Firms 'should show caution with property' - commercial mortgages

28 May 2009

Businesses should not be focusing on "what ifs" when it comes to organising office space and commercial property, according to one expert.

Speaking at a GVA Grimley/Confederation of British Industry seminar in Leeds last week, Howard Cooke, a director in the corporate consulting team at the former, said firms often do not plan when ahead when it comes to their property portfolios.

Those who have been approved commercial mortgages and are looking to expand should be cautious, he explained, although he admitted the situation has improved recently.

"I think some businesses are very good in understanding what they've got and where they are going with property," Mr Cooke said. "But for a lot, in the good times it's very much a focus on: 'Things are going strong, we need more space, let's get on with it'."

He added that companies need to consider the long-term effects when it comes to property.

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