3 Tips for Securing the Right Commercial Property

Written by  //  2017/08/25  //  Real Estate Investing  //  No comments

Commercial properties can make sound investments for both prospective property magnates and business owners looking to lease in the ideal location. But finding and fitting out the right property can be a puzzling process.

So here are three tips to help you secure the right commercial property and provide a firm foundation for profitability.

Interior

If you’;re building a brand new commercial property you’;ve got the advantage of designing from scratch to meet every business demand — everything from air vents to display cases can be made to order. But refurbishing an existing property is more challenging.

If you’;re an investor looking to lease to a specific sector, it might be safe to include some basic design features from the start.But an interior that leaves no room for tenants to add their personalised branding touches will be off-putting.

Tenants who have secured a long-term lease can book a consultation with a professional shop fitting firm — they’;ll create a design that attracts footfall and showcases products perfectly.

Some companies go even further and create concept stores based on brand themes — so shopping becomes an enjoyable experience rather than a bland transaction.

Location

Finding the right location for a commercial property can be crucial.

Investors snapping up property in an up-and-coming area for tech or finance firms can get ahead of the curve and capitalise on demand.

And keeping a keen eye on infrastructure projects can help you target areas primed for investment.
So if you’;re looking for a shop to let in London, an online registry like Shop Property would allow you to find locations that will benefit from projects like Crossrail.

If you’;re renting a shop for your own business you can choose a location that lets you take on close competitors head-to-head or target a locality where your offering is unique.

Your strategy will depend on whether you’;re confident enough to combat competition at close quarters — or want to operate under the radar and establish a unique niche in a quieter neighbourhood.

Lease

The lease is the key document outlining the legal responsibilities of commercial tenants and landlords. So it’;s important that both parties look through this legal document with a fine-tooth comb.

The lease covers areas like responsibility for health and safety provisions as well as rental costs — so it can be wise to secure the services of a commercial property solicitor to draft or review the lease in expert detail.

If tenants and landlords understand their responsibilities from the start of their professional relationship it’;s less likely for legal wrangles to develop down the line.

So, solid research is required before diving into the commercial property sector in any market. But if you have an eye for detail and your ear to the ground in terms of great locations you’;ll secure a spot that matches your business vision.

These three tips for securing the right commercial property should let you set your sights on success.

Do you have any commercial property tips? Share your advice in the comments section.

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