What exactly is commercial property? I had always thought that it was related to residential type property, but now I’m not so sure…
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What is considering commercial property?
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Generally it is thought of as premises occupied by businesses - but not industrial premises which are in a class of their own. Warehouse space can either be industrial, or commercial if it isn't that big and includes showroom components....the bigger it is the more likely people will think of it as industrial.
All a bit subjective really.
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According to the commercical /industrial leasing guy at a networking event I attend, Industrial is the first to be hit in a down turn and when it starts to recover its normally a good sign. He said yesterday that there are signs albeit faint that it is starting to improve here. So maybe this is why there is a distinction?
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but then retail and office get hit differantly also. I have seen, though, leasing agents advertise that they do industrial and commercial. My Bayleys man has a commercial view monthly newletter but says at the bottom of hit email
help with the sale or lease of you Commercial or Industrial property
Very loose - if it isn't residential then it is commercial of one flavour or another.
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Residential properties contain residents. Commercial property contain commerce.Profiting from Property, not People
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Originally posted by partya View PostWhat about a large block of flats, say with 20 tenancies? You would probably deal with the commercial side of a bank for finance? Quite subjective.........
Your term "commercial side of a bank" is subjective. Commonly referred to as business lending because the property is not your primary residence and is valued over $1M.
However, short-term accommodation such as hotel/motel, or student accommodation is commercial as you are renting out short-term accommodation.Profiting from Property, not People
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