Theres no slow-down in the number of commercial developments, both out-of-town and in city centres. Most commercial development consists of units that are refurbished or newly built and then sub-let to companies. It is this sub-letting that is often the key to obtaining good levels of development finance.
Commercial developments include:
Office space
Production areas
Warehousing
Leisure facilities
Retail outlets
Anything that houses a business of any type is categorised as a commercial development, and getting funding for these developments can be difficult. Choosing a specialist finance company can help, but they expect to see detailed plans that show how the development will progress and the type of returns the developer is expecting:
Use the finance provider will want to know what uses you are planning for the development as this will have an impact on the chargeable rents.
Pre-let it helps if some or all of your development is pre-let as this gives your lender some comfort as to returns and also helps to calculate what those returns will be.
Sales if you are planning to sell the whole development...
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