Add Value To Your Commercial Property
Apr 11 2016
If you own commercial property - whether for your own business or as an investment to lease out to tenants – it’s very likely you’ll be wanting to ensure that you are getting the most out of it. In this market, commercial property is always a highly lucrative investment, hence adding value to it is not only simple, but also prosperous. And the best news of all? A few simple changes/additions here and there will instantly up market worth of your commercial property without having to spend an awful lot of time or use up resources. Here’s our handy guide to accumulating value on your property the simple way:
To obtain a higher selling price on a family home, you’d add a conservatory, loft room or extra bedroom; similarly, to add value to a commercial property simply add extra square footage. Although a conservatory might not be the best addition to an office, things like extra parking spaces, extra offices, a larger canteen area or more conference space will all massively improve your commercial property’s worth. Just like with residential property, you will have to consult with authorities before carrying out any building work on your property, but once you’ve got the go ahead it will all be worth it; your property value will be significantly raised!
Photo credit: air images/Shutterstock
First impressions are everything when it comes to property – so it figures that ensuring your property looks great on the outside is a high priority. Not only will having an aesthetic exterior add value if you ever wanted to sell your property, appearance also greatly influences potential customers, clients or tenants – which is especially important if you are a business. And although aesthetic improvements can be costly, they don’t have to be; there are several ways to increase value through external improvements on a budget. Firstly, keep the outside of your property clean – ensure there is no litter floating around the grounds, sweep up autumn leaves and wash muddy/dirty pathways as often as needed. If grounds outside the building include patches of grass then ensure the grass is always freshly cut. For easy access, make sure walkways and pathways are clear and trim bushes and hedgerows back so they are neat, well-ordered and out of the way. Have a good amount of bins regularly spaced out around the grounds so people can throw away litter instead of dropping it and make sure these bins are emptied regularly – over flowing bins not only look unpleasant, they smell it too. The building itself should be freshly painted, well maintained and in good working order. Anything that needs mending should be taken care of as soon as possible along with keeping the buildings paintwork fresh. These aforementioned cleaning tips and tricks might seem small, but they make a massive difference to the overall appearance of your commercial property.
Keep up to Date
Nowadays, modern property is the style of choice; keeping your building up to date is an easy way to add value and impress potential clients, customers and general passers-by. Modern features that can be added painlessly are things like heating, lighting and ornaments such as sculptures or paintings. White walls with a splash of colour in the form of a picture or print will do wonders for your buildings aesthetic with minimal effort. Upgrade your property with energy efficient water heaters and air conditioning and kill two birds with one stone; not only will your property be modernised and therefore benefit from increased value, it will also save you money on energy costs! If you want to go slightly further, you can even upgrade your roof or put in solar panels; this will be a costly venture however it will offer a great investment return and is in essence an outlay that will pay off massively over time.
Photo credit: Zastolskiy Victor/Shutterstock
Going back to the importance of the outside aesthetics of a building to the first impression it creates, it is evidently important that your business/office sign is in good shape. After all, your business signage is the first and foremost showcase of your brand; clients will see the sign before they meet you or come inside – they may even make their decision on whether or not to enter based on the sign outside due to the positive/negative connotations that come with it. If your sign is broken, dirty or difficult to read/see then often people will make the snap judgement that your business isn’t quite up to scratch, either. Consequently, this will de-value your property and business as a whole. In order to ensure that first impressions are as good as they can possibly be, keep your signage modern, up to date and stylish. Speak with a professional sign maker if you need guidance, and once you have the perfect sign be sure to keep it clean and put it in pride of place – no signs hidden behind oak trees, please!
What's in a Name?
Turns out, a lot. A non-negotiable requirement for successful branding is a great name; naming your property will increase credibility, knowledge and therefore value of your property simultaneously. Coming up with a name should take some time, and be properly thought out. Research name ideas considering things like area, business type, community and history of the area in which your property is based. So there you have it, our five simple tips will increase the value of your property easy without breaking the bank or draining precious time.