The Commercial Property Podcast

Suzi Carter
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  • Investing
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Welcome to The Commercial Property Podcast, the go-to podcast for anyone looking to master the art of commercial property investing. Hosted by Suzi Carter, Chartered Surveyor and founder of the Commercial Property Academy, this podcast is packed with actionable insights, expert interviews and real-world strategies to help you navigate the dynamic world of investing in commercial real estate. Whether you're just starting out or looking to scale your portfolio, we cover everything from market trends and financing tips to sourcing deals and maximising returns. Tune in for honest discussions, valuable advice and practical steps to take your investing journey to the next level. Subscribe now and join a community of commercial property investors turning opportunities into success!

  1. 5d ago

    The Art of Reading a Commercial Lease Without Feeling Overwhelmed

    Episode 79 - The Art of Reading a Commercial Lease Without Feeling Overwhelmed In this episode of the Commercial Property Podcast, Suzi Carter breaks down one of the most important — and often most intimidating — aspects of commercial property investing: understanding commercial leases. For many investors moving from residential into commercial property, leases can initially feel overwhelming. The terminology, clauses, legal language, and sheer length of some agreements can put people off before they even get started. But the reality is that leases are one of the biggest drivers of value in commercial property investing. In this episode, Suzi explains why learning how to read a commercial lease properly can completely change the way you assess deals, manage risk, and build long-term wealth through commercial property. She shares practical insights into the key lease clauses every commercial property investor should understand, including lease length, rent reviews, break clauses, repairing obligations, alienation clauses, and tenant covenant strength. She also explains how these lease terms directly influence commercial property valuations, bank lending, tenant security, and future exit strategies. Rather than feeling overwhelmed by legal documents, Suzi shows investors how to approach leases with confidence and clarity, helping them understand what really matters when assessing a commercial investment opportunity. The episode also explores how experienced investors use lease analysis to uncover hidden opportunities, negotiate stronger deals, and identify value that others may miss. Whether you are brand new to commercial property investing or already own commercial assets, this episode will help you better understand how leases underpin value, income, and risk in commercial real estate.  Key Topics Covered: Why commercial leases are one of the biggest drivers of property value How to read a commercial lease without feeling overwhelmed Understanding key commercial lease clauses and terminology The importance of lease length, tenant quality, and covenant strength How rent reviews impact income and valuations Understanding break clauses and how they affect investment risk Repairing obligations and Full Repairing and Insuring (FR&I) leases explained How leases influence commercial property finance and bank lending Using lease analysis to identify hidden value and opportunities Building confidence when analysing commercial property deals  Key Learning Outcomes Understanding Commercial Leases Learn why leases are fundamental to commercial property investing and how they influence both value and risk. Reading Leases With More Confidence Discover a practical approach to reviewing leases without becoming overwhelmed by legal terminology. Understanding Key Lease Clauses Gain insight into the lease provisions that can significantly affect income, tenant stability, and future value. Recognising Investment Risk Understand how break clauses, tenant covenant strength, and lease structure impact risk and financing. Using Leases to Create Value Learn how experienced commercial investors use lease analysis to spot opportunities and strengthen deal performance. Listen and Learn More If you'd like to learn more about commercial property investing — and how to build predictable income and long-term wealth through smarter commercial property strategies — you can find training, resources, events, and mentoring at www.suzicarter.com You can also listen to more episodes of The Commercial Property Podcast for practical insights, strategies, and real-world commercial property education.

