Published: 23 July 2009 in The Subpostmaster. Magazine of the National Federation of Subpostmasters
Commercial Plus is a commercial property consultancy company based in Chester. When they became a business partner in 2007, their prime role was that of sourcing commercial finance for both members and prospective members at market leading rates. It quickly became clear though that this would become increasingly difficult as the effects of the credit crunch and the recession began to take effect. Managing Director Barry Frost remembers: “We were confident at that time that given our knowledge of the industry sector and the collective buying power of the NFSP membership; we would be able to source funding at rates unavailable to members from their own banks. Our very early experience was that this would have been the case; however outside events intervened very quickly. As a result we have been forced to react to a very changing environment both within commercial finance and more seriously within commercial property as a whole and we are now able to deal with any issue or problem relating to member’s property, be it freehold or leasehold”.
Commercial Plus has recently launched their unique Cost Reduction Service which is aimed at saving money or reducing costs directly related to Commercial Property. Barry Frost added: “Many members face difficult times and it will often be a case of reducing costs whilst trying to get through to better times which will undoubtedly come. Many people assume that property costs, including rent are fixed or only go up. This need not be the case. Rent reviews or lease renewals in particular are a good time for negotiation and with the commercial property sector undergoing its toughest time for 20 years many landlords are keen to do a deal on the rent that keeps a premises occupied. At Commercial Plus we can negotiate on your behalf and we have been successful in a number of cases this year in achieving below market increases, and where there is genuine distress in a business we can often negotiate a temporary reduction or rental holiday that helps both landlord and tenant achieve the same goals:.
So what does the future hold for members? Well as reported previously the demand for Post Office on the market has certainly seen some signs of improving and many sub postmasters who are toughing it out are taking the opportunity to refit or improve their stores. Whatever your commercial property of finance issue though there is a very good chance Commercial Plus will be able to help. For more details…..
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