Peill and Co

Ever thought of buying your warehouse unit?

January 2007

In the current regime of a sustained period of low interest rates, most of the high street business banks are currently offering some attractive deals on commercial mortgages.  Accordingly, although a number of business managers have often thought they could not afford to purchase their own commercial property, with the present deals on offer this may not be the case.
An example are 8 new units at Kingmoor Park in Carlisle which Peill and Company have recently commenced marketing and which are available to purchase.  The units, which are available at £145,000 to purchase on the basis of a new 125 year lease (which is the equivalent of a freehold from a bank's perspective) or to let at £13,250.  Peill and Company have teamed up with a number of banks who would be able to offer mortgages (subject to usual security checks etc) but a unit at P Central could be purchased for annual interest payments from around £7,500 pa on the basis of a 15 year mortgage as opposed to the rental figure of £13,250 pa. This is, of course, subject to a deposit,  the amount borrowed, bank lending criteria and in addition, the business then owns their own trading premises and this adds to the balance sheet for the business.  For either a limited company, partnership or sole trader purchasing your own trading premises, this can be a very attractive way of growing the business.
For further information on units at P Central, Kingmoor Park, and on commercial mortgages which may be available, please contact Simon Adams on 0845 450 4444.