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commercial property solutions
With lending criteria among the UK's banks still restricted, it has been well documented that raising finance to enable business expansion is often a major stumbling block to businesses moving reports commercial property agent prop-search.
However, the owner of a hybrid industrial unit in Wellingborough is offering a new initiative to help wannabe property owners get their feet on the freehold ladder.
A deposit of just £100,000 can buy you the 19,350 sq ft detached unit on Park Farm South. The property occupies a large site of some 2.3 acres and has planning permission for the accommodation to be extended by approximately 16,000 sq ft, taking the total gross internal area to approx 35,350 sq ft. It also has extensive car parking and vehicle loading, along with a large self-contained yard.
Chris Billson, a Director of prop-search, says: “At present raising finance is a regular a problem for businesses. Our client has recognised this and hence is offering effectively an interest only mortgage for three years with only £100,000 deposit - at which time the occupier would complete the freehold purchase.”
“Going forward, we predict that it is going to be a year of structural changes - those looking to dispose of assets will have to become more innovative in the way they do business, because often the traditional arrangements for bank borrowing are harder (if not impossible) to attain.”
Further information can be obtained from Chris Billson at prop-search - Tel: 01933 223300 or Email: cb@prop-search.com