With the improving economic picture, commercial property in North London offers opportunities as well as dangers for buyers and sellers, landlords and tenants. A shop for sale in London that would have attracted little attention a year or two back is now a more sound prospect, since there is more chance of a new company succeeding – so long as it starts on a good footing. In the capital, property is always at a premium due to the relative lack of new development. But shops to let in North London will see rents lift further, and perhaps much further, as the outlook improves. Is now the time to make your move?

There are risks associated with any new business, and in some ways now that the worst is over the risks are actually higher. Ventures that are started in a dip tend to be particularly hardy, since they have been tested in the worst times. If they can survive a recession then there shouldn’t be any problem when things are easier. Recession companies have learned to be as lean and efficient as they possibly can be; those begun in the good times often have redundant features that cost money you don’t need to waste. On the other hand, the recovery has not been fully realised yet: we are certainly not back to ‘business as normal’, with cuts still to filter through. The economy may be recovering, but we have had only modest growth and are not nearly back to where we were before the downturn started.

What this means is that the situation is still in flux. Many sectors are still struggling, whilst others (like services) seem to be performing better. There are no certainties. This calls for particularly good judgment. Not only should you minutely research and test your business plan, but seek good advice on renting or buying a new building for your venture. Find a well-regarded estate agent who knows your market inside out. If it’s a shop to let in North London then make sure they have a track record in delivering this for their clients; if it’s office or industrial space then find a specialist for that, since a shop for sale in London won’t follow the same rules.

Commercial property in North London comes in all forms, with different locations and price brackets acting very differently. Don’t go for a one-size-fits-all approach. There are too many uncertainties as it is.

Please visit https://www.claridges-commercial.co.uk for further info…