Published on : 16 June 20202 min reading time
You have decided to open a restaurant in London or a business but you are not there and need advice? We believe that this is a winning diversification strategy: London being a very dynamic economic capital, at the forefront of new trends and cosmopolitan. There are real estate consultants that will be your bridgehead in this new market and will accompany you in your project by advising you at every stage.
Commercial real estate in London: how does it work?
You should know that commercial properties are classified into categories. Here are the main ones:
Shops – most shops, as well as post offices, travel agencies, hairdressing salons and dry cleaners.
Financial services and professional services other than medical: banks, real estate agencies, etc.
Food and beverage related premises: restaurants, cafes, snack bars, “pubs”, take-away sales.
Knowing that the notion of business does not exist in English law, you can :
- buy an existing restaurant by acquiring the floor and the walls (“the freehold”),
- purchase a commercial lease with a fixed term (“the Leasehold”);
- or either rent commercial space
Or transform another type of premises (e.g. a shop) into a restaurant, but in this case it will be necessary to obtain a building permit due to the change in use of the premises. In addition to the information you will get from the Chamber of Commerce, our estate agents will be able to advise you on these issues when buying in London.
An essential support in the creation of your business in London
From the validation of the project upstream to the final signature of the contract, there are agencies that will accompany you in each phase of the acquisition process:
- Project validation: our expertise and our perfect knowledge of the market enable us to help you refine your strategy and in particular to know in which area of London you will set up your business in relation to your clientele and your establishment budget.
- Prospecting of the whole market with real estate agencies in London specialized in commercial property.
Selection of shops and restaurants that meet your criteria.
- Pre-visits of the most interesting properties
- Negotiation of the terms of the contract in conjunction with a specialized French-speaking commercial lawyer
Offering corporate gifts to build customer loyalty
Open a bank account in England