Firstly, separate the property from any Business sale, it may seem easier to sell in all one go but it won’t realise you the best price.
Then separately sell the property on a sale and lease back, if indeed you wish to sell it.
Not just from a property perspective, but the Business sale will be opened up to a much wider market, increase exposure to get a higher price from a larger pool of buyers
Equally it is important to maintain your entrepreneurial tax position, and we can recommend accountants to be able to guide you on this.
Top tips
• Planning consent – ensure it is correct before starting marketing (see commercial usage types)
• Potential breakup – consider if there is a way to make multiple units – smaller units receive higher rate / sq ft, and would give a greater return
• Development potential – if you believe there is an option for an alternative use that may yield a higher price
• Presentation – ensure it is presented properly eg with commercial – big clear spaces, light walls, grey floors help, so companies can envisage how they will use the space, if covered in historic mezzanines and ‘rabbit warren’s’ of offices , its hard to see the potential
• Timing – dependant on what you are selling some markets for owner occupier premises are robust, multi occupancy investor sites may need more consideration dependant on the economic climate
• Tennant covenant – a higher profile tenant will help the yield
• Marketing – get maximum exposure with a full campaign – to typically run for 6 months across all the mediums available, at The Business Board we market to a wider audience though our direct marketing approach to the target markets and the investor list of pensions funds , Family trusts and overseas buyers
If you would like to speak to us about your own properties or to explore options, please email us at: info@thebusinessboard.co.uk or call our office number on 0118 338 1818.
We look forward to speaking with you.
[/cs_text][/cs_column][/cs_row][/cs_section][/cs_content]
