Commercial property UK – a 3 year view.

20 Fletcher Gate News, Commercial Property, Landlords, Property Purchase, serviced office space
David Ajose CEO of Exeid, the rapidly expanding boutique commercial property consultancy commented on the recent changes in empty rates liability and the further impact of interest rates on the Commercial Property Market.  "We expect interest rates to firm up in Q3 this year adding more pressure on any highly geared property investments. This combined with empty  rates liability charges will mean that the commercial property market will be under pressure for the next two years at least. We think that the market will be no further on, in two years time than it is today. Then we believe that things will begin to improve slowly, towards the end of 2013 and into 2014". Although this may sound a little depressing  to some, David thinks that  anyone with a long term…
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Reduction in empty rates relief – a blow to landlords and owners of commercial property.

Commercial Property, Exeid News, Landlords, serviced office space
This week has seen a further increase in the tax burden on landlords and Small businesses who own commercial property.  In a further drive to raise revenue by central government, the threshold at which an empty property is liable for full rates has dropped from £18,000 to £2600. This effectively means that many owners of  commercial properties will become liable for huge payments even if their properties are generating a nil income. Richard Priestley, MD of Exeid the boutique commercial property consultancy said "this change is nuts. It would be like taxing PAYE and NI to an employee who was out of work with no income. It makes no logical sense at all.” It is thought that the move will result in a further destabilisation of the commercial property market…
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