The Commercial Property Podcast

Episode 95 – Business Rates and Empty Property: Problem or Opportunity?
Would business rates put you off buying an empty commercial property?
For many investors — particularly those moving from residential into commercial property — the thought of owning a vacant building with no rent coming in AND business rates to pay can be enough to make them walk away.
But should it?
Suzi Carter certainly isn't frightened of vacant commercial property. In fact, sometimes an empty property can be exactly where the opportunity lies.
The key is understanding why the property is vacant, what it could cost you while you own it and, crucially, whether you have evidence that you can solve the problem.
In this episode of The Commercial Property Podcast, Suzi explains how business rates work on empty commercial properties in England, including Empty Property Relief, the longer relief period available to qualifying industrial properties, and some of the legitimate ways business rates may be mitigated.
She also looks at the recent Court of Appeal decision on so-called "box-shifting" business rates mitigation schemes, what it could mean for owners of vacant commercial property and why changes to rates mitigation could potentially create opportunities for informed investors.
Because if other buyers become nervous about empty properties — while existing owners face increasing holding costs — could that create less competition, more motivated sellers and better buying opportunities for investors who understand the numbers?
In this episode, you'll discover:
How business rates on empty commercial property actually work

Why most empty commercial properties receive an initial period of Empty Property Relief

Why qualifying industrial and warehouse properties can receive a longer rates-free period

Why buying a vacant property doesn't necessarily restart the Empty Property Relief clock

The importance of checking the current rateable value and business rates liability before you buy

How the April 2026 business rates revaluation affects the figures investors should be using

Legitimate circumstances where business rates may potentially be reduced or mitigated

How substantial refurbishment can affect the rating position where a property genuinely becomes incapable of occupation

What investors need to understand about charitable occupation and business rates relief

How the controversial "box-shifting" rates mitigation strategy worked

What the recent Court of Appeal decision could mean for business rates mitigation schemes

Why you shouldn't rely on a clever rates mitigation strategy to make a fundamentally poor property investment stack up

How to calculate the true cost of a commercial property void, including rates, finance, insurance, security, refurbishment and letting costs

Why understanding occupational supply and demand before you buy is one of your best protections against a prolonged void

How speaking to local commercial agents can help you establish whether genuine tenant demand exists

Why you may even be able to pre-let a vacant commercial property before you complete the purchase

How refurbishment, reconfiguration, subdivision and other asset-management strategies can turn vacancy into opportunity

Why having multiple exit strategies matters when buying vacant commercial property

How changes to business rates mitigation could potentially create motivated sellers and less competition for vacant properties

Empty Property: Risk or Opportunity?
Vacancy is a risk in commercial property — but that doesn't automatically make a vacant property a bad investment.
Sometimes the vacancy is the opportunity.
Perhaps the building needs refurbishing. Perhaps it's the wrong configuration for the local market. Perhaps it could be subdivided. Perhaps the previous landlord has been asking the wrong rent. Or perhaps there's plenty of occupational demand and the property simply hasn't been marketed effectively.
The important thing is not to guess.
Understand supply and demand, speak to local letting agents, investigate competing properties, establish realistic rents and void periods and, where possible, start looking for your tenant before you complete.
Then put the true cost of the void — including business rates — into your appraisal.
As Suzi says in this episode:
"Don't be frightened by the problem. Price the problem — and work out whether you can solve it."
Because if other investors see an empty building and a business rates bill and immediately walk away, while you've done the research and understand exactly how you're going to create value...
their problem could potentially become your opportunity.
Want to Learn How to Find and Analyse Commercial Property Opportunities?
Finding a good commercial property isn't simply about finding a high yield or buying whatever happens to be on the market.
It's about knowing what to look for, understanding the risks, analysing the occupational market and recognising problems you can profitably solve.
If you'd like to build your commercial property knowledge and learn how Suzi approaches real investment opportunities — including niching, sourcing, tenants, leases, deal analysis, asset management and creating value — visit www.suzicarter.com.
You'll find Suzi's commercial property training and mentoring, including the Commercial Property Academy, where investors can build their knowledge, analyse real deals and develop the confidence to make better-informed commercial property investment decisions.
 Visit www.suzicarter.com to take your next step.
And if you know a property investor who says "I'd never buy an empty commercial property", send them this episode.
It might just change the way they look at the next vacant building they find! 
 Subscribe to The Commercial Property Podcast so you never miss an episode.

