Paramount Properties

150 West End Lane
West Hampstead
London NW6 1SD

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Freehold Retail, Office & Commercial Property Investments For Sale in the UK

Paramount Investments are London commercial property agents offering freehold retail, office and commercial property investments for sale such as empty shops & retail units, abandoned commercial buildings, unoccupied office blocks and run down or derelict commercial properties in London, Glasgow, Birmingham, Manchester, Sheffield, Leeds, Liverpool, Bristol, Cardiff, Leicester, Hull, Newcastle, Bradford

Search our commercial property investments sales list of investments & development sites for sale such as brownfield commercial land, repossessed business premises or run down shops, offices, warehouses, pubs, hotels & retail units.

Commercial Property Investments: Register with Paramount Investments to receive our commercial property newsletter with the latest news of retail, office and commercial property coming on to the market and lists of abandoned, run down or derelict commercial property for sale at auction.

According to data from the Office for National Statistics, the estimate for gross domestic product (GDP) showed the economy grew 0.3% during the first quarter of 2013. Chancellor George Osborne said it was an ‘encouraging sign’.

The growth in GDP means the economy avoided two consecutive quarters of contraction - the definition of a recession and therefore avoided a triple-dip recession.

At Paramount we have also seen good signs that the property market is also picking up. For the first quarter of 2013 we have helped clients dispose of assets in excess of £10,000,000 throughout the UK.

This is the result of hard work from the investments team and matching the right buyer to the right opportunity. We have a varied database of investors looking for anything from single unit refurbishments to larger new build schemes, blocks of 400 units plus, pubs, shops and uppers and multi let retail parades.

Below is a selection of instructions recently SOLD by the Paramount Investments team. The shortlist highlights our diversity as a niche agency:

If you have an investment or development property which you are considering disposing of, we are seeking to take on new instructions including:

• Commercial property – retail units, pubs, offices, restaurants / takeaways and hotels
• Land – with or without planning
• Single plots – garages and land to the rear of properties
• Residential investment – refurbishment opportunities and HMOÂ’s
• Care homes

We have a proven track record of selling and have the in-depth market knowledge to help you find the right buyer.

At Paramount we realise that each vendorÂ’s requirements are different. Whether you have something you want sell discreetly, fully market, or even if you want to set a date for best bids, we are happy to work with any method and timescale.

If you have a property, land or development opportunity to sell and you would like our opinion, please call Steve Oliver on 0207 644 2340.

Paramount Investments have been at the forefront of investment and development sales for the past 24 years, covering the whole of the UK. With a renowned track record, Paramount Investments are synonymous with simple, straightforward, efficient transactions in order to secure a satisfactory price for both buyers and vendors!

To ensure you donÂ’t miss out on any investment or development opportunity, here are our top five tips for a successful and straightforward purchase:

1. Email

It is imperative that buyers are quick off the mark when the right investment comes your way. In the first instance an email matching your required criteria will be sent to you. It is crucial that you check your emails regularly, as new instructions and price reductions happen on a daily basis.

2. Keep in contact 

Once you receive an investment/development opportunity that catches your eye, it is time to start undertaking your due diligence. This can include getting a feel for the area, gauging sale prices of other properties in the area and running an initial draft appraisal. Having this knowledge prior to visiting a desired site can save you valuable time and money. Once you are satisfied with your homework, we would advise that you call the Paramount team at the earliest opportunity. The team will be able to answer any questions you may have. We have 50 years of combined property experience and are always happy to help.

3. Arrange a viewing 

Booking a viewing early is essential to helping you secure your investment. We encourage buyers to know what you are buying, rather than making a blind offer. Getting a feel for the investment will give you a greater understanding of what costs may be involved, such as build works, whether that is refurbishment, new build or even just cosmetic work. Having this knowledge will make your development appraisal more accurate, which is key to working out what offer you wish to put forward.

4. Making an offer 

Once satisfied with your viewing and due diligence it is now time to submit your offer to the Paramount Investments team. The team are here to help and will always try to give you guidance where required. Often the best deals are secured for buyers who can make cash offers where no mortgage is required. This enables a quick transaction for exchange of contracts and completion.

5. Legal element 

It is imperative that buyers already have a solicitor in place. Having a local solicitor who you have a good relationship with can be the difference between securing and losing a great investment opportunity. If you are a first time purchaser, we advise that proof of identity and proof of funds have already been presented to your chosen solicitor prior to having an offer accepted. Having a solicitor in place and ready to act can help push your offer over the line when there is competition for the property or investment. At Paramount our record for an exchange of contracts from receipt of all paperwork is 7 MINUTES. It really can be done that quickly if all parties are committed.

