will Buy Office Space From You Now That Lending Is So Tight?
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If you are looking for someone to buy office space that you have on the market, you may be wondering who, exactly, is out there snapping premises up? Because, whatever your estate agent may say, the phone calls from those looking to buy office space are likely to be thin on the ground right now. Office rents are falling, demand from occupiers are falling, companies occupying offices are going out of business leaving owners will vacant properties with rates to pay, loan interest payments to meet etc.
If this is indeed your experience, you are not alone - the office sector of the commercial property market has seen a distinct softening of late, with the latest Office Enquiry report (covering Q2 2010) from King Sturge stating that:
"The level of enquiries for office space fell by 12% quarter-on-quarter in the three months to the end of June"
This has left many of those in the office accommodation market casting around for a new approach to finding those out there to buy office space. So what exactly are your options?
The first port of call for those with office space for sale is the business property agent. These are the traditional partners for realising your office sale, leveraging their local market expertise. And indeed the best business property agents are well connected, knowledgeable and competent intermediaries.
But we have all had experience of the potential for delay, missed opportunities and high fees that estate agents can sometimes bring in their wake. Many commercial property estate agents typically extract a 1 to 2% commission fee for the privilege of matching you to those looking to buy office space from you.
Another option is the commercial property auction house. But, quite reasonably, that is often seen as only for those in urgent need of cash, and with no other options. The market value of your office property will suffer a sharp deprecation at auction, there will still be fees and commissions to pay, and you are not even guaranteed to find someone willing to buy your office space. Auctions do have their advantages but this is a very specialist field where true professional advice must be sought.
Private buyers can make sense, if you are well connected and able to fish out those with a serious commitment to buy office space from you. But as alluded to above, the office property sector is weakening, and there are fewer individuals out there with the funds, and outlook, to take your office off your hands.
But there is another option - cut out the middle men, the fees and the hassle - and let SellMyCommercialProperty offer to buy office space from you direct. SellMyCommercialProperty are an investment company with access to substantial lines of finance. We are looking to put those funds into the office property market now, and can move in quickly with our professional valuation team. A sales agreement can be arranged fast, at a fair market value, and with no agency fees or commissions.
If you were to get in touch with us at SellMyCommercialProperty now, we could have an initial assessment and valuation completed within 48 hours. The sale of your premises can be bought to fruition sooner than you might think possible. So make SellMyCommercialProperty your chosen partner to buy office space in these challenging times.
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