The commercial sector is segmented into 5 sectors – Offices, Industrial, Retail, Leisure, Healthcare – We sell them all.
Vacant – A vacant sale is swift and straightforward. Along with all the property details, it is in the buyer’s interest to learn when the premises were last let, what was it trading as and the rental it was achieving. The more details provided the more insight any potential buyer will have before conducting their own due diligence.
Let or Multi-Let Property – With tenants on an existing lease, we will market the premises with transparency. The first question will always be, “what is the gross income?” This will be followed by details such as lease length, trading details and individual incomes if it is a multi-let premises. Selling this type of commercial property also has the benefit of providing the new buyer immediate income.
Multi-use Premises – This type of property would consist of commercial and residential units over one asset. If vacant, it is in the buyer’s interest to learn when the premises were last let, what was it trading as and the rental it was achieving. If let, the buyer will be looking for the gross income along with the lease lengths, trading details and AST agreement for the residential let.
Vacant Commercial Buildings
Let Commercial Buildings
Option agreements are a contract between the landowner and developer. They essentially allow the developer an option to purchase the land by exercising the right at any time during an agreed ‘option period’ in return for an ‘option fee’.
When the seller accepts an offer on a conditional basis, a deposit is usually paid. The amount will be dependent on what you, as the seller are happy with but usually is around the 5% mark.
The terms of this contract will define the following:
If the seller accepts an offer on an un-conditional basis an option agreement is not needed. An un-conditional sale is generally quicker than a conditional sale.
There are two main conditions which are included in the option agreement:
If the buyer cannot achieve the required outcome within the time frame of the option agreement or the number of units needed, the buyer may not proceed, therefore forfeiting their deposit.