The commercial property market may not be at its best condition right now. Demand is on a decline, but that only means there will soon be a lot of opportunities to seize on the market.
It is only a matter of time before tenants start to return to looking for office spaces and commercial facilities, and the best strategy to adopt right now is preparing for that stream of new opportunities.
There are several things you can do to make your commercial property more appealing to prospective tenants. Taking these simple steps that we are about to discuss in this article will not only prepare your property for the upcoming market boom but may also attract new tenants who are looking to rent a commercial space right now.
One of the best things you can do to make your commercial property more appealing is by adding amenities, particularly amenities that are useful to potential tenants. You can start by adjusting the layout of the space to suit the needs of modern tenants.
Certain amenities such as an integrated Wi-Fi mesh network, built-in gigabit ethernet cabling, or even facilities for the common areas (i.e. a common fitness centre) are particularly interesting for tenants who are looking for commercial spaces that are functional yet trendy.
The design of the space matters too. Letting in more natural light, changing the wall colours, and sticking to a theme will make your commercial property appear more interesting to a specific group of tenants. You just have to understand the market segment you want to target.
Ensuring that everything in the building works efficiently – and that the space is safe enough for use – is another thing you can do to make your commercial property more appealing. You can, for instance, get an Electrical Inspection Condition Report (EICR).
An EICR and other similar inspections are meant to be done at least once every five years, but there is nothing wrong with getting the inspections done more frequently, particularly before or after a tenant. You can learn more about EICR reports here at Trade Facilities Services, who can also price up the cost of the certificate for you (which start at just £99).
You can go a step further by improving the overall energy efficiency of the building. Simple steps such as switching to LED bulbs and improving the insulation of the space can help lower energy consumption by a substantial margin.
Next, work on improving the parking space that comes with the property. For tenants, parking is just as important as the office space itself. You’ll be surprised by how much better the kerb appeal of your commercial property will be with spacious parking welcoming future tenants.
Adding parking space is not enough, though; you have to be willing to go the extra mile in order to make the property more attractive. Adding parking lines, improving the security of your parking lot, and installing sufficient barriers around the space are all highly recommended.
To top it all off, you can combine the parking space with an outdoor common area. Adding a small landscape is a good start. You can also add a common seating area so that tenants can spend some time outside of their offices.
Building security is what you need to be tackling next. While the security of individual office spaces is the responsibility of tenants, you still want to make sure that the property itself is secured properly. This means installing CCTV cameras and integrating other security measures.
The more you invest in security, the more tenants will feel reassured about renting the space. You may also want to hire security guards as an extra measure depending on the layout of the property and how big it is.
Security goes hand in hand with safety within the premises. Make sure you follow strict health and safety standards by adding warnings and notifications, installing guard rails and other safety measures, and making sure that tenants know how to stay protected while on the property.
Last but not least, consider adding features that are geared towards the market segment that you want to target. For example, you can install multiple internet backbones when you want to attract tech start-ups and IT companies.
You can also add a studio space if you want to attract tenants from the creative industry, or turn the space into an open one if you want to cater to the manufacturing industry. The features to add depend on the market segment that you want to grab.
Don’t forget to consider certain factors before deciding to target a specific segment. The location of the property, the area’s most prominent industries, and other market details can help you refine your commercial property to be as appealing as it can be.
By utilising these 5 tips, you can begin attracting potential tenants even before the next market boom. If you are looking for ways to boost the appeal of your commercial properties, these are the 5 tips and tricks you want to use.