Commercial Estate Agents In London – Financing Your Commercial Property
Commercial estate agents in London work to help businesses buy and lease commercial spaces, helping growing businesses to fly. Buying commercial property in London is not the norm, with most businesses leasing. If you do choose to buy a commercial property, what financing options are open to your business?
Commercial estate agents London wide will be able to advise you on the best way forward when it comes to financing your property. Before looking at your financing options, they will help you to consider the type of property best suited to your operational needs and the ideal location. Then it is likely that you will need a commercial mortgage to finance this, unless your business has large cash reserves. A commercial mortgage is similar to a home mortgage in that you commit for a minimum term, around 15 years, and a substantial deposit. As with any mortgage application, when buying commercial property, you should arrange for a survey to be carried out to. The survey assesses the value of the property, its condition and its investment value. It also takes into account the current commercial property market. You should also plan for additional costs such as surveyor and solicitor fees, Stamp Duty and VAT (which you may be able to reclaim). There may also be set up costs such as renovations, decorating, office furniture and equipment, removal costs and IT set up fees. You should also plan for ongoing costs such as insurance, maintenance, running costs and Business Rates. Talk to estate agents London wide about these issues as you start your property search.
At Next Property, we are commercial estate agents in London. We help businesses take the next step as they buy commercial property. Whether you are looking for office space, an industrial unit or a shop, we have the right property for you. Visit us online at http://www.nextproperty.co.uk/ to see our current range of properties.