Commercial Estate Agents East Croydon

Allen Heritage – Your Trusted Commercial Estate Agents in East Croydon

How to Buy a Commercial Property

Commercial property includes everything from offices and retail shops, to supermarkets, shopping centres, factories, warehouses and cinemas, petrol stations, hotels and health clubs. A commercial property can be a sound alternative to buying a home for those who want to own property, but how do you go about buying commercial property? That’s what we’re here to talk about in this brief guide.

Numbers that make a difference

%

Of clients leave a 5 Star Google Review

Top Selling Agent in the Shirley area

The average years our staff have been with us

Years successfully selling and letting property

The 5 Steps Involved in Buying a Commercial Property

While things are likely to vary somewhat from situation to situation as a general rule the process of commercial property acquisition involves the following 5 steps.

Step 1: Find a property that interests you

The first step in buying a commercial property entails finding the right one for you. If you do not have a business you intend to move into the new property then you will have a lot more choices. In any event, it’s important that you involve an experienced commercial estate agent at the start of the process.

Step 2: Determine how much it will cost to buy the property you have in mind

Besides the sale price you will be responsible for the Stamp Duty Land Tax, VAT, commercial mortgage related fees, the cost of fitting the space out with the latest IT hookups, the cost of a solicitor and more.

Step 3: Make an offer

Now it’s time to make a written offer on the property you have in mind. If your offer is refused, consider negotiating with the owner’s representative to reach a mutually acceptable price. Assuming you are able to agree on a price, ask the owner’s commercial estate agent to take the property off the market.

Step 4: Secure a commercial mortgage

You will have a variety of lending sources to choose from and the experts at Allen Heritage can advise you on the best options for your situation. Be aware that the lending institution is likely to ask to see a business plan, a mortgage repayment plan, bank statements and more.

Step 5: Exchange contracts and complete the deal

At this point, you will need to hire a solicitor to help you draft a purchase agreement. Once the agreement has been accepted by both parties you can proceed with the purchase.

The Expert Assistance You Need: Allen Heritage

The entire process of buying a commercial property will go smoother and faster if you enlist the help of the team at Allen Heritage. Give us a call today on 020 8777 3000.

Free Vendors Guide

Thinking of moving? Start with a valuation.

Book your free expert valuation for accurate guidance — or get an instant online estimate in seconds if you are just exploring.

EXPERT VALUATION

INSTANT VALUATION