Serious lack of commercial properties!

[nixnewcastle]

Hi geeks looking for a bit of advice on commercial properties.
We can't find a decent one anywhere!!
I've now been looking for over a year and there's been nothing came along without a crazy price tag attached to it.

Where did you find yours and how?

 

[MrsHBeauty]

I rent my dads shop as he bought a new bigger one at the other end of the high street. It's not decent but with work it'll be great. qe've spent a good amount doing it up and still have 2/3 to renovate! We will get there tho as it will add another 2 treatment rooms to my salon.

 

[Glamma]

I'm in the same boat as you. I have been looking for commercial properties for ages. I really want a property on the high street were I can take advantage of high footfall but landlords are asking crazy prices - £90,000+ pa!!!! In London the high street is dead for small businesses as landlords are asking unachievable rents for start out businesses.

Good luck with your search.

 

[nixnewcastle]

It's annoying the life out of me now. I need somewhere loads bigger now or I might just take on a 2nd one. I'd prefer to just have one big one though. Totally stuck with what to do now

I think the most important things for a salon is:
• they're in a decent area
• lots of free parking
• it doesn't cost crazy amount of rent (I'd prefer to buy though I think)
• and people can see that you're there

 

[MrsHBeauty]

I think buying is better aswell, especially if you have an established bussiness. My dads new shop he bought for £115k it was a repossesed property he spent £35k doing it up turned the top into a 3 bed flat bringing in £500 a month then he had a huge shop and large work shop. Its not on the highstreet but it is in a very busy road with the banks and post office. It was a great move for him.

 

[nixnewcastle]

The problem with buying commercial now though is that it's 20-30% deposits on them now for mortgages and the commercial in our area go for £300,000 booooo!
Just need an amazing opportunity to present itself

 

[MrsHBeauty]

wow, thats alot!

 

[souz]

i think you are better driving around areas where you want premises and keping an eye out rather than looking online etc or lookout for shops closing down xx

 

[taggyboy]

Not sure if you know about this site but I found it very useful when I was searching. I can't remember if they have freeholds though as was a while ago when I looked.

http://www.shopproperty.co.uk/images/home/headers/bg_looking_for_shop_to_let.jpg

 

[nixnewcastle]

Thanks taggy boy that website looks great! X

 

[Elaine143a]

Have you tried actually visiting premises you like (not beauty/hair businesses) and asking whether the existing tenants are thinking of vacating or moving? That's what happened to me in my salon. I was at the end of my lease, not quite knowing what to do next, and was literally approached by someone looking for premises in my parade! That made my decision much easier for me, as I didn't have to pay any delapidations or redecorate, as the new tenant wanted to completely renovate the premises anyway as it was a different venture, which also speeded up the whole legal process. The landlord initially refused this idea, but I just told him I could do the redecorations myself and then leave him with an empty shop, or he could agree with this and have a new tenant with a new lease within weeks. He saw sense and agreed. The whole process took about 12 weeks.

Hth xx

 

[taggyboy]

Thanks taggy boy that website looks great! X

Your welcome, I noticed that it's just a photo that I linked in, so hopefully you found the actual website ok.