Jun 4, 2020
In this episode, Jerry aims to answer the question: “How do you find out what the local market demand will be for my potential CMO or single let commercial property?”
We get asked this a lot and it does depend on lots of factors. It is not something that you can determine with five minutes of activity. It takes time to learn about a specific area and the levels of demand.
Jerry explains how he has done in it the past with a summary of 10 activities that you can do to speed up information gathering.
- Chat to local commercial letting & sales agents. Learn to ask the right questions.
- Join local business networking groups and ask the right questions.
- Look at National agent websites for signs on pricing, Yields, vacancy & property types.
- Search the online broker platforms for more detailed information
- Look on Gumtree, Craigslist and other platforms to see what smaller operators are offering
- Speak to Local Government business support agencies
- Get online and carry out a full competitor analysis
- Get out and visit the streets and commercial areas
- Check your relevant local government property tax website for details
- Who do you know. Think about your extended network, find the gatekeepers but watch for any potential conflict of interest.
Listen in as Jerry goes through each of these actions in more detail on this episode of the Commercial Property podcast.
These activities can help you build a fuller picture of the local market fast.
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