A Guide to Managing Vacant Properties

Gerard LeCain write for Property Investor News about the options landlords have in difficult times on the high street, as well as how they can mitigate the issues that are arising from impending Brexit.

There have been some dark days on the high street. It’s not just the tenants who feel the struggle of having to stump up increasing business rates, less footfall, and having to compete in an online environment. Commercial landlords tend to bear the brunt of all these issues and being left with an empty viable property can be painful.

This uncertain uneconomic climate, borne from different factors, including Brexit, has concerned commercial landlords for a considerable time. Figures from CoStar disclosed that in summer 2019 investment in the commercial sector had fallen by a third. The rocky nature of the market in December 2019 saw £57m withdrawn from UK property funds.

This market makes it difficult for commercial landlords to sell their asset when it’s left vacant. Additionally, the management of the building becomes an issue at that point, which can be costly. So how can this scenario be prevented? It may be wise to keep a property occupied during uncertain times, so how can commercial landlords retain their commercial tenants and mitigate any economic issues?

Read Gerard’s full article for Property Investor News by clicking here.

CONTACT GERARD

If you would like more information or advice relating to this article or a Property law matter, please do not hesitate to contact Gerard LeCain on 020 7183 5683.

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