    24 min

  2. May 22

    The Most Profitable Commercial Deals Are Often the Least Instagrammable; Why Experienced Investors Focus on Income, Leases, and Tenant Demand — Not Pretty Buildings

    Episode 78: The Most Profitable Commercial Deals Are Often the Least Instagrammable; Why Experienced Investors Focus on Income, Leases, and Tenant Demand — Not Pretty Buildings In this episode of The Commercial Property Podcast, Suzi Carter explores one of the biggest mindset shifts investors must make when moving from residential into commercial property investing. In residential property, social media is full of glossy refurbishments, luxury interiors, and dramatic before-and-after transformations. But in commercial property, some of the most profitable deals are often the least attractive on the surface. In fact, many experienced investors actively seek out buildings that look uninpressive but perform exceptionally well financially. Suzi explains why commercial property value is driven far more by income, lease structure, tenant demand, and business functionality than by aesthetics. A plain industrial unit with strong tenant demand and a long lease can often outperform a beautifully refurbished building with weak fundamentals. The episode explores how experienced commercial investors assess opportunities differently. Rather than focusing on emotion or appearance, they look at the strength of the tenant covenant, the quality of the location, the lease terms, and the potential to increase value through strategic asset management. Suzi also discusses why many overlooked or "ugly" assets can create significant opportunities for investors who understand how commercial property really works. From lease restructures and rent reviews to reconfiguring space and improving operational performance, commercial investors can often force value without carrying out expensive refurbishments. This episode is particularly valuable for residential investors transitioning into commercial property, as it highlights the key differences between the two sectors and explains why commercial investing is often more about strategy, income, and problem-solving than appearance. If you want to understand how experienced investors really assess commercial property opportunities — and why some of the best deals would never make it onto Instagram — this episode is essential listening.  Key Topics Covered • Why aesthetics matter far less in commercial property investing • The importance of tenant demand, lease structure, and location • Understanding what businesses actually need from commercial space • Why "ugly" commercial assets can outperform visually attractive properties • Asset management strategies that create value without major refurbishments • The difference between emotional investing and fundamentals-based investing • How commercial investors increase value through lease restructuring and operational improvements • Common mistakes residential investors make when moving into commercial property • Why income and tenant quality drive commercial property values • The commercial property fundamentals every investor should understand  Key Learning Outcomes • Understanding how commercial property is valued differently from residential property • Learning why tenant demand and leases are often more important than appearance • Recognising the opportunities hidden within overlooked commercial assets • Understanding how to create value through asset management rather than refurbishment • Developing a more strategic, fundamentals-based investment mindset • Learning how experienced investors identify profitable commercial opportunities Listen and Learn More If you'd like to learn more about commercial property investing — and how to build predictable income and long-term wealth through smarter strategies — you can find training, resources, and upcoming events at Suzi Carter You can also explore more episodes of The Commercial Property Podcast via YouTube Channel

    19 min

  3. May 15

    Why Every Commercial Property Investor Must Watch the Bond Markets

    Episode 77: Why Every Commercial Property Investor Must Watch the Bond Markets In this episode of the Commercial Property Podcast, Suzi Carter explores why every commercial property investor should pay close attention to the bond markets — and in particular, UK gilt yields — when making investment decisions. Suzi breaks down the relationship between bond markets, interest rates, investor sentiment, and commercial property pricing in a clear and practical way. She explains how rising or falling gilt yields can directly influence borrowing costs, commercial property yields, and ultimately the value of property assets across the market. The episode also looks at how wider economic confidence and political stability can impact the bond markets, and why periods of uncertainty often create both risk and opportunity for investors who understand how the market works. Drawing on real-world market conditions, Suzi discusses how commercial property investors can use these signals to make better strategic decisions, assess timing, negotiate more effectively, and understand where value may emerge during changing market cycles. Rather than getting caught up in headlines, this episode helps investors understand the bigger picture behind the numbers — and why the bond markets often tell us where commercial property values may move next. ______________________________________________  Key Topics Covered: Gilt and bond yields explained in simple terms How bond markets influence commercial property values The relationship between interest rates, borrowing costs, and yields Why investor sentiment and economic confidence matter How market uncertainty creates both risks and opportunities Practical ways investors can interpret market signals  Key Learning Outcomes Understanding what gilt yields are and why they matter Learning how commercial property yields are linked to the bond markets Recognising the impact of economic and political stability on investor confidence Understanding why property prices can rise or fall alongside changes in yields Identifying opportunities during periods of market uncertainty Developing a more strategic approach to commercial property investing Listen and Learn More If you'd like to learn more about commercial property investing — and how to build income and long-term wealth through smarter strategies — you can find training, resources, and events at Suzi Carter

    27 min

  4. May 8

    Upward Only Rent Reviews Have Been Banned - So Where is the Opportunity?!

