How to gain a commercial property advantage
If you are looking for commercial property in London, it can pay to call on a specialist estate agent with in-depth knowledge of the local market
When it comes to buying commercial property in London the stakes have never been higher. Businesses have invested £38.4bn in London premises during the first seven months of 2015 alone –£8bn more than the same period 12 months previously.
That is why West End estate agents and property professionals in other parts of the capital where competition for commercial premises is intense are being called on to share their inside knowledge of the local market.
Why use a specialist estate agent?
There are two principal reasons for choosing an estate agent that has hyper-local knowledge rather than a larger operation that markets commercial property in all parts of the country:
1 They understanding your needs and requirements
It is vital that you know exactly what you want and what is most likely to suit your individual needs. That might sound almost too obvious a statement to make, but you may be surprised how off-target your aim might be and the extent to which a specialist estate agent – with knowledge of the area’s commercial capabilities – may help you get back on track.
Not only that, the specialist estate agent is able to deliver service with a personal touch, oriented towards you as a client with distinct individual requirements, for whom a carefully tailored approach is necessary.
This is the type of approach adopted by Paramount Properties, which operates in the West Hampstead and Highgate areas of London and whose clients use their knowledge of the area to identify the best sites for a business.
2 They understanding the market
Every London borough has a different type of market. Local estate agents have an in-depth knowledge of their area’s demographics, property types and transport links.
When buying commercial property, it’s not just a question of knowing which premises are currently up for sale, but your local agent will know which represent a sound investment and which might be best avoided;
In reaching these conclusions, the specialist estate agent has access to details of other sales in the same area in the recent past – and understands exactly what helped or hindered the sale of each of them;
The specialist’s local knowledge may pay dividends in many ways which make investment in commercial property a wise move – factors such as the availability of skilled and unskilled labour in the area, and whether suppliers and a potential customer base are on the doorstep or easily accessible.
If you are looking for commercial property in London, it is important to remember that every district and every area is very different – with unique strengths and weaknesses as far as purchase, investment or sale is concerned. It is these very differences, and the qualities that make a particular neighbourhood special, that provide every reason for your going to a specialist commercial property agent.