Episode 94 – The High Street Is Dead. Offices Are Finished. Really?
"The high street is dead."
"Nobody wants offices anymore."
"Why would anyone invest in retail?"
Suzi heard comments very much like these while speaking about commercial property recently — and they got her thinking.
Because there are certainly high streets she wouldn't touch with a bargepole, and there are offices she wouldn't buy at almost any price.
But does that mean all high streets are dead? Or that all offices are finished?
Absolutely not.
In this episode of The Commercial Property Podcast, Suzi challenges some of the sweeping assumptions investors make about different commercial property sectors and explains why commercial property isn't one market.
A struggling secondary high street with lots of empty units is very different from an affluent market town with strong footfall, thriving independent businesses and hardly anything available to let.
And an enormous, outdated office building with little occupier demand is very different from a smaller office in a location where so much stock has been converted to residential that good-quality office space has actually become scarce.
The important question isn't whether retail, offices or any other commercial property sector is "good" or "bad". It's whether THIS property, in THIS location, at THIS price, with THIS occupational market, makes sense.
And that's where niching, local knowledge and proper research become so important.
In this episode, you'll discover:
Why sweeping statements such as "the high street is dead" can cause investors to overlook opportunities

Why Suzi believes there is no single "retail market" or "office market"

How to identify commercial property niches where genuine demand and scarcity may exist

Why occupier demand matters just as much as investor demand

What properties currently available to let can tell you about a market

Why local commercial agents can provide invaluable evidence about what is — and isn't — letting

How changing consumer behaviour can create opportunities rather than simply destroy them

Why the conversion of office stock to residential can sometimes create scarcity in the remaining office market

The danger of buying into fashionable sectors simply because everybody else is doing it

How to distinguish between a genuinely struggling market and a sector that investors may simply have written off

Practical ways to research a niche before committing your money

Perhaps most importantly, Suzi explains why good commercial property investing isn't about following headlines.
It's about understanding your market, your niche, your occupier and your property.
So, the next time somebody tells you the high street is dead, ask them:
"Which high street?"
And when somebody tells you offices are finished, ask:
"Which offices, in which town, at what size and at what rent?"
Because the opportunity may be hiding in the detail everybody else has ignored.
Could Your Assumptions Be Causing You to Miss Opportunities?
Finding good commercial property isn't simply about searching for what's currently fashionable.
It's about knowing where to look, what to look for and how to test whether the opportunity you think you've spotted actually stacks up.
If you'd like to learn how Suzi approaches commercial property investing — from identifying your niche and understanding occupational demand to analysing deals, tenants, leases, risks and opportunities to create value — visit www.suzicarter.com.
You'll find details of Suzi's commercial property training, the Commercial Property Academy, and the different ways you can work with her to become a more knowledgeable and confident commercial property investor.
 Visit www.suzicarter.com
And if you know an investor who has ever told you "the high street is dead" or "nobody wants offices anymore", send them this episode.
You might have a rather interesting conversation afterwards! 
 Subscribe to The Commercial Property Podcast so you never miss an episode.

