This week, we're sharing a bittersweet story from our portfolio. When a long-standing tenant - a business we'd known and worked with for years - unfortunately went into liquidation, we found ourselves with a property back in our hands 5 years earlier than planned.

We talk through:

• The ripple effects when a tenant goes bust
• Navigating the unexpected (and the mountain of stuff left behind 😅)
• How market understanding helped us move forward

The numbers that might surprise you:

• Original rent: £33,000 per year
• New market rent: £58,000 per year
• What this meant for the property's value... 🤔

Some key reflections:

1. The importance of adaptability in commercial property
2. Why local market knowledge matters more than ever
3. Sometimes the best plans are the ones you didn't make

Looking back, this experience reinforced that commercial property isn't just about the numbers 🔢. It's about being prepared for the unexpected, understanding your market deeply, and sometimes, making the best of situations you didn't anticipate. While the outcome was positive for us, it's a reminder that in this business, change is the only constant. Whether that change brings challenges or opportunities often depends on your preparation and perspective.

It's been a busy September with training events in Scotland and lots of great conversations at property meetups. A heartfelt thanks to all the podcast listeners who came to say hello - you make this journey so much more enjoyable! 🤝

Thanks again and as always, make sure you stay in the commercial property swim! 🏊‍♂️

 

 

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