Commercial property development is without a doubt a thriving and budding industry. As people strive to make names and more money for themselves, the need to have a commercial space also keeps rising rapidly. It goes without saying that the competition in this industry is very high. However, if you are looking to lease your commercial property in Sydney, it is crucial that you put your best foot forward as you prepare to put it up on the market.
If you have ever sold your residential property, then you should know how important it is to get your property ready. The same applies to commercial real estate. Staging your product is an efficient way of taking the focus off some not-so-good aspects of your property to make it feel as appealing as possible.
Here are a few tips on how to prepare your commercial property for lease in Sydney
It is essential to understand that most potential commercial real estate buyers base their decision upon how much work can be done on the property as well as the potential for profits. Therefore, it is essential that you put any concerns that buyers may have to rest before putting it on the market.
Prepare Your Commercial Real Estate
In this case, preparation does not only mean advertisements and cardboard signs. There are many things that you need to do to ensure your property is appealing to potential tenants at a meaningful market value. This is especially important if you are leasing a commercial property that has been standing for years.
Here are a few tips for preparing your commercial property for lease in Sydney:
Keep it Together
Commercial properties accumulate minor damages throughout the years. Before listing your property, make sure that you take care of all the things that need to be fixed and repaired. In case some of the damage goes beyond your budget, and you cannot fix them at the moment, make sure to let the potential clients know right away. Avoid sugar coating any issues as it will only stain your reputation in the industry. Additionally, letting your potential customers know in advance creates an excellent opportunity to come up with the perfect solution as well as compromises to seal the deal.
For a newly built commercial space, make sure to conduct all the necessary inspections with the help of concerned authorities and regulators. Double check that everything is working well before putting your property on the market, as missing even the smallest details may repel potential clients.
Keep your Structure Presentable
An excellent marketing strategy is not complete without an appealing presentation. The same applies to leasing commercial properties. As stated above, the industry for commercial properties is already bustling with thousands of competitors. The best way to compete and stay on par with your competitors is by presenting your commercial property well. This way, it will be difficult for potential clients to resist your property at first sight. If necessary and within your budget, consider doing a makeover.
Eyeball the exterior
Take some time to scrutinise the outside of your building. Is there something that is unappealing to you? Anything that looks dirty, unkempt, disorganised or sloppy to you will stand out to potential customers. So make sure to pay attention to the following;
Install a custom driveway gate
Providing a custom driveway gate is not only great for security purposes but will help make your property stand out and become more appealing to potential clients. Whether you opt for wood, wrought iron, metal or other materials, these gates can be built to your specifications to create a stunning entrance to your property.
Resurface the parking lot and driveway
One of the things that catch the eyes of potential customers when approaching a commercial property is the driveway and the parking lot. A parking lot that has been left unattended may look stained and worn out, which is unappealing. If your property has this problem, make sure that it is retouched before placing it up for lease. For instance, having the lines of the parking spaces re-drawn does a great job in making the lot appear new and fresh. Also, remove any obstructions to make it easy for potential customers to drive or walk through the lot.
Check Safety features
Other than giving your parking lot a facelift, it is crucial to take care of any safety features associated with your property. This includes fire alarms, emergency exits, fire sprinklers, burglar alarms and other safety features. Preferably, seek the services of a reputable safety company to install, inspect and test all your safety features.
Upgrade common features
Another important thing you need to do is to upgrade the common spaces. For instance, you can buy gallons of paint and hire a reputable painting contractor to give these areas a fresh coat of paint to make it feel brand new. A parking lot with worn-out flooring will draw the wrong attention. Consider replacing them with high-quality, durable floors that are sturdy enough to withstand high volumes of foot traffic. Also, make sure the HVAC system is upgraded and working well so that your customers are kept cool in summer and warm in winter.
Keep it clean
Finally, it is not enough to make the property look presentable only in the photos. Potential clients will want to view the premise. Ensure the entire building is clean and adequately sanitised. Hiring Sydney end of lease cleaning experts is crucial to ensuring your commercial property stays appealing to prospective clients. It ensures that the previous tenant's remnants, including any specialty fixtures, a company sign on the wall or even unusual colour choices are removed. Your clients should be able to feel more satisfied and comfortable as soon as they step foot into your commercial property.
While some of these upgrades may cost you money, it will be well worth it.
Manish is founder of Business2sell Group of Websites.
Business2Sell.com.au is one of the leading business and franchise for sale listing websites. We work with our business brokers, commercial agents, franchisors and private sellers to help them connect with the right buyers for their opportunities.
With website now functional in Australia, United States, United Kingdom, Canada, New Zealand and South Africa. We have over 18,000 businesses for sale listed, with over 220 Business Broker and Commercial Agent.
I have over 20 years of experience in Web Industry; I have been involved in websites industry since the early years of 1996-97. In my professional career I may have worked for over 10,000+ websites. My Specialty is to build portals or complex online applications.
Investing in commercial property is a long-term undertaking which requires a deep understanding of the location, developer, and th..Read More
The thickly populated and highly commercialised city of Sydney is one of the most sought-after regions for commercial investments...Read More
The COVID-19 pandemic has been particularly distressing for businesses as many were forced to close their stores or have been depr..Read More
Australia has been changing at a fast pace with several development projects being undertaken across the states. Most of the const..Read More
For a long time commercial real estate investing was considered the playground of wealthy business magnates with surplus funds. Ho..Read More
The vibrant city of Brisbane has been identified as a high performing region for commercial property during the COVID-19 pandemic...Read More
Sydney has been highly popular among local and international students for its high standard of education and excellent student lif..Read More
The commercial real estate sector has been one of the strongholds of the NSW economy with its steady prices and low vacancy rates...Read More
The stunning city of Melbourne is one of the most sought-after destinations in the world. However, currently, it is reeling under ..Read More
The commercial property market of Australia is a powerhouse that has propelled the growth of myriad businesses. It has been the st..Read More