Congratulations! At this point you would have secured your investment by exchanging contracts with a 10% deposit!

Anthony from the Paramount Investments team shares his views on securing a purchase:

In todayÂ’s market, being a buyer in a proceedable position really does make the difference when securing your investment opportunity. 2013 has started very well, most notably in residential development, pub and HMO sales and I expect this trend to continue judging by the volume of activity. I believe that by keeping yourself up-to-date at an early stage with what investments are coming to the market and having funds and a solicitor readily available will benefit our buyers greatly. I hope 2013 proves to be a successful year ahead for all.

Chancellor George Osborne announced his plans to extend the Small Business Rate Relief scheme to April 2014 in his Autumn statement.

George Osborne explained that ‘the temporary doubling of the small business rate relief scheme helps over half a million small firms, with 350,000 paying no rates at all. We have already extended it to next April and today I extend it by a further year to April 2014.’

What is small business rate relief?

Small business rate relief is a scheme that was introduced in March 2010.

Can I apply for small business rate relief?

If your business has a rateable value of less than £18,000 in England (£25,500 in London), you are eligible to apply for the Small Business Rate Relief Scheme.

What are the financial benefits of the small business rate relief?

Until 31 March 2014 you’ll get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of £6,000 or less.

The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.

What happens if I have more than one property?

You could get small business rate relief if the rateable value of each of your other properties is less than £2,600. The rateable values of the properties are added together and the relief applied to the main property.

What happens if I have a small business but it doesnÂ’t qualify for relief?

If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.

Even if you donÂ’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if you have multiple properties.

Learn more about the small business rate relief 

Image: altogetherfool

Commercial landlords will be all too familiar with the date 1st April 2008. This is because paying rates on empty commercial properties came into practice on that day.

Owners of commercial properties, such as pubs, shops and offices, are exempt from paying business rates on an empty property for three months after the property becomes vacant, while industrial properties remain exempt for six months after becoming vacant. Buildings with a rateable value below £2,600 are exempt until they become occupied again, while buildings with a rateable value above this amount are liable for the full amount after the three month period has passed. This threshold, which was previously set at £18,000, came into force in April 2011.

Business rates are charged on most commercial properties. The rateable value is assigned by theValuation Office which is part of the HMRC. This is used by the local authority to calculate how much the occupier of that property should pay.

How to avoid empty rates: industrial premises case study

The law currently states that no rates are payable for the first six months for an unoccupied industrial property that remains empty. Once that six month period has passed, business rates are payable at the same rate as an occupied property.

However, in Article 5 of the 2008 regulations it states that occupation of at least six weeks is required to break the period during which the property is deemed unoccupied. After these six weeks, the landlord of an unused industrial property is entitled to a further rate-free period of six months. The key question though is this: What constitutes as ‘occupied’?

In June 2012, Makro Properties Ltd (occupiers of a 140,000 sq ft warehouse in Coventry) came before the High Court. This warehouse had been empty in the six months up to November 2009, meaning that Makro were not paying rates. However, between November 2009 and January 2010 they used a corner of the building to store a few pallets of documents. This was proven to be 0.2% of the entire floor space. Six weeks later, these pallets were removed, the building declared unoccupied once more and Makro began a further six months rate-free period. Thus saving them over £117,000 in empty rates!

The Paramount Opinion 

My colleague Anthony Shaw shares his views on empty rates:

"The commercial landlord can at last breathe a sigh of relief, as the High Court appears to have taken their side during these turbulent years. It appears to be a small step in the right direction to help commercial landlords who have been victims of demanding tenants in recent months. The empty rate’s ‘tax’ is another strain in an already demanding market and it is very positive to see this outcome on the landmark case of Marko Ltd.

It is estimated that councils alone pay approximately £50m a year in ‘empty rates’ and for businesses it is closer to £1 billion. This statistic alone should ring alarm bells for the taxpaying citizens who are contributing towards this additional unnecessary tax."

Join the discussion online and share your thoughts about empty rates on Twitter and Facebook

Squatting in residential properties will become a criminal offence from September 1. There is the suggestion that from this date more squatters will turn to commercial properties, but is this likely to happen?

That has been the burning question since the Legal Aid, Sentencing and Punishment of Offenders Bill received Royal Assent in May. Essentially nobody knows the answer, but as ever prevention is key.

Squatters do have rights and cannot be legally evicted from properties without a court possession order, unless they leave voluntarily or the owner secures peaceable re-entry.

