Why Taylor Wilcox?
TaylorWilcox Commercial Estate Agents was established in February 2009. Simon Taylor FRICS, a qualified Chartered Surveyor, is a director and advises on all aspects of commercial - retail and industrial - and residential property, which he has been involved in since 1973.
Simon’s specialism is with shopping centres both town centre and out of town, which he has dealt with since 1981 from new development to reconfiguration of existing centres. Working on all retail areas from small independents to national stores - covering open A1 retailing such as fashion, footwear and homewear and the food area of activity ranging from small neighbour hoods stores to large free standing supermarkets.
The biggest change in commercial property for over 35 years...
The real problems in 2014 will, once again, be on the high street. Traditional long leases signed by retailers in the 1980s and 1960s are due to come to an end within the next two years – 43% of shopping centre leases and 37% of all high street shop leases will expire.*
Many tenants will not renew their leases -due to the location now being wrong for their retail offering, competitive threats, unforeseen circumstances or simply market forces. more
*Jones Lang LaSalle Inc 7th January 2014 Report.
Things you need to know before you buy a commercial property for residential conversion
By Simon Taylor FRICS
Is the property liable for VAT? Many commercial properties have VAT attached which is now 20% - extra money you will have to find because as a private individual you cannot reclaim this.
Please, please, please arrange a full structural or building survey. This will tell you what’s wrong (or right) with the property and will give you an ability to renegotiate the price when your surveyor lists the problems with the building.
Listed building/conservation area. Check this as your ability to change the property to the way you want it may be severely limited if it is!