Advertising Commercial Property for Sale in London
It may surprise you to know there's a rather buoyant market for freehold commercial property for sale in London. Commercial property rentals attract high yield returns, specifically sought after by big fund investment outfits and property entrepreneurs.
When deciding to sell a slice of your commercial property portfolio, ensure you consider where to best advertise the premises. From small freehold shop premises under 250K, to more expensive properties, you will benefit from getting professional advice right from the outset.
Advertising the Unique Benefits of a Commercial Property in London
Firstly, consider if your property contains an existing business, if you are eligible to sell the premises with an extra price attached for goodwill. Similarly, empty premises will attract buyers based on the condition of the property, amenities, and utilities. Nearby businesses can have an impact on the price for sale - if the footfall in the area suits many start-ups or established chains - your asking price can rise again.
Researching Recent Commercial Property Sales
Many property websites now have commercial listings. You can use the free metrics on these sites to get some idea of the value of your commercial property, how the property has increased or decreased over some years, and the details of any previous sales of the property. When advertising commercial property for sale in London, you must have some idea what your property is worth, before you seek out a property agent. It is one of the first questions they'll ask you.
Getting the Right Advice when Advertising a Property
A professional commercial real-estate agent will tell you the likely sale price for your property and forecast how long it will take to complete. The speed of selling-to-sale may be faster than you anticipated, as London freehold and leasehold commercial properties attract a lot of interest - particularly if well advertised. You may not get as far as formally listing the property, if you secure a recommended buyer off the agent's client list.
If advised to advertise the property, make sure to take full advantage of the internal advertising systems on offer at your commercial agency. Most have online sites where you can display several photographs of the property, and write a detailed description. The more information you have, on hand, about the condition of the property, and what kind of business enterprise is suited to the location, the better a chance you have of attracting a browsing buyer.
Advertising and Contracts
Eventually, a buyer will respond to your advertisement and may want to speak with you directly. It is important, if you have delegated the task of placing the advertisement, that you are sharp on the details. A 'hot' buyer will be asking about the contract, environment reports, scheduled maintenance, business rates that apply, or even the bin collection times. You must be prepared for additional questions after the initial attraction of your advertisement.
Money-Back on Advertising Commercial Property for Sale in London
It may have been some time since you advertised a commercial property. Make sure you cancel all subscriptions, renewals, and paid-for advertisement streams when you've sold the property. This sounds obvious, however new social media advertising, in particular, can quickly add to your advertising and marketing bill.
Finally, remember when advertising a commercial property for sale in London, to research similar properties first, prepare detailed information for your agent (if using one), and display photographs with descriptions for online property sites.