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-   -   Anyone out there bought commercial property??? (https://www.scoobynet.com/non-scooby-related-4/509095-anyone-out-there-bought-commercial-property.html)

sunflowerkiss 19 April 2006 07:45 PM

Anyone out there bought commercial property???
 
Am just in the throws of exchanging contracts on an office block i have just bought and am sh!ting myself!! I know its the right thing to do but its gonna soooo cock up my cashflow. Words of reasurrance please needed:(

PG 19 April 2006 07:50 PM

:eek:
You don't wanna do that !!

Deep Singh 19 April 2006 07:51 PM

Is it occupied? Whats the return ( %) ? What kind of tenants?

sunflowerkiss 19 April 2006 08:00 PM

I have been renting office space for the past 7 years and did a MBO less than a year ago. My landlord has just put the rent up to £20k plus £2k maintance charge on a building that has wasps dropping out of the light fittings and the floor is moving!!!!! ( caught up in th Brum tornados last year). Have found an office for £320k, which in the long run is cheaper than paying rent!

sunflowerkiss 19 April 2006 08:21 PM

Thanx for your help

Luan Pra bang 19 April 2006 08:48 PM

JUst do it and get the bank to help if you need to extend your cash flow for a while. It is much better to own a freehold than to pay rent.

TopBanana 19 April 2006 08:54 PM


Originally Posted by Luan Pra bang
JUst do it and get the bank to help if you need to extend your cash flow for a while. It is much better to own a freehold than to pay rent.

Many a business has gone under following that thinking :nono:. It depends on the circumstances

Deep Singh 19 April 2006 09:01 PM

Difficult to say as TB says depending on situation. Saying that I'm still a firm believer that with well bought property you can't go wrong in the long run

MJW 19 April 2006 10:28 PM


Originally Posted by TopBanana
Many a business has gone under following that thinking :nono:. It depends on the circumstances

The easiest way is to form a seperate property company to buy the building, then rent it to your own firm.

richardg 20 April 2006 09:07 AM


Originally Posted by MJW
The easiest way is to form a seperate property company to buy the building, then rent it to your own firm.

that's what i'd do. know lots of people who have done exactly that and it works well for them


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