Honest Property Investment with Natasha Collins

Over the past few episodes, I've explored the key economic indicators that influence commercial property, from gilt yields and occupier demand to inflation and interest rates. But understanding these indicators individually is only part of the picture. In this episode, I bring everything together and explain how I use these indicators to assess the market and, more importantly, how they influe...

Many commercial property investors assume the Bank of England base rate is the only interest rate that matters. In reality, commercial lenders consider a much wider range of economic factors when pricing debt. In this episode, I explain why commercial mortgage rates can increase even when the base rate remains unchanged, how lenders assess future risk, and what this means for commercial property i...

The latest RICS Commercial Property Monitor suggests tenant demand remains subdued across much of the UK commercial property market, but what does that actually mean for investors? In this episode, I look beyond the headlines and explore how weak occupier demand impacts leasing negotiations, incentives, void periods and ultimately investment performance. I share how I'm adjusting my own deal a...

When inflation rises, most commercial property investors focus on one thing: rent reviews. But inflation impacts far more than rental income. In this episode, I explore how CPI, RPI and wider inflationary pressures affect commercial property tenants, from rising wages and energy costs to increasing service charge budgets and insurance premiums. I discuss why understanding inflation can help invest...

Most commercial property investors never intend to buy a gilt, but understanding gilt yields is one of the keys to understanding what drives property values. In this episode, I break down what a gilt actually is, why gilt yields have risen so dramatically in recent years, and how changes in the wider investment market can affect commercial property values even when nothing has changed about the pr...

After seven episodes covering the lifecycle of a commercial property — from lettings and rent reviews through to arrears, lease renewals and dilapidations — this final episode answers listener questions based on real-world situations. This episode focuses on the commercial realities behind investment decisions, lease negotiations, tenant covenant strength, and the operational side of owning commer...

Dilapidations are one of the most misunderstood parts of commercial property — but they play a critical role in protecting the value of your asset. They’re not just about repairs. They’re about ensuring a property is returned in the condition agreed in the lease. And if handled incorrectly, they can become time-consuming, expensive, and damaging to landlord-tenant relationships. What You’ll Learn...

Lease renewals are one of the most critical — and most misunderstood — stages in the lifecycle of a commercial property. They don’t start when the lease ends. They start 12–18 months in advance — and what you do in that window can significantly impact both income and asset value . In this episode, I walk through how lease renewals actually work in practice — from legal structure, to negotiation st...

What do you actually do when a tenant can’t perform? In this episode, I break down the four key options available to landlords — assignment, subletting, surrender, and surrender & regrant — and, more importantly, when each one should (and shouldn’t) be used. This is where commercial property moves from process to strategy. Because the structure you choose doesn’t just solve a short-term issue...

What actually happens when a tenant stops paying rent? In this episode, I walk through the full lifecycle of arrears — from the first missed payment through to breakdown, recovery attempts, and in some cases, tenant failure. This isn’t theory. It’s how it plays out in real time. We cover how to spot early warning signs, when to step in, and the key decisions landlords and property managers have to...

In this episode, I walk through rent reviews — one of the most important, and often misunderstood, stages in the lifecycle of a commercial property. On paper, rent reviews are designed to protect and grow income. In reality, the outcome depends entirely on how the lease is structured and how the process is managed. I explain what should happen during a rent review, the costs involved, and why not...

In this episode, I walk through the lettings stage of a commercial property — where income is created, but also where risk is often introduced. I explain what should happen when letting a property, from pre-marketing strategy through to legal completion, and why this process needs to be actively managed rather than left to run. I also break down the real cost of securing a tenant — including agenc...

In this first episode of the series, I introduce the full lifecycle of a commercial property — from purchase through to exit — and, more importantly, the reality of what happens in between. Commercial property isn’t just about the numbers on a spreadsheet. It’s about the unexpected costs, shifting market conditions, and the time it takes to manage and negotiate effectively. It’s also about the win...

Everyone is talking about uncertainty right now—interest rates, the economy, global instability. But in this episode, I explain why none of those are my biggest concern. Instead, I break down the real risk I see investors making in commercial property today—and why it has nothing to do with the market, and everything to do with how you structure your investments. If you’re building (or planning to...

Most investors approach commercial property by searching for deals first. But that’s usually the wrong place to start. Before analysing a single opportunity, you should know what portfolio you’re trying to build . In this episode, I explain how the Commercial Property Portfolio Blueprint works and how you can use it to model the growth of your commercial property portfolio over the next five years...

Join the Members Club waiting list HERE In this episode, I continue the Commercial Property Acquisition Strategy Framework with Lens Four: Asset Management Levers . So far, the framework has covered: Lens One: Strategy Fit — should this asset exist in the portfolio? Lens Two: Financial Structure — how should the deal be funded so it remains resilient? Lens Three: Risk Position — what exposure am I...

In this episode, I continue the Commercial Property Acquisition Strategy Framework with Lens Three: Risk Position. So far, I’ve covered: Lens One: Strategy Fit — should this asset exist in your portfolio? Lens Two: Financial Structure — how should you fund it so it remains resilient? Now I ask a deeper question: What risk are you actually taking? Most investors misunderstand risk. They assume it’s...

Last week, we introduced Lens One: Strategy Fit — asking whether a deal deserves to exist in your portfolio over the next 5–10 years. This week, we move to Lens Two: Financial Structure. Because once a deal fits strategically, the next question is not “How much can I borrow?” It’s “How should I structure this so it remains resilient?” Using the same live example — 91–92 Darlington Street in Wolver...

Join the Members Club Waiting List HERE Most commercial property investors don’t struggle with finding deals — they struggle with how they assess them. In this episode, I introduce the Commercial Property Acquisition Strategy Framework, the structured system we use at NC Real Estate to analyse every acquisition opportunity, starting with Lens One: Strategy Fit. Using 91–92 Darlington Street in Wol...

I see a lot of commercial landlords assume that if a unit isn’t letting, the rent must be wrong. In this episode, I talk through why that instinct can be misleading — and how reacting too quickly can actually attract the wrong tenant and create longer-term problems. I cover: how I interpret Rightmove stats and what high view numbers really tell me why poor enquiry quality is often a positioning is...

In this episode, I tackle one of the most common (and most frustrating) sticking points I see when investors assess commercial property deals: “Is the uplift enough to get all, or most, of my money out?” It’s an understandable question — but when it becomes the only question you ask, it will stop you buying almost anything. Using the same commercial property deal , I walk through what that questio...

In last week’s episode with Gerard, we talked about how smaller commercial property deals can quietly outperform expectations — and it got me thinking about where people actually start. So I did what most investors do. I went on Rightmove. In this episode, I walk through four real, entry-level commercial properties I found and explain how I’d genuinely think about them as an investor — not to pitc...

In this episode, I’m joined by Gerard Davis , a qualified commercial solicitor and Business Development Manager at Talbots Law, to break down a real commercial property deal involving lock-up garages — and why this type of asset can be a smart, low-barrier entry point into commercial property. We talk through Gerard’s purchase of 12 lock-up garages for £51,000 , how he identified that the asset wa...

This week I discuss the pending legislation that will make upwards only rent reviews illegal, how that will impact your commercial property and what to do about it. I also discuss open market rent reviews and why they aren't actually cost effective for landlords to have in their leases and again what you can do about it.

Happy New Year! The podcast is back. Today I start by discussing what I'm focusing on in my commercial property portfolio, why I still hate Air BnB. The main topic of the week is about what I mean when I talk about risk and yields and what yields I'm expecting to see from each commercial property type in 2026. My question for you: What commercial property yield are you targeting this year?