Start from what the property has to do
Commercial property is bought for two quite different reasons, and conflating them is the most common and most expensive mistake we see.
If you are going to run a business from the unit, what matters is footfall at the right time of day, the frontage, parking, loading access, the neighbouring tenants and whether your specific use is permitted. If you are buying for rental income, what matters is the quality of the covenant, how long a tenant is likely to stay, how easily the unit re-lets if they leave, and what the realistic void period looks like.
A unit can be excellent on one measure and poor on the other. Tell us which one you are solving for and the shortlist changes completely.
What to verify on a commercial unit
- The sanctioned land use and whether your intended activity is permitted on it.
- Whether the unit is in an authority-allotted commercial scheme or part of a private development, since the transfer process differs.
- Any outstanding lease rent, maintenance or authority dues attached to the unit.
- The actual carpet area against what is being quoted, and how the super area has been calculated.
- Parking allocation in writing, which is a frequent source of dispute in multi-unit commercial buildings.
- For a tenanted unit, the lease deed, the rent escalation terms, the lock-in and the security deposit.
- Fire clearance and completion certificate status for the building.
Formats we work across
- Retail shops in sector markets and in developed commercial complexes.
- Showrooms with road frontage.
- Office space, from single cabins to whole floors.
- Standalone commercial buildings, including fully tenanted ones.
- Commercial plots for an occupier who wants to build to their own specification.