Category

Commercial Property Investment

Date

1 February 2022

8 Tips to Increase Your Commercial Property Value

Making your commercial property in Perth more attractive to buyers is a great way to increase its value, benefitting both the buyer and you. Whether that be improving the exterior, adding amenities, or changing leasing companies, these are a few tips which could help you out.

1. Increasing rentable square footage

A simple way to do this is determining the usability of the space both horizontally and vertically, and advertising this to your potential buyers. Check if there are any structural blockades preventing the use of productive space and make the removals or additions. Smart fit outs like walls and partitioning, line marking, and shelving and storage are just a few ways to do this. In the long term, spending the money on such changes will increase your commercial property value.

2. Increasing parking space

Not only will adding spaces to park increase the accessibility of the property for customers, but it will also add value to the commercial property. Potential Perth buyers will see the benefit of such accessibility in helping their production and satisfying their customers, leaving you with the added value to your commercial property.

3. Improving exterior

Upkeep is essential as the whole look and presentation of a building can either decrease or increase the value of a commercial property. Repairing any defects to the exterior, like plastering, or an easy and simple paint job is a means of taking up the property value a long way. Buyers will be more interested in a visually appealing and well kept Perth property, and so will their customers.

4. Upgrading signage

Exterior signage of your commercial property is essential for both the presentation of the building and also marketing purposes. A visible, clean, maintained sign is vital for the buyer of your commercial property and is a great way to increase your commercial property value in Perth. The same as improving the exterior, it’s a way to keep buyers interested as they look to what will attract and be recognizable to their customers.

5. Cleanliness

Providing a clean commercial property building and ground is the easiest and most simple way of increasing value. Giving a buyer a blank canvas is a great way for them to be able to imagine how they can use the space. Mopping, deep cleaning carpets, and getting the windows cleaned, are some of the ways you could present a ‘new’ space to a prospective buyer.

6. Addition of amenities

If possible, adding amenities to your commercial property can undoubtedly increase the value. Conference rooms, a coffee bar, or office spaces allow buyers to envisage their business and its people working and operating in the space. By adding such amenities, your commercial property puts more on offer for the potential buyer, meaning more interest and value.

7. Regular inspections

Perhaps a hassle, but it is essential to regularly inspect your commercial property when taken over by a business. This allows you to check up on your Perth property and to see whether you should make any changes, like the ones listed above, or fix any structural issues if necessary.

8. Change lease companies

A new pair of eyes can greatly benefit your commercial property. With fresh advice from another industry professional, you may learn a new thing or two and heighten the value of your commercial Perth property. Ross Scarfone realtors can be the fresh face and perspective that you’re looking for to make your commercial property the most appealing.

With extensive experience and knowledge of real-estate in Perth’s Southeast region, Ross Scarfone Real Estate have been helping businesses for over 30 years. Leasing commercial real estate, including brand new, old, and converted warehouses, the team provides a personalized, professional service.