If you are thinking about selling your commercial property or are simply looking to increase property value, then we are going to cover a few easy steps you can follow. Commercial property is usually a worthwhile investment if occupied it can bring in a vast amount of monthly income. To help get the most out of your property, it is essential you know how to increase the value and get the best possible price for your commercial property.
How to increase property value
If there is anything you have been thinking about improving but have sort of just left it, then you will most likely want to fix it. Any repair that you have been thinking of making should be completed before you consider selling it or renting it out to potential tenants. Whether these repairs or improvements are cosmetic or upgrades, any form of improvement can add significant value to your commercial property. Minor elements of your commercial property that may be a little tired looking or outdated such as your cladding an all be improved and cost-effective at that. If you do have any cosmetic damage to your commercial unit it is essential you book in for cladding panel repairs, not only can it make your commercial building look more aesthetically pleasing but it can also strengthen the panels giving them a longer lifespan. It can be a key selling point when you come to sell your commercial property as the new owners will not have to replace them any time soon.
If your commercial unit is looking a bit drib and drab, you may want to think about making the commercial property look a bit more modern. By replacing items such as radiators, lighting and toilet facilities, you can significantly increase the properties value by doing so. No one wants to purchase a commercial property with old and tired looking toilets and lighting as they will only need to replace them, themselves which will cost them money they don’t want to think about spending.
Does your commercial property consume a vast amount of energy? You could look at making your property more energy efficient to help the new owners or tenants save a few pennies when they come to use the premises.
Roof coatings are a great way of improving the energy consumption of a building, you may not think it, but the components in the coating mean heat stays within the building. Heating rises and is often lost through poor roofing systems. By having specialist roof coatings applied you could save not only yourself money but also those who look to move in.
Roof coatings are often affected all year round by British weather, during the winter months our commercial roof buildings take the brunt of poor weather. From rain to consistent freezing cold temperatures it can often lead to a number of problems. During the summer months, UV light can be a real problem for roofing systems, it can have a dramatic effect on the roof itself and can cause it to deteriorate and fade at a much faster rate. With good quality roof coatings, you can also prevent this from happening, which means your new tenants will not have to think about replacing it in the future.
If you do not have them already then you may want to think about installing solar panels, during the summer months you can gain a significant amount of energy through long days and vast amounts of sunlight. For most commercial properties installing solar panels onto your building can be relatively lucrative. There are a number of government schemes now available to you including feed-in tariff which will provide you with a small profit at the end of the year. There are a number of companies you can go to, to have solar panels installed onto your commercial property including EcoEnergy. Helping to reduce the cost of any energy bill will provide you with more of an edge against competitors and can add significant value to your property.
Do you have some of the main things people are looking for when they go to buy a commercial property for example fast wifi? Internet connections are absolutely vital to the running of most business; many cannot function without it. If you provide your commercial property with high-speed internet, then you are more attractive in comparison to your competitors.
We recommend taking a look at Puffin Solutions for this service as they will provide you with installation services as well as ongoing support in the future which you will be able to give to your new tenants or also mention when it comes to selling the property.
When people are looking for a commercial space, they are often going to use it as a business which means there will be a number of employees. Amenities such as parking can be a great add-on to the price of your commercial unit. No one wants to walk miles from the car park to their offices if you have the space to do so and do not have one already then you may want to consider having parking put in place. Alternatively, if there are large areas of parking to which you do not own, you could always get in touch with those who own the parking to see if you can buy spaces or offer discounted rates on parking for those who are using the commercial property.
Increasing property value
To get the most out of your commercial property, you will need to make a few changes to get the best value for money. Small improvements or repairs which have been left should all be fixed before you consider selling the property. You can add more value to the building by helping those who are likely to move in with making the building more energy efficient. By doing so, their bills will cost them far less in the future, therefore making your commercial property more appealing in comparison to your competitors.