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  • Commercial Property

    Advertising for commercial tenants?

    Hi

    My tenants takeaway business has failed and we have allowed him to surrender the lease but he will need to pay a 6 month premium to do so. 

    I am now looking at advertising the property for a new rental but want to do the advert privately to reduce costs rather than via an agent. Has anybody done this and and what are the best websites to advertise on.

    Thanks
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    Hi Steve

    Not a direct answer to your question, but I would just query writing off agents just because of fees. 

    A good local commercial agent may be quickly able to introduce somebody they already know is looking for such a unit.  I have years of agency experience but will always use a local agent to find me tenants. 

    I have just let an office using an agent who pretty well has a monopoly on the business park, but they have done a good deal which was worth paying for. 

    They have also spent time with the tyre kickers, those unable to proceed, those who really want something half the size, etc., etc. so I'm not wasting my time.  They have prepared sound heads of terms for the lawyers to get stuck into.

    Graham

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    Use a bespoke commercial agent to re let it. You may save yourself a few quid in the short term by finding your own tenant but who’s to say their covenant strength will be strong enough to honour the terms of the lease.

    The majority of commercial agents work on a no let no fee basis (maybe some small upfront disbursements - board etc). I would meet two or three local agents at the property and get their thoughts and thereafter instruct the one you feel will do the best job.

    Or you could instruct two and instruct them on a multi basis - whichever agent lets it gets the fee. They will then work hard to let it before the other. Where is subject property?
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                     Harvey Pearson - Lex Allan Chartered Surveyors

                            Commercial Property Advisor / Investor

    Gumtree is a good source of free adds for food outlets, just make sure you use a good  Commerical property solicitor. And get a rent deposit.
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    This might seem obvious but have been and visited any near by operators? I suspect that you would only need to mention it to 1 or 2 and you would soon have you next tenant.

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    £239 on upad commercial - very good deal

    straight onto rightmove etc

    https://www.upad.co.uk/commercial-listing


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    Chartered Accountant, FCA 34th year in public practice,

    BTL since 1992

    http://www.blythepropertyholdings.com