We have compiled a list of things you may need to do to prevent squatters from setting up in your property.

Using a Property Guardian

There are a number of companies that offer a guardian service. A property guardian will come and live in your commercial property, preventing squatters from gaining access. Guardians come from all walks of life however the majority tend to be young professionals who have been thoroughly vetted. The benefit to the guardian is cheap rent and large amounts of space. They also report any issues to the agency immediately, whether that is a security breach or crumbling building work.

Security Companies

If your commercial building is overtaken by squatters, it can be a lengthy and expensive process to evict them and repair any damage caused. Many security firms will offer a wide range of services from hourly/daily visits to 24-hour on site manned security on vacant properties. Although permanent security is expensive, in the long-term it will work out more cost-effective than having squatters and dealing with evictions and repairs.

Alarms

A good alarm system can act as a deterrent. Alarms come in various guises and in many cases are stand alone and require no hard wiring, electricity, radio frequency or telephone lines. They are usually installed in tandem with infra-red sensors, both internal and external. This provides instant detection and alerting on a range of incidents including intruders, flooding and fire. Alarms can also be paired with pressure mats, door sensors and cameras which can transmit images to a control room, laptop and iPads, providing landlords with the most advanced security solutions on the market.

Insurance

If your property is vacant you will likely need to notify your insurance company. They will almost certainly require regular checks. They will be able to advise you further on their requirements, and can make suggestions about how to proceed.

Advertisement Boards

Where feasible remove sold boards as soon as possible. This is a clear sign that the property is or is about to become vacant.

Newbould Guardians Ltd have been protecting vacant premises in London and the South East for a number of years and offer a wide range of tailor-made services to help protect your building. If you have a vulnerable property in need of their services please contact Paramount Investments on 020 7644 2341 to discuss how they can help you.

Mark Greig, Chief Executive of Paramount Properties, features in daily newspaper City A.M. today.

As London firms report low visitor numbers, is hope for an Olympic business boost dead?

No.

Regardless of whether visitor numbers are up or down, LondonÂ’s winning bid for the Olympics has been a catalyst for change. No advert could be better than what the world has seen so far.

Hosting the Games will leave a lasting economic legacy and preparation for the event included a huge investment in infrastructure. A capital city needs excellent transport links and the economic benefits of improvements made for the Games cannot be ignored. Additionally, the regeneration of East London has seen demand and yields for commercial and residential properties in the area increase already.

The Olympics have placed London at the centre of the world stage at a time when the euro is weakened. Property in London continues to be a strong and safe asset, and exposure from the Olympics will encourage further long-term investment in the capital.

Read the City A.M. feature about the Olympic Games in full

Image: City A.M., August 1, pg 15

There is likely to be a wealth of new office space in London over the next couple of years because developers are feeling confident about starting new construction projects.

Ed Stansfield, chief economist at Capital Economics, believes that uncertainty in the Eurozone is causing banks to be selective with their funds, property builders will not be put off pressing ahead with their projects.

“The development pipeline is looking stronger than it has done for some time,” he said. “It does seem as though developers are pressing ahead with projects - they are not pulling back, deferring and delaying.

"We think that we will see an improvement in supply over the next couple of years.”

Mr Stansfield also said recently that companies are likely to become attracted to office spaces in alternative London districts rather than in the West End and in the City because they can offer more attractive rental rates.

London Commercial Property News

Businesses are increasingly looking at office facilities in London sub markets rather than in the West End, it has been claimed.

Ed Stansfield, chief economist at property research firm Capital Economics, believes that interest is gravitating to other parts of the capital because a lack of availability in the West End has pushed up the price of what is on the market.

"The gain in a relative sense in West End rents that we have seen has left them looking very expensive compared to other parts of London,” he explained.

“I think it is quite natural in that environment that companies who are facing uncertain times will be saying that it really isn't value for money and that they need to go somewhere else.”

He added that the commercial property market in London is only like to revert back to type if rents in other areas reach West End levels.

London commercial Property News

Disused commercial properties across the UK could be renovated and offered to start up business under new Government plans.

Sites in 18 cities, including Birmingham, Oxford, Bristol, Leeds and London have been earmarked for redevelopment and the government is now inviting start ups and existing small business to come forward and manage the properties.

Business and Enterprise Minister Mark Prisk said: "Many entrepreneurs struggle to find a suitably flexible and affordable space to start their business, so this is a practical measure which the Government is taking to support the next generation of businesses.

“Opening up areas that are not being used will give entrepreneurs access to the space they need to start and grow."

