Partner Article

Firm issues property investor survival guide

A North East property consultancy is preparing for the beginning of the end of the recession by producing a survival guide for commercial property owners.

Newcastle-based Sanderson Weatherall has developed the guide to highlight tips to reduce property costs, maximise savings and help businesses secure loans against premises, as the UK market begins to stabilise.

Tim Catterall, Director of Agency, Investment and Development, said: “Property accounts for the largest chunk of a business’s outgoings after salaries, so ensuring buildings are not passively wasting money is vital – particularly so at the moment.

“Hopefully the 2009-2010 guide will be food for thought and will remind businesses to periodically assess their buildings or investment portfolio to keep cash flow as efficient as possible, especially over the next twelve months.”

Owing to legislation changes and tax threshold revisions, a building can become a drain on company finances very quickly, added Mr Catterall, and can catch out unprepared firms.

He said after renovation work at Sanderson Weatherall’s Newcastle office, the firm halved its spatial footprint resulting in a 47% rent saving.

“Reviewing operational efficiency at this crucial stage will enable property owners to come out of the recession in the strongest possible position. A thorough assessment could generate substantial savings and enable faster growth as the market improves,” he concluded.

For more information visit www.sandersonweatherall.com.

This was posted in Bdaily's Members' News section by Ruth Mitchell .