Whozoo Tips#5 How much is my commercial property worth?

What factors impact the value of my commercial property?

If you’re an owner of a commercial property and are looking for a value then you should speak to your local commercial property expert. They will be trained in valuing properties like yours and have up to market information. Unfortunately there are no credible online commercial property valuation calculators that are effective in the UK, and commercial properties tend to vary significantly from each other so it’s difficult for an inexperienced property owner to establish the value of their property without speaking to an expert.
The key factors that impact the value of a commercial property:

 - Location: Properties in prime location are typically worth more than properties in less desirable locations

- Condition: Properties that are in good condition and are well-maintained are typically more valuable than properties that are in poor condition owned repairs

- Potential income: If your property is let out to tenants, the potential income from the property will be a major factor in determining its value

  - Demand: If there is a high demand for commercial property in your area, this will drive up prices

  - Size: the value of your property will be heavily dependent on how big it is

  - Use class: - different use classes carry different values, this can often vary from area to area

If you want to get an accurate valuation of your commercial property, you should contact a qualified commercial property advisor. They will be able to assess your property and give you a market value based on their knowledge of the commercial property market in your area.

You could also look at comparable sales, things that are already on the market. One way to estimate the value of your property is to look at recent sales of similar properties in your area. You can find this information online by checking the main commercial property portals- (link) Rightmove Commercial, Zoopla, Onthemarket etc etc or or by contacting local commercial property agents.