Minister for the Cabinet Office Francis Maude added that getting a grip on property and using space more effectively could save theGovernment more than £100 million a year.

The process is due to start on June 29th.

London commercial Property News

Commercial property in London is the only area of the commercial property market which is recording positive growth, according to new figures.

Data from the latest IPD monthly index shows that offices and retail and industrial units in the capital city recorded a positive growth however values for the UK market as a whole fell by 0.3 per cent.

"Without the impact of London on returns, which remains the powerhouse of the UK property market, the declines across the UK would be even more apparent. However, confidence in the Capital, and its ability to keep growing, should lend some assurance to the industry," said Phil Tily, managing director of IPD UK and Ireland.

He added that values for City offices increased by 0.4 per cent, the strongest growth recorded since September 2011.

Figures from Savills' building and project consultancy team recently showed that commercial property development in the UK is increasing with activity rising for the second consecutive month in April.

London Commercial Property News

Lowering building costs are being cited as the reason why commercial property in London is developing at a faster rate.

According to Drivers Jonas Deloitte's (DJD) Crane Survey, the construction of new offices in London has increased by 44 per cent year-on-year and is now three times greater than three years ago.

In total, there is around 9.2 million square foot of office space under construction in London, which represents a rise of 28 per cent compared with just six months ago.

Key developments currently underway include the Walkie Talkie skyscraper and the Cheesegrater.

Anthony Duggan, head of research, at DJD, said: "While construction continues to rise in the core City and West End markets, our research also shows that activity has returned to King's Cross and the Docklands, as well as a further increase in activity along the Southbank.

"This is a sign that developers feel that the low levels of construction – compared to historic trends – and lower building costs are compelling."

Recent figures from Savills' building and project consultancy team also highlighted that commercial property development is on the up.

London Commercial Property News

Commercial property development activity rose by the second month in a row in April, according to recently-released data.

Figures from Savills' building and project consultancy team show that 8.2 per cent more firms questioned felt that development was on the up compared to those who thought it has declined, suggesting there will be more commercial property in London and elsewhere in the UK available in the not too distant future.

The highest rises in commercial property development were seen in London and the south-east with rises of 18.6 per cent.

The report also showed that companies are optimistic about the future, with 19 per cent stating that they expect activity to increase over the next three months.

"Anecdotal evidence provided by survey respondents suggested that general optimism was supported by expectations of new business wins," a report from the company stated.

Recent figures from CBRE highlighted that industrial premises and offices in prime London locations showed encouraging growth of 0.4 per cent over the first quarter of the year.

London Commercial Property News

Even with a number of new hotels opening their doors, people heading to London this summer may struggle to find a room during the Olympic Games.

Figures cited by the Associated Press show that there are 110,000 hotel rooms in the London area, a third of which are being used by Olympic personnel and many of which are already booked.

"It's almost too late now to get into central London," Miles Quest, a spokesman for the British Hospitality Association, told the news provider.

"(Visitors) need to look outside the central area."

It is hoped that the Olympics effect will continue when the Games have left town with Hotels.com president David Roche stating that many hoteliers are looking to the Olympics to rejuvenate interest in the UK as a tourism destination, providing a much-needed boost to hotels, bars and restaurants in London.

One hotel group which is doing just that is InterContinental which recently posted a five per cent increase in profits in the 2012 first quarter.

The group is sponsoring the 2012 London Olympics and chief executive Richard Solomons confirmed that demand for rooms in the capital has been very high.

London Commercial Property News

 

When moving your business to new office space in London it is normal to feel a small level of trepidation, but the aptly named HelpMovingOffice.co.uk have issued some handy tips to follow.

One the first things the site says you should do is plan ahead, this could mean drawing up plans between nine and 18 months before your current office lease expires.

They say that you should seek out the professional advice of a property agent as well as solicitors firms and office designers to get all the component stages of the move just right.

Keeping your staff up to date with events is also an important thing as you don’t want an office move leading to problems such as them not being able to commute to the new site and thus leaving your business in the lurch.

There are also several ‘don’ts’ to bear in mind.

These include checking the Exit Clause in your existing office lease to ensure that you abide to the notice period set out.

It is also important not to ignore the possibility of future company expansions. While the office you are moving to may tick all the boxes now, will it suit where your business will be in five or even ten years from now?

HelpMovingOffice.co.uk also points out that you should never move to a new office without first planning a realistic budget. This will allow you to keep track of costs and ensure that you don’t overstretch the firm’s resources.

