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A retained surveyor will act as a window into the market

IT doesn’t seem long since we were in recession, but now it’s a seller’s market and I bet you can’t you find what you are looking for! Stephen Chown analyses the complexities of the current property market and considers the benefits of retaining your own surveyor. Just like everywhere else, Northampton’s property market had a lot of availability during the recession. However, the last 18 months has seen two things happen: one – a good number of lettings have been achieved and, two, in the office market, a large amount of space has been transferred to alternative uses.

IT doesn’t seem long since we were in recession, but now it’s a seller’s market and I bet you can’t you find what you are looking for! Stephen Chown analyses the complexities of the current property market and considers the benefits of retaining your own surveyor. Just like everywhere else, Northampton’s property market had a lot of availability during the recession. However, the last 18 months has seen two things happen: one – a good number of lettings have been achieved and, two, in the office market, a large amount of space has been transferred to alternative uses. The result is that, all of a sudden, you can’t really find what you are looking for. So when something does come available, what price (or rent) should you now pay? Relocating your business is time consuming and there is no skimping on the detail and if you don’t consider each item carefully you may end up with unnecessary expenses” (service charges, insurance premiums, transaction costs). The pressures on an all business are great enough just now without having the worries of relocation taking your mind off your core business. To release you from this added pressure you need an Acquisition Surveyor, a specialist property consultant who can act on your behalf to identify what you need and advise you on the best terms possible for the new premises. We are currently acting for industrial, office and institutional clients looking to move for a variety of reasons. Some are still expanding, which is great to know, and others are using the opportunity of break-clauses and lease ends to reconsider their property requirements given the changes in the economy. Each acquisition saves our clients, large or small, time and money, not only in the short term, but often on costs that may not otherwise be identified until well into the lease. Where availability is short we also often identify properties to clients that are not being openly marketed: a local Surveyor is a window into the market and local knowledge is key. Another feature of the acquisition process is the formal inspection of the property and the preparation of a schedule of condition – often including the roof. Would you get on a platform lift and look at yours, 20 feet up? It’s not my favourite bit but I recognise that it has saved clients thousands of pounds by avoiding the costs associated with roof repairs. If your company has space available, you are coming to the end of your lease, or if you are having trouble finding the right property contact Chown Commercial, on 01604 604050 or visit www.chowncommercial.co.uk without obligation.

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