=
MediEstates - Navigating the post-pandemic property market
Navigating the post-pandemic property market

Navigating the post-pandemic property market

 

 

It’s no understatement to suggest that the last 18 months have had a significant impact on industries and individuals alike. With the unexpected advent of Covid-19, uncertainty was the byword for much of 2020, and even now as we head into the latter half of 2021, nothing is set in stone.

 

 

But how has the pandemic impacted the property market, and what should potential investors bear in mind moving forward?

 

First of all, it’s important to remember that the commercial property market and the residential property market are intrinsically linked. Any big change that impacts the residential market tends to have a knock-on effect for commercial properties, and this has meant that a number of important changes during the pandemic are likely to affect the way that professionals buy in the future.

 

During the pandemic, the stamp duty holiday granted by the government from July 2020 to June 2021 in order to boost the UK property market made a substantial difference. Many saw this as a good time to invest in new property, commercial or otherwise, which consequentially meant that prices remained stable and even boomed during this period. In fact, the market is very buoyant at this time and in some respects even stronger post-pandemic than it was before.

 

This has undoubtedly also been fuelled by the change to people’s working lives that is still ongoing. The pandemic put the traditional working day under a spotlight, and many businesses have opted to become more flexible, allowing people to work from home and to appreciate a better life balance. People also took this time to reprioritise what is important in their lives, with many coming to the conclusion that they want more flexible working lives and more time for family and hobbies. As such, many individuals are now looking to escape the confines of large towns and cities and find properties with more space, a garden – desirable features that aren’t necessarily achievable in their current location.

 

Offices are being downsized, and the high street as we know it is changing, with giant stores such as Debenhams recently closing. This shift was already happening, but the pandemic has accelerated these changes. Both of these factors are transforming the image of traditional town centres and city districts.

 

For prospective buyers looking to invest in a new dental practice, this means that there’s likely to be a wider scope of options available. Potential buyers should consider what their aims are and see how commercial properties in certain areas match up to their expectations. For example, if someone is looking to achieve more of a work/life balance, it would make sense for them to invest in a location where properties incorporate features such as gardens and more space, especially as these areas are likely to now see an influx of professionals from big cities and towns. It’s worth looking at the demographics of the area you want to move to – if you are a professional specialising in dental implants, for example, then it would be wise to move to an area where the patients in your catchment area are of an age and have the means to make the most of your treatment opportunities. These properties are also an investment, and buying in these areas means that you are likely guaranteed a secure income, especially as property values have, on average, doubled every 7 years for the last century.

 

MediEstates offers professionals a comprehensive, detailed service for those looking to invest in new property. This service includes demographic reports of locations professionals might consider buying property in, as well as key market insights that are specifically tailored to the dental profession. In this way, MediEstates helps clinicians to make informed investment choices that will set them up for a financially stable future.

 

For more information, contact MediEstates on 01332 609318 or

visit www.mediestates.co.uk

 

Posted by: Gareth Walton on

General Buyer Terms 

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 2018. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
Your shortlist contents will be included in this contact submission