Oh my, I just looked up and it’s mid July! This year is flying by.
I’ve not been able to get back to the UK since Covid started. We’re on non-permanent US visas. If we need to leave the country then that’s us out until the border reopens to non-permanent visa holders. If that’s longer than 5 months, we lose our visas altogether… and the US have cancelled our visa class so won’t be reissuing new ones, so we are just hanging tight.
Which means that, rather than give up on investing in the UK, I’ve simply changed my strategy as I’ve still got a team on the ground.
Shock horror for some, I’m working on commercial property deals. The reason being is that lease re-gearing can add so much value to a property without me having to see it or be on the ground in person.
Whilst more risky, commercial tenants still want space to occupy and some are desperate to hang onto their leases. With the uncertainty around it, yields are high.
However, I firmly believe that where there is a will there’s a way and to generate growth and security in your asset you have to get innovative.
Which is why this week on the podcast I’ve invited my solicitor, Nishita Gudka, back so that we can chat about the legal issues around commercial leases and what’s being implemented into leases to protect both the Landlord and Tenant.
Hint: Tenants are going to want certainty and flexibility, so they are going to want certainty about the bottom line, how much money they are paying. things like inclusive rents Capped service charges, fixed rent reviews. With flexibility they are going to want to know they can either get out of the lease, so break clauses and shorter terms with a right to renew and sublet spaces if they need to so that they can supplement their income if they’ve got excess space.
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Would you invest in commercial property right now?