Commercial Premises Market Signals a Sell
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Commercial premises is a broad term that covers a variety of properties undertaking many diverse activities. This market is conventionally broken down into three groups related to the activities undertaken in the property in question. The retail sector covers everything from small village shops, through to High Street stores, onto supermarkets and out of town retail parks. The office sector ranges again from small, adapted residential premises, to small office buildings to larger business parks- these can be used by both private and governmental organisations. The industrial segment is made up of all of those commercial premises utilised for manufacturing, processing, engineering, storage and distribution - once again across a range of scales.
The market for commercial premises, despite being so diverse, has followed a similar path over the last few years- the boom of the mid 2000's followed by a crash associated with the shock withdrawal of credit during the credit crisis 2007-8, followed by a hesitant recovery over the last year. Ask many of those involved in the commercial premises market about current conditions, and they will reply with one word - "tough".
Looking to the analysts, the latest IPF Forecast report is pretty negative, with an expectation of another fall in commercial premises values especially in the retail sector. Given that we may now be at a local peak in commercial premises price, could it be an opportune time to close out your interest in your commercial premises, and realise your gains? And if so, what route will most quickly get you a sale?
The local commercial property estate agent (or even national franchise) is a familiar route for many commercial premises owners. They may often have good local market knowledge and the best of them can indeed be competent and well connected middle men. However the drawbacks are pretty familiar too - commercial estate agents extract high fees for their services, and involve a drawn out sales process, onerous premise and just the occasional sense that their interest does not align wholly with yours.
Another road well travelled, but usually only as a last resort, is the commercial auction house. This may enable you to get hold of money quickly for your commercial premises, but a fair market price can be unlikely if you are desperate to sell. Plus you will still have to pay commission and fees.
Of course, if you have the time, and access to good commercial listings, you may be able to find a private buyer yourself. But in today's market, there may well be neither the time, nor indeed the buyers to make that a realistic option. Private buyers are often very much beholden to their ability to raise capital - with the current credit shortages persisting the individual private investor is likely to be thin on the ground.
There is another route that could be just what is needed in the current commercial premises market. SellMyCommercialProperty are a commercial property investment company with access to substantial lines of finance. We are looking for commercial premises to buy as part of our investment strategy. We can make initial valuations within 48 hours, if speed is of the essence, and can then agree to a sale quickly. You will get a fair market price, devoid of agency fees, and without the hassle of middle men. So get in touch with SellMyCommercialProperty and we will help you convert your commercial premises into an opportunity realised.
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