Episode 93 – Stop Waiting to Feel Ready: How Commercial Property Investors Actually Get Started!
How long have you been thinking about investing in commercial property?
A few months?
A year?
Maybe longer?
If you keep telling yourself you need to learn a little more, understand the market better, wait for interest rates to change, find the perfect deal or simply feel more confident before you start…
This episode is for you.
Because after more than 30 years in property, Suzi Carter has learned something very important:
You will probably never feel completely ready.
And the investors who make progress aren't necessarily those who know the most. They're the ones who learn enough to take the next sensible action — and then keep going.
In this episode of The Commercial Property Podcast, Suzi gets very practical about what it actually takes to move from thinking about investing in commercial property to behaving like a commercial property investor.
She explains why endlessly consuming information can sometimes become a very respectable form of procrastination, why confidence comes from looking at real deals rather than waiting until you know everything, and how small, consistent actions can compound into genuine opportunities.
You'll also hear why looking at a deal that goes nowhere isn't necessarily wasted time, why a rejected offer can still move you forward, and how the agent who says "no" today could be the person who calls you with an off-market opportunity six months from now.
In this episode, you'll discover:
How to recognise when learning has turned into procrastination

Why you don't need to know everything before you start

How analysing real deals develops the pattern recognition experienced investors rely on

Why there really is no such thing as the perfect commercial property

The difference between taking action and simply buying something

Why rejected offers, unsuitable deals and unsuccessful viewings aren't necessarily failures

How to investigate real occupational demand, rather than simply browsing properties for sale

Why relationships with commercial agents can become one of your biggest sources of opportunity

Why Suzi believes real confidence comes from evidence, not motivation

How small actions repeated consistently can compound into something much bigger

The practical steps Suzi would take this week if she were starting again

Suzi's Seven-Day Commercial Property Challenge

Your Seven-Day Challenge
Don't just listen to this episode and move on to the next one.
For the next seven days, do one thing every day that moves you closer to owning a commercial property.
Ring an agent. Research your niche. Look at competing properties to let. Drive an area. Analyse a deal. Speak to a broker. Arrange a viewing. Talk to an occupier. Make an offer.
It doesn't need to take hours.
But it does need to be action rather than more passive learning.
At the end of the seven days, ask yourself:
"Am I closer to owning a commercial property than I was last week?"
That's how momentum starts.
Ready to Stop Thinking About Commercial Property and Start Doing It?
If this episode has struck a chord and you're ready to turn your interest in commercial property into action, Suzi can help you take the next step.
Visit www.suzicarter.com to discover Suzi's commercial property training and mentoring, including the Commercial Property Academy, where investors learn how to assess opportunities, understand leases and tenants, analyse deals, create value and build the confidence to take action in the real commercial property market.
Don't wait until you feel ready. Start becoming ready by doing.
 Visit www.suzicarter.com and take your next step.
And if you know someone who has been talking about investing in commercial property for months — but still hasn't quite started — send them this episode!
 Subscribe to The Commercial Property Podcast so you never miss an episode.

Episode 92 – Why Good Residential Investors Get Commercial Property Wrong!
You've successfully invested in residential property for years. You understand property, finance, tenants and how to create value.
So moving into commercial should be fairly straightforward… shouldn't it?
Not necessarily.
In fact, some of the instincts that make you a successful residential investor can lead you to make expensive mistakes in commercial property.
Because commercial property isn't simply residential property with a business tenant.
The rules are different.
In this episode of The Commercial Property Podcast, Suzi Carter reveals the biggest mindset shifts residential investors need to make when moving into commercial — and the assumptions they need to leave behind.
Why might an ugly industrial unit be a better investment than a beautiful shop?
Why could two identical buildings next door to each other be worth completely different amounts?
Why isn't a 9% yield necessarily better than a 6% yield?
And why could changing a few words in a lease potentially create more value than spending thousands refurbishing a building?
This episode is about learning to look at commercial property through a different pair of spectacles.

_____________________________________
In this episode, you'll discover:
Why occupier demand should come before investment demand

Why commercial value is driven by much more than the bricks and mortar

How the tenant, lease, covenant and rent can transform the value of an investment

Why a high yield can sometimes be a warning rather than an opportunity

The question Suzi asks: "If this tenant disappeared tomorrow, who would actually take this building?"