Lastly, the site says you should not take all your clutter with you. It says that you should have a good clear out and get rid of those historical files which have been gathering dust at the top of a filing cabinet for years.

London commercial Property News

The strength of commercial property in London continues to drive the UK market, figures from CBRE show.

The firm's Prime Rent and Yield Monitor found that the nation's capital continued to perform despite severe economic troubles hitting other UK cities.

Industrial premises and offices in prime London locations showed encouraging growth of 0.4 per cent during the first three months of this year.

Nick Parker, senior analyst at CBRE, said: “The message coming from these results is clear; London remains the key hub for UK commercial real estate growth. In all three major sectors, London experienced positive growth in Quarter one, with Central London shops the jewel in the crown of UK property."

He added that there has been significant rental growth in the retail market despite current economic uncertainty, with premises in the West End proving particularly buoyant.

Indeed, some London retail rents have grown by as much as 2.4 per cent this year.

London Commercial Property News

The high demand from companies and a lack of stock is keeping the cost of office space in prime London locations at a high level.

This is according to Kelvin Davidson, property economist at Capital Economics. He believes that currently commercial buildings in the capital are seen as something of a "safe haven" for investment, with record prices and rental yields.

"There is investor demand there and also there is the lack of supply. There hasn't been any new stuff built really for two or three years, so the level of demand is going to put upward pressure on prices given that the existing vacancy rates are a long way below average," he stated.

His comments echo those made by CBRE recently, who said that current gloom in the economic climate has done little to stem the value growth seen in commercial property in London and money coming in from overseas is helping the capital's "economy strong".

The gloomy economic climate in recent years has done little to slow down the growth of commercial property in London, it has been claimed.

Mark Teale, head of UK retail research at CB Richard Ellis (CBRE), believes that the London market is buzzing and shows no likelihood of slowing down any time soon.

He said: “It has got almost one of the lowest rates of availability of shops in a generation in terms of big stores. The end result of that is that we have had very sharp rental growth and premiums are back with a vengeance.

"London is buoyed up essentially by money coming in from overseas shoppers, so London's economy is very strong.”

Mr Teale added that other markets in the UK, however, are much weaker because investment is harder to come by, but big city centre shopping centres and retail parks are fairing well right across the country.

London Commercial Property News

Residents in a village near Preston have come together to support a planning permission application to convert a closed down pub into a swanky new restaurant.

The Farmer's Arms in High Walton closed its doors in 2009, but an application for change of use has already been approved by South Ribble Council. Now villagers are supporting a new application for the building to be extended.

Villagers have written to the council and expressed the backing for the scheme, which was put forward by Callum Muhammad.

According to the Lancashire Evening Post, resident Lorna Jones wrote: “I have viewed the plans and believe the use of this building as a restaurant would be an excellent idea and benefit the area greatly.

“At present, the empty building is of no use and I would welcome a restaurant in its place.”

Under the plans a two-storey extension will also be added to the rear of the premises.

Landlords are calling on the government to consider carefully its response to retail 'guru' Mary Portas' review of the high street in the wake of new figures that spell further gloom for retail sales.

Figures published today by the Local Data Company (LDC) show shop vacancies reached a record high of 14.6 per cent in March – the highest number of empty shops in four years.

LDC said the rise in empty outlets was hardly surprising as retailers continue to streamline operations and even go bust. This week Game, which has 600 branches in the UK, signalled its intention to enter administration.

Portas, the retail consultant and TV presenter, was tasked by the government to look at ways of revitalising struggling town centres.

She presented her findings last December and the government is due to officially respond as early as next week.

"It's crucial that the government responds to Mary's review with a menu of recommendations next week that local people, councils and businesses can 'pick and mix' to help start to reverse the damage that many of our high streets have suffered," said Ian Fletcher, director of policy at the British Property Federation.

The value and potential rental yields of commercial properties will be largely impacted by energy efficiency in the future, it has been claimed.

Ian Fletcher, director of policy for the British Property Federation (BPF), believes that as well as location and office space, many firms will think seriously about energy costs and the building's carbon footprint when looking to buy or rent.

"I definitely think it has been slow to take off in terms of property values reflecting energy efficiency, but the industry should be in no doubt that the UK has some very challenging energy efficiency targets to meet over the next two or three decades," Mr Fletcher said.

"The way of the world is that property is going to have to improve its energy performance. Therefore it will become an issue that is important to values and the way that people do business."

His comments come shortly after the Royal Institution of Chartered Surveyors (RICS) released a report which said that climate change will, by 2030, have added an extra £355 million to collective sum businesses pay for their gas and electricity.