commercial property

aamadami

Hello everyone,

Need some advice regarding purchasing commercial property. I am quite new to this one and like to hear from people who has already purchased property as investment. I am looking at various commercial properties on rightmove for my research. Do you know any other places where they advertise it? Main purpose of getting commercial property is to purchase it and rent it out to someone. Has anyone does this?

I know it’s quite vague question but just wanted to know people’s experience.

Thank you.

JQ.

How long is a piece of string? Yes your question is too vague.

I certainly wouldn't be looking on Rightmove, I'm not aware any Commercial Agents advertise there, only Estate Agents dabbling in a bit of commercial. Try EGPropertylink as a starter.

princessamy86

Well, if you really are seriously considering this, you need to get clued up first and foremost. Are you absolutely clear on all the legal implications that will apply to you as landlord? What kind of return are you looking for? Will you be managing it yourself (please consider this carefully!) or will you be using an agent? What type of property are you looking to purchase and what businesses will be your target market? How will you finance it? What if you can't find a tenant? Do you know the costs involved in purchasing commercial property? Do you have a contingency fund for void periods and repairs? Etc etc etc.

ETA: Places to look for commercial property-commercial property surveyors, as previous poster said, EG propertylink, word of mouth, direct contact with owners of property, auctions

aamadami

thank you for your reply.
investing in the commercial property idea came in my mind only last month. I done some research but finding it bit confusing. I am not going to invest anything till I fully understand the process and workout everything. I didn't know where to look for the property. I have check the link you have send me and it is really useful. just wanted to hear from people who has already purchase shop/warehouse and wanted to hear their experience.