During the first 6 months of 2015, the commercial property market have seen a noticeable increase in demand for good quality commercial properties from a broad spectrum of buyers. Abacus DIVISIONS concluded sales for investors as well as owner occupiers in price bracket ranging from just above R 1m for a sectional title office to almost R 100m for a portfolio of tenanted offices. This is certainly a very positive sign that the commercial property sector have come out of the difficult financial times that started in 2008. We certainly predict this as a trend in the market going forward.
Said Org Geldenhuys from Abacus DIVISIONS “This positive uptick in the market can be attributed to a number of factors, including bankers changing their onerous credit lending criteria, investors looking for value properties to add to their portfolios and owner occupiers ready to take the first step towards property ownership.” He added that “demand from commercial property buyers currently outstrip the supply of good value properties in the market.”
There are a number of factors to consider when getting your commercial property ready for selling, which not only includes the obvious such as neatening up the aesthetics of the property but you also have to look at the length of the lease agreements, what costs you recover from tenants and the strength of your rent roll.
These are all factors that impact your eventual selling price.
Abacus DIVISIONS suggest that you find a reputable commercial agent to assist you in the process, once you have made the decision to sell or buy commercial property.
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