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Founded in 2008. The Landscape Juice Network (LJN) is the largest and fastest growing professional landscaping and horticultural association in the United Kingdom.

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PRO
HiMy dad's been looking at buying a commercial property as an investment for me to run my business from.We've seen somewhere that maybe suitable ( I don't want to elaborate ) the only thing is it is vastly overpriced as it is in a state of disrepair.It is being sold on behalf of the administrators of a company that went bust last year and has been on the market since then.My question is - does anyone know if the administrators are legally obliged to accept an offer or can they hold out for the best price.

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  • The administrators job is to get the best possible price for any assets.

    If you offered £1.00 (hypothetically) for the property & no body else offered any more or when put to auction there was no bids then they would have to take your offer.

    Go in with an offer you feel it is worth taking building work into account less 15%, then if they say it has to be more you can increase your offer a bit at a time (Do  not rush in with your higher offers let them sweat) 

  • PRO
    Go talk to your friendly commercial property company - ie one you work for that has a RICS surveyor as a senior member / director and sweet talk him to helping you negoiate.

    They know the current trend, typical price per sq foot, likely maintenance isssues, whether it's been on a FRI lease before it was offered for sale.

    My friendly contact helped us out tremendously as he ran rings around the owner and helped us achieve a good reduction.

    They can also help ensure your property is correctly rated for business rates.
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