Commercial property buyers have a very good reason to be afraid – after all if your business was to buy and own commercial property where you are relying on your tenants, some of who are retailers, to survive in these difficult times and pay you rent, wouldn’t you be?
Over the past 6 weeks, we have seen the likes of Stead & Simpson, Comet, HMV, Jessops and Blockbuster fall into administration – and they are just the retailers!
Commercial property buyers and investors are treading very carefully indeed. Those who are buying are making very low offers, those to own properties are trying to sell and are happy to accept very low offers and generally very little activity can be seen.
The message is simple – if you own a commercial property, you should be thinking of selling before you too become a victim of this recession which shows no signs of abating.