The last month has been a particularly short one from a business perspective and a combination of Easter, fine weather and the royal wedding have reduced the number of working days in the month to something like ten with many people taking two weeks’ break from work.
There was an interesting article in last week’s Sunday Times about the spike in interest from buyers in properties with incomes. We have seen that activity too although the article went on to say that buyers were very focused on the profit figures and were not tempted to over-pay even in a competitive bid situation. I would completely agree with that analysis. If you are selling a freehold business then I do think that you need to look carefully at your asking price alongside your profit stream and ask yourself if that profit can support the size of mortgage required to buy your property. I or any of my colleagues at Amberglobe would be happy to discuss this with you.
I do get the strong feeling that the market is improving and that if the weather remains fine then consumer confidence will increase. This does not mean though that I foresee prices rising any time soon but rather that more buyers will enter the market, more transactions will happen and there will be more money sloshing around as a result of house sales freeing up.
I should also mention that there are noises being made in government that the rules about Energy Performance Certificates are about to be tightened up and that all commercial properties for sale or lease will be required to have EPCs in place before being marketed for sale. Frankly this is the last thing we all need and I do appreciate that having to pay for an EPC prior to a sale being agreed is particularly annoying. In anticipation of these changes we have negotiated a staggered payment system with a number of independent EPC providers who will accept payment over a number of months. This will hopefully significantly ease the cashflow burden on you and of course your EPCs will be valid for ten years. If you would like to discuss this or arrange for a quote then please contact us.
http://www.amberglobe.co.uk/
