Amateur commercial property hunters are wasting time and moneyMay 2023
Amateur commercial property hunters are costing their companies thousands of pounds a year when it comes to acquiring new business premises by not using a Chartered Surveyor to carry out the search and negotiate the terms, according to one of Worcestershire’s most experienced commercial property professionals.
John Dillon, Managing Director at Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon, says many organisations searching for business space in Worcestershire and along the M5 and A38 corridors believe they are saving money by looking for their own premises. But by not having an experienced local property professional acting for them, they are actually losing cash.
John says: ‘Finding the right commercial property isn’t easy, particularly at present when there is a record shortage of business accommodation. Manufacturing, warehousing and distribution space is in very short supply.
‘Some properties are openly on the market, but not easily identifiable from one source, and a great many are off market. Businesses may never be aware of the entire choice, or believe, wrongly, that the type of premises for which they are searching does not exist.
‘For businesses looking to acquire new manufacturing and distribution premises, especially between 15,000 sq ft and 50,000 sq ft, the choice can be extremely limited. This is where agents’ contacts and knowledge can be particularly valuable in identifying and securing new properties before they come to the market’ continues John, who has more than 25 years’ experience of the Worcestershire and wider West Midlands’ commercial property market.
‘For organisations looking to rent existing premises, there is a common misconception that agents can only help to negotiate the cost of the lease, and it is possible for any business person to negotiate the rent down. But they do not know, because they do not work in the property market day in day out, just how much of a reduction they can negotiate.
‘They also forget that rent makes up only around 60% of their total property costs and a good acquisition surveyor can help with an occupier’s occupational costs too. They can also deal with issues such as lease length, break clauses, alienation (the ability to assign or sub-let) and other contractual terms.
‘So, if you’re looking for property for your business, the question should not be can you afford to pay a professional local acquisition surveyor to advise you, but can you afford not to?’ concludes John
GJS Dillon offers a specialist Business Relocation Service for organisations looking for industrial units of more than 10,000 sq ft, or offices of more than 5,000 sq ft throughout Worcestershire and the wider West Midlands area. In the past two years, John has helped more than 25 businesses identify and acquire new premises most of which have been off market.
Further details of this service and examples of how GJS Dillon has identified and acquired property for organisations of all sizes is available. Contact John Dillon Managing Director at GJS Dillon on either 01905 676169 or by email firstname.lastname@example.orgReturn to News