    Episode 76: Upward Only Rent Reviews Have Been Banned – So Where is the Opportunity?! In this episode of the Commercial Property Podcast, Suzi Carter breaks down one of the biggest proposed changes to commercial property leasing in decades — the Government's move to ban Upward Only Rent Reviews in certain commercial leases. For many investors, this has triggered concern around valuations, lending, lease structures, and future income security. But as Suzi explains in this episode, periods of uncertainty and market change often create some of the greatest opportunities for knowledgeable commercial property investors. Suzi explores what the legislation actually says, why the market is reacting so strongly, and the important distinction between existing leases and future lease renewals that may potentially fall within the new rules. She also discusses the secondary legislation still being developed behind the scenes and why, in her view, investors should avoid panicking whilst the detail continues to evolve. The episode also looks at how the commercial property market may adapt over the coming years, including the likely rise of more flexible lease structures such as CPI-linked reviews, stepped rents, turnover rents, and hybrid lease models. Importantly, Suzi explains why this shift could actually widen the gap between average investors and highly skilled commercial investors — creating significant opportunities for those who truly understand lease structures, tenant demand, asset management, and value creation. She also discusses why periods of uncertainty often lead to softer pricing, more motivated vendors, and greater opportunities for strategic investors who know how to navigate changing market conditions. As always, the focus is not just on the risks — but on where the opportunities may emerge next.  Key Topics Covered: What the Upward Only Rent Review legislation actually means Why the market is reacting so strongly The potential impact on valuations, lending, and investor confidence Existing leases versus future lease renewals Secondary legislation and ongoing uncertainty How lease structures may evolve going forward CPI-linked reviews, stepped rents, turnover rents, and hybrid leases Why expertise and asset management skills may become even more valuable How uncertainty can create buying opportunities and softer pricing The importance of tenant quality, sector selection, and lease strategy  Key Learning Outcomes Understanding how Upward Only Rent Reviews work The potential implications of the new legislation How lease structures influence commercial property value Why sophisticated investors may benefit from market uncertainty The likely evolution of commercial leasing structures Strategies for navigating changing market conditions Why knowledge and expertise create competitive advantage in commercial property Listen and Learn More If you'd like to learn more about commercial property investing — and how to build income and long-term wealth through smarter strategies — you can find training, resources, and events at: Suzi Carter

    31 min

  5. May 1

    Lease Renewals Explained – The Process, the Pitfalls and the Profit Opportunity

    Episode 75: Lease Renewals Explained – The Process, the Pitfalls and the Profit Opportunity In this week's episode of The Commercial Property Podcast, Suzi Carter dives into one of the most important — and often overlooked — areas of commercial property investing: lease renewals. Many investors focus heavily on finding deals and buying assets, but what happens after purchase can be where serious value is protected, created, or lost. Lease renewals are a perfect example of this. Handled well, they can strengthen income, improve valuation, reduce risk, and make a property far more attractive to lenders and future buyers. Suzi explains how lease renewals work in practice, including the key principles of the Landlord and Tenant Act 1954, and why understanding the legal framework matters if you own or are buying commercial property in the UK. She also explores how lease length can directly affect value. A short lease or uncertain income stream may concern banks, valuers, and purchasers, whereas a well-structured longer lease with the right tenant can significantly improve an asset's position. Throughout the episode, Suzi shares practical strategies for approaching renewals, negotiating stronger lease terms, extending income security, and handling discussions with tenants professionally and commercially. If you want to become a smarter commercial property investor, understanding lease events such as renewals is essential. This is where proactive asset management can make a meaningful difference to returns. In This Episode, You'll Learn: Lease renewals and why they matter more than many investors realise. How the Landlord and Tenant Act 1954 can affect your strategy as a landlord or investor. Why lease length has a major impact on value, risk, and lender appetite. How to negotiate renewals from a stronger commercial position. Ways to reduce void risk and improve long-term asset performance. How better lease management can support refinancing or future sale plans. Key Takeaways: Commercial property is not just about buying well — it is also about managing well. Lease renewals can unlock value, improve certainty, and reduce unnecessary risk. Small strategic decisions around lease terms can have a big impact on valuation. Investors who understand leases often outperform those who only focus on acquisition. Listen and Learn More If you'd like to learn more about commercial property investing — and how to build income and long-term wealth through smarter strategies — you can find training, resources, and events at www.suzicarter.com

