Guide to Buying Commercial Property in London
by: Shivani Gurtu-Louth |
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When buying commercial property in London, the first thing that needs to be considered is the location. Once the property has been bought, it is practically the only factor that cannot be altered; in the right circumstances, lease terms, the state of the building and even the tenant can be changed, but the location remains a constant, so its consideration must be paramount.
This is where it is prudent to consider the services of a good commercial estate agent in the capital. They will have constantly updated lists of commercial property in London and a working knowledge of the areas in which they are situated. These lists also take into consideration local amenities, such as shops, schools and public transport networks.
Knowing where popular university campuses may be of assistance, should you consider buying commercial property in London for businesses serving the student population, or knowing of future developments that will attract professionals to the area. This insider-knowledge can help to ascertain whether a property will be attractive to tenants or not: an office space may meet certain criteria, but if the agent knows that the local underground system will be closed for 18 months, it may be prudent to look elsewhere. A good commercial estate agent in London will also have some idea of developing commercial property hotspots and be able to give you advanced notice on their upcoming availability.
Physically finding and inspecting commercial property in London can be an arduous and frustrating task. Handing this chore over to a commercial property estate agent means that they can filter out unsuitable properties, according to the criteria that you have set them. This way, you need only inspect the ‘cream of the crop’ and not have to waste time sourcing commercial property in London that is inappropriate or has already been sold.
There is no doubt that buying commercial property in London can offer high returns and act as a great investment for the future. However, in such a developing market, it may be wise to employ the services of an experienced firm of specialist professionals to ensure that you make the right choice at the right time.
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About the Author
Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property agents in London to exclusively represent tenants looking for office space and commercial property in London to rent. Our aim is to secure the best commercial property at the best price.
For interviews, quotes, images or comments contact:
Shivani Gurtu-Louth
Devono Operations Manager
Tel(DDI): +44 (0)20 7096 9911
E-mail: sg@devono.com
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