It certainly does sound like a promising investment! Commercial properties with such strong features are always enticing. Before diving in, here are a few key details you might want to consider:
Lease Agreements: Understanding the terms and duration of the current lease agreements with the tenants is crucial. Are they long-term leases or short-term? Are there any clauses that could impact the tenancy or rental income?
Building Condition: Knowing the condition of the building is important. Are there any significant repairs or renovations needed? It's worth arranging a thorough inspection to ensure there are no hidden issues.
Tenant Mix: The types of businesses currently occupying the space can influence the overall stability and attractiveness of the investment. Are these businesses well-established and stable?
Permits and Licenses: As you mentioned, the potential for a restaurant/takeaway and obtaining a liquor license adds great value. However, ensure that all necessary permits and licenses are obtainable and compliant with local regulations.
Market Trends: It's always beneficial to understand the current market trends in Brits' business hub. Is there strong demand for commercial spaces in this area? Are rental rates competitive?
Safety and Security: You noted that the building is very safe, which is a fantastic selling point. Ensuring the safety measures are up to date and compliant with regulations is essential.
Now, I'd love to know: What aspect of this investment opportunity excites you the most? 😊
