Reply to: Northern Plan B'ers

[MarillionFan]

May Auction for Commercial this time.

Allsop LLP Commercial Online Catalogue - Auction Home

[Sysman]

Financial adviser fella i know (millionaire own business) says its a good thing to look into and he as several industrial units, the returns are good but its the same as buying houses you need the unit in the right up and coming area or where there are a large amount of existing units that are occupied already

Aye, a chap I used to know bought an old hotel in the early nineties to restore to its former glory. While that was being done he went around bankruptcy auctions filling his boots with all the kit needed to go in it. It was in a prime location, and once the economy picked up he was set to make a mint.

He did very well out of the place and sold to one of the big hotel chains.

[Sysman]

I think most people are missing a fact here.

The owner of an empty office is liable for business rates unless they find a tenant and so an empty business premise is not an investment its a milestone around your neck.

If there isn't a reserve the actual value of that building is probably 0 as it will cost you thousands a year until a tenant appears.

A mate of mine ended up taking the roof off a disused factory shed because the water board wanted to apply sewage charges to it. The result was that the same rain fell, but drained into the ground rather than going via a sewer.

On another note, the tax system encourages new building rather than doing up old places. A shame when there are a lot of old perfectly good stone buildings around. Many of them are of architectural interest too.

[Sysman]

So you buy empty property just to keep it empty and get no return

This new fangled investing model is interesting

"It's different this time."

[Support Monkey]

Always amazes me how many financial advisers are stinking rich, but their clients aren't. Similar to those selling courses and books on how to become a forex trader millionaire.

I have always wondered that, i never used him i do everything myself for the very reason i know he knows as much as i do the difference is People will pay him for talking bollox

[Friday Blue]

was there not a bbc programme some while ago documenting commerical buildings being let out as residential on a short term basis? i think one of the cases was about some guy renting a empty church on a short-notice basis and relatively low rent. As part of the deal the guy has to basically look after the church until someone wants to rent it as a church or buy it right out. so may be that will cover some of the business rates for these commerical buildings?

[DimPrawn]

So following those forex trades work well then?

Best not talk about that.

[eek]

Always amazes me how many financial advisers are stinking rich, but their clients aren't. Similar to those selling courses and books on how to become a forex trader millionaire.

So following those forex trades work well then?

[DimPrawn]

Always amazes me how many financial advisers are stinking rich, but their clients aren't. Similar to those selling courses and books on how to become a forex trader millionaire.

[DimPrawn]

Financial adviser fella i know (millionaire own business) says its a good thing to look into and he as several industrial units, the returns are good but its the same as buying houses you need the unit in the right up and coming area or where there are a large amount of existing units that are occupied already

Which means not oop north.

Which means "how much!"

[oscarose]

Thanks for the links.

[Support Monkey]

Financial adviser fella i know (millionaire own business) says its a good thing to look into and he as several industrial units, the returns are good but its the same as buying houses you need the unit in the right up and coming area or where there are a large amount of existing units that are occupied already

[TheFaQQer]

Latest list of commercial property for auction. Mostly up North, some very interesting pubs in receivership for sale.


Allsop LLP Commercial Online Catalogue - Auction Home

If you are interested in northern ventures, then Pugh Auctions may be a better bet.

We nearly bought the pub down the road from us last year, but it sold just prior to the auction and before we could get a decent look round.

[Lockhouse]

Thanks for the link. Very interesting.

[eek]

Offsetable, tax relief and the opportunity to make a bundle in the future.

I was looking at a shop for sale down in Hampshire with a 13% yield. Of course won't go fo that, but then saying that the last one I saw(where I couldnt be bothered to go to the auction) was up for start £55k with a £7.5K a year rent with a long term tenant. It only went for £57k!

If its coral's or tesco's in it then I think you are sure to get the money to the end of the lease. Otherwise I would run a mile.

I've already heard of a few phoenix company closures merely to escape lease agreements.