    24 min

  6. Apr 24

    Why Sentiment Governs Markets — And How You Can Use It to Your Advantage in Commercial Property Investing

    Episode 74: Why Sentiment Governs Markets — And How You Can Use It to Your Advantage in Commercial Property Investing In this week's episode of The Commercial Property Podcast, I'm diving into something that most investors completely underestimate—but that quietly drives almost every decision made in the market: sentiment. If you've ever wondered why markets feel irrational, why prices rise too far or fall too fast, or why the best opportunities often appear when everyone else is sitting on their hands, this episode will really help you join the dots. Because behind all the data, yields, and spreadsheets, it's human behaviour—and more specifically, emotion—that is shaping the market at any given time. I talk through how sentiment moves in cycles, from confidence and optimism at the top of the market to fear and hesitation at the bottom. And more importantly, how those emotional swings create mispricing. This is where the real opportunity lies for commercial property investors who are prepared, informed, and able to think differently. We also explore what this means in today's market. When sentiment is low, deals don't disappear—if anything, they become more attractive. Vendors become more motivated, competition reduces, and pricing often softens. But the key is knowing how to assess those opportunities properly, rather than being swept up in the same fear that's keeping others on the sidelines. Throughout the episode, I bring it back to fundamentals. Understanding tenant demand, choosing the right sector, analysing lease terms, and carrying out proper due diligence are what allow you to invest with confidence—even when the wider market feels uncertain. This is where strategy matters, and where you can start to separate yourself from the average investor. I also touch on the idea of thinking contrarian—because some of the best commercial property investments are made when it feels uncomfortable to act. That doesn't mean taking unnecessary risks, but it does mean being willing to move when others won't, provided the fundamentals stack up. This episode is all about helping you see the market more clearly. Not through headlines or noise, but through a deeper understanding of what's really driving behaviour—and how you can use that to your advantage in your own investing journey. If you're serious about building wealth through commercial property, and you want to understand how to spot opportunities others miss, this is a really important listen. If you'd like to go deeper into how commercial property investing works—and how to apply these principles in practice—you can find more training, resources, and upcoming events at: https://suzicarter.com/

    26 min

  7. Apr 17

    The 7 Numbers Every Commercial Property Investor Must Know (and What They Actually Mean!)

    Episode 73: The 7 Numbers Every Commercial Property Investor Must Know (and What They Actually Mean!) In this week's episode, I'm breaking down what I believe are the seven key numbers every commercial property investor needs to understand if they want to assess deals properly and invest with confidence. Because the truth is, once you understand these numbers, commercial property becomes far more straightforward — and far less intimidating. We go beyond just listing the metrics and really dig into what they actually mean in practice. From yield and how it reflects risk, through to passing rent versus ERV, and why that gap can signal opportunity (or a warning sign), this episode is all about helping you interpret what you're looking at — not just calculate it. I also talk about lease length and break clauses, and how these can significantly impact value and security of income. We cover WALT (or WAULT, depending on who you ask!) and why it's such an important indicator for both lenders and investors. And, of course, we look at tenant covenant strength — because ultimately, your deal is only as strong as the business paying the rent. We also touch on price per square foot as a useful benchmarking tool, and why no single number should ever be looked at in isolation. The real skill in commercial property is bringing all of these metrics together to form a clear, confident view on whether a deal stacks up. By the end of this episode, you'll have a much clearer understanding of how to assess commercial property opportunities using these core numbers — and, more importantly, how to use them in a practical, real-world way. If you'd like to learn more about how commercial property works — and how to get started — you can find more training, resources, and upcoming events at: www.suzicarter.com

