Commercial Finance Specialists

Empty properties should be protected with insurance as they are particularly at risk.

People seeking sources of finance for commercial property investment should be certain to get insurance, as empty commercial buildings face a higher risk of arson and malicious damage, according to research.

Findings from the Local Data Company show that the worst-affected areas of the UK are experiencing a 24 per cent high in the number of empty commercial properties, while the national average stands at 12 per cent.

Allister Smith, property risk manager at Aviva, said that landlords should remember that they have a duty of care to anybody visiting their property.

"Empty units must be adequately protected - every year, over three million properties are vandalised and 25 per cent of this malicious damage occurs in empty properties with arson costing £2 billion," he added.

In January, the insurer warned that property owners should ensure they have the correct level of legal expenses cover in place to address the problem of squatters occupying the premises.