Why residential-style refurbishment isn't always the best way to create value

How commercial investors can create value on paper through rents, leases, regears, breaks, planning and title

Why a £1 million property doesn't automatically mean a lender will give you a £750,000 mortgage

The commercial due diligence issues residential investors may never have encountered

Why a fully let property isn't automatically safe — and a vacant property isn't automatically risky

Why your exit strategy should start before you buy

_____________________________________
If you're a successful residential investor thinking about moving into commercial, the message isn't to forget everything residential property has taught you.
It's this:
Know which rules no longer apply.
Because residential investing often rewards you for understanding property.
Commercial investing requires you to understand property, leases, businesses, finance and the future demand for that asset.
Get that shift right and commercial property opens up a completely different way of investing — including the ability to create significant value without necessarily laying a single brick.
_____________________________________________
Ready to Take the Next Step?
If this episode has made you realise there's more to commercial property than simply finding a building with a good yield, the next step is to learn how to assess a commercial opportunity properly before you put your money into it.
Join Suzi for the Commercial Property Blueprint, a full-day online training where she'll take you through how she approaches commercial property, assesses deals, identifies risk and finds opportunities to create value.
You'll learn the fundamentals you need to start looking at commercial property with an investor's eye — rather than applying residential rules to a completely different market.
Find out more and book your place at https://hub.commercialpropertyacademy.co.uk/blueprint or find out more about the training Suzi offers at  www.suzicarter.com
 And don't forget to subscribe to The Commercial Property Podcast so you never miss an episode.
If you know a residential investor who's starting to look at commercial property, send them this episode before they buy anything!

Episode 91 – Would Anyone Buy This Property From Me in Five Years?
You might have found a great commercial property. The numbers stack up, the tenant looks good and the yield is attractive.
But there's another question you need to ask before you buy:
Who is going to buy it from you when you want to get out?
In this episode of The Commercial Property Podcast, Suzi Carter explains why some of the most important decisions about selling a commercial property should actually be made before you buy it.
Because your exit isn't just about what happens to the property market.
A 15-year lease today becomes a 10-year lease in five years. Wait longer and the remaining term gets shorter again. That can change how investors view the risk, how lenders view the property, the yield a future purchaser might require and, ultimately, the price they are prepared to pay.
Suzi explains why understanding your future buyer is so important, how to think about the optimum time to sell and why good asset management can potentially make a property considerably more attractive when the time comes to exit.
You'll also discover why the best exit strategy isn't necessarily simply to sell. It could be to regear a lease, remove a break, improve the rent, refinance, reposition the property or create several different exit options.
In this episode, you'll discover:
Why Suzi considers the exit before buying a commercial property

The question every investor should ask: "Who is going to buy this from me?"

Why the size of your future buyer pool matters

How a shortening lease can affect yield, value and saleability

Why selling in year five rather than year seven or ten could make a significant difference

How relatively small movements in yield can create large movements in capital value

Why your future buyer's lender matters almost as much as the buyer

When a lease regear or extension could be more valuable than selling

How asset management can widen your future buyer pool

Why specialist properties and changing occupier demand need particularly careful thought

How to spot potential obsolescence before you buy

Why Suzi prefers properties with more than one potential exit

How to reverse-engineer a commercial property investment from the eventual sale

The key lesson is simple:
Don't just ask whether you want to buy the property today. Ask whether someone else will want to buy it from you tomorrow — and what you can do during your ownership to make them want it even more.
Because a successful commercial property investment isn't simply about buying well.
It's about creating value, protecting value and ultimately being able to realise that value.
Learn More
Want to become better at analysing commercial property opportunities, understanding risk and spotting the asset management opportunities that other investors miss?
Visit www.suzicarter.com for commercial property training, resources, live events and information about working with Suzi.
And don't forget to subscribe to The Commercial Property Podcast so you never miss an episode.
If this episode makes you look differently at your next commercial property investment, please share it with another property investor who needs to hear it.