What To Consider When Viewing A Commercial Property To Purchase

Purchasing a commercial property in the UK can be a great investment opportunity. It can also be a brilliant strategic move for your business or property investments. Here at Burgh Thorpe Solicitors, our commercial property lawyers in Peterborough have helped people purchase a commercial property for a wide range of reasons.

We know that there are many important factors to consider when buying a commercial property. This is why we have put together this blog post. Our commercial property solicitors want to help you know what to consider when viewing a commercial property to purchase.

For example, the condition of the commercial property. It is important that you inspect the premises for any defects, damage or signs of disrepair. Look out for things that may need repairing or replacing. This will not only ensure you are prepared, but it will also be an influence in negotiations and budgeting for renovations.

You will need to look at the specifications of the commercial property too. Check the provisions for the technology you’ll need such as phone, internet and utility connections. Consider how the property is fitted out to. Will you need to install flooring, décor, fixtures and fittings?

It’s important that you check the accessibility to the commercial property. This is more dependent on the type of commercial property you are purchasing and your travel requirements. For example, do you need it to have good transport links, near to motorways, parking spaces and access for deliveries? Think about what you need and if the property meets these needs or could meet these needs.

Once again, dependent on your business, you might need to consider the location and passing footfall within the area. If you are a retail outfit or shop for example, footfall and passing trade is essential. However, if you need an office or warehouse, passing trade may not be as important.

Make sure you ask the agent about the flexibility of the commercial property. Can the space be reconfigured or adapted to support the plans for your business in the future? For example, could part of the space be expanded or divided to grow specific areas of the business? You should ask about the scope for expansion too. If your business grows is there adjoining units or space upstairs that could support the growth of your business.

Your agent will give you the required certification like an Energy Performance Certificate, also known as an EPC, as well as proof of building inspections. Our commercial property conveyancers can review these and other documents for you. We will ensure that you, your business and your commercial property is properly protected.

Call our commercial property solicitors in Peterborough now to see how we can help you with the purchase of your commercial property.