    21 min

  8. Apr 10

    The Window Is Open — But Not for Everyone: Who Should (and Shouldn't) Be Buying Commercial Property Right Now

    Episode 72.The Window Is Open — But Not for Everyone: Who Should (and Shouldn't) Be Buying Commercial Property Right Now There's a lot of noise in the market right now. Global uncertainty, shifting sentiment, and headlines that can make even experienced investors pause. But if you've been listening to me for a while, you'll know this is exactly the kind of environment where real opportunity starts to emerge. The key is understanding that this isn't a market for everyone. In this episode, I'm sharing a grounded and strategic view of the UK commercial property market right now. We look at what's really happening beneath the headlines, how market sentiment is influencing pricing and activity, and why this current window of opportunity is very real — but only for those who approach it in the right way. I draw on lessons from previous downturns, including 2008, to highlight what tends to happen when markets soften, and where the smartest investors focus their attention. Because while uncertainty can create hesitation, it also creates motivated sellers, better pricing, and opportunities to structure deals in ways that simply aren't available in stronger markets. We also talk about the importance of niching in commercial property, understanding tenant demand at a very granular level, and making sure your strategy is aligned with where the market is heading — not where it's been. But just as importantly, I cover who should not be investing right now. Because not every investor is in the right position to take advantage of this window. If you don't have clarity on your strategy, your numbers, or your risk tolerance, this market can catch you out. And being honest about that is what separates long-term success from expensive mistakes. This episode will help you step back, sense-check your approach, and decide whether now is the right time for you to move — or whether your next best step is to get better prepared. What You'll Learn in This Episode: In this episode, I walk you through what's really driving the commercial property market right now, including how global uncertainty and shifting sentiment are influencing pricing, yields, and investor behaviour. We look at how markets behaved during previous downturns, and what lessons you can take from those periods to apply today. I also explain how to identify genuine opportunities in uncertain conditions, including how to spot motivated vendors, structure deals more creatively, and focus on sectors and locations with resilient tenant demand. Alongside this, we explore the importance of strategic niching, and why getting specific in your approach is more important than ever. Crucially, we also cover the risks. You'll learn how to assess whether you're actually ready to invest in this market, what to look for when analysing tenant strength and lease terms, and how to protect yourself through careful due diligence and conservative assumptions. Is This Market Right for You? One of the biggest takeaways from this episode is that just because the window is open, it doesn't mean everyone should be climbing through it. This is a market that rewards clarity, discipline, and strategy. It suits investors who understand their numbers, know their niche, and are willing to do proper due diligence. It is far less forgiving for those who are rushing in, following the crowd, or hoping for quick wins without fully understanding the risks. If that resonates, this episode will give you a clear framework to think about your next move. Learn More About Commercial Property Investing If you'd like to learn more about how commercial property investing works — and how to do it in a strategic, structured way — you can find more training, resources, and upcoming events at: www.suzicarter.com

    19 min
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Welcome to The Commercial Property Podcast, the go-to podcast for anyone looking to master the art of commercial property investing. Hosted by Suzi Carter, Chartered Surveyor and founder of the Commercial Property Academy, this podcast is packed with actionable insights, expert interviews and real-world strategies to help you navigate the dynamic world of investing in commercial real estate. Whether you're just starting out or looking to scale your portfolio, we cover everything from market trends and financing tips to sourcing deals and maximising returns. Tune in for honest discussions, valuable advice and practical steps to take your investing journey to the next level. Subscribe now and join a community of commercial property investors turning opportunities into success!

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