Since the crash of 2007-08, commercial property London has undergone not one but two dramatic reversals of fortune. Prices were down some 40 percent – 50 percent in some areas – and have since bounced back due to a bottleneck of new development. Meanwhile yields have adjusted accordingly, and the ebb and flow of empty space has had its own effects on rents. The result is that if you are looking for shops to rent in north london, vs a shop for sale in London, there are many different opportunities available and your decision will rest on a number of factors – not least what your long-term goals are.
The complexity of the situation means that it is advisable to talk to a trusted independent financial adviser or accountant, as well as a good estate agent. Now may be a good time to buy in certain locations; however, if you do not have the money to do so then you will need to look at other alternatives. The comparative weakness of the pound not so long ago has meant that foreign money (much of it from the Middle East) has been pouring in and prices have risen.
Obviously location is key to the success of your business if you occupy certain sectors such as retail. In other instances you might afford to be off the beaten path a little. Another factor is if you intend to turn landlord yourself. If you are letting or subletting part of your own premises then this adds an extra dimension to your business plan and the potential viability of your accounts. Indeed, in the short-term this might be a good way to make ends meet while you wait for the market and business in general to pick up.
When it comes to commercial property, London has a vast range of choice in every sector – and, of course, you are spoilt for choice for location. But shops to rent in north london are a very different prospect to industrial property, office space or residential in other parts of the capital. Thus if you are looking for a shop for sale in London, or to rent, or another form of commercial property, this only underscores the importance of a strong business plan. Economic constraints mean that this will, in any case, be a vital strand of any loan application. However, whereas in the past you may have managed without one, it is now extremely unwise to skimp in this respect.
Please visit https://www.claridges-commercial.co.uk for further information about this topic.