Preparing to sell a commercial property - Revision history

Editor at 19:42, 15 December 2021

2021-12-15T19:42:27Z

← Older revision		Revision as of 19:42, 15 December 2021
Line 51:		Line 51:
	This article was provided by Trident Building Consultancy (TBC) in December 2019.		This article was provided by Trident Building Consultancy (TBC) in December 2019.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

	* Biophilic design.		* Biophilic design.
Line 60:		Line 60:
	* Types of building.		* Types of building.
	* Use class.		* Use class.
		+	* Water feature.

	--[[User:Trident_Building_Consultancy\|Trident Building Consultancy]]		--[[User:Trident_Building_Consultancy\|Trident Building Consultancy]]

	[[Category:DCN_Commentary]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:DCN_Commentary]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 07:11, 8 February 2021

2021-02-08T07:11:54Z

← Older revision		Revision as of 07:11, 8 February 2021
Line 63:		Line 63:
	--[[User:Trident_Building_Consultancy\|Trident Building Consultancy]]		--[[User:Trident_Building_Consultancy\|Trident Building Consultancy]]

−	[[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:DCN_Commentary]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 06:52, 13 December 2019

2019-12-13T06:52:39Z

← Older revision		Revision as of 06:52, 13 December 2019
Line 1:		Line 1:
	= [[File:Cleaning_windows.jpg\|link=File:Cleaning_windows.jpg]]Introduction =		= [[File:Cleaning_windows.jpg\|link=File:Cleaning_windows.jpg]]Introduction =

−	In times of economic uncertainty, selling a commercial property can be more difficult ~~than usual~~. The following tips can help property owners to attract a good price for their commercial property.	+	In times of economic uncertainty, selling a commercial property can be more difficult. The following tips can help property owners to attract a good price for their commercial property.

	= More space, more value =		= More space, more value =

−	The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.	+	The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help identify opportunities for more efficient uses - changes such as reducing the floor area in a reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.

	= The appeal of flexibility =		= The appeal of flexibility =
Line 15:		Line 15:
	Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short-term tenants such as ‘pop-ups’) to create a vibrant atmosphere.		Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short-term tenants such as ‘pop-ups’) to create a vibrant atmosphere.

−	A building consultancy can give advice on lease renewal, whether the requirement is to terminate all leases upon ~~the~~ sale, or maintain tenancies in a seamless way.	+	A building consultancy can give advice on lease renewal, whether the requirement is to terminate all leases upon sale, or to maintain tenancies in a seamless way.

	= Present a building fit for the twenty-first century =		= Present a building fit for the twenty-first century =

−	Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast Internet access and wi-fi can modernise a building, both in appearance and function, and ~~provides~~ a competitive edge.	+	Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast Internet access and wi-fi can modernise a building, both in appearance and function, and provide a competitive edge.

	= Make a strong first impression =		= Make a strong first impression =
Line 25:		Line 25:
	Just as purchasers must be attracted into the building, they will also need to attract staff and customers. If an owner wants to invest in any one area of a building, it is the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.		Just as purchasers must be attracted into the building, they will also need to attract staff and customers. If an owner wants to invest in any one area of a building, it is the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.

−	Pay attention to the external appearance, ensuring ~~that~~ the ~~exterior~~ is well maintained and ~~the building is~~ easy to access. With a little more – but worthwhile – investment it may be worth considering changing ~~the~~ external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building: a water feature creates a sense of tranquillity and can reduce traffic noise, while attractive outside seating can enable employees to benefit from fresh air during ~~their~~ breaks~~, yet not stray too far from their place of work~~.	+	Pay attention to the external appearance, ensuring the building is well maintained and easy to access. With a little more – but worthwhile – investment it may be worth considering changing external planting and lighting, introducing new cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building: a water feature creates a sense of tranquillity and can reduce traffic noise, while attractive outside seating can enable employees to benefit from fresh air during breaks.

	= Bring the outside in =		= Bring the outside in =

−	Experts say that ~~the~~ connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials, and maximising natural light. ~~Sustainability is the ultimate buzz-word in commercial property and biophilic~~ design delivers ~~this~~ in a way that can be immediately appreciated by a building’s users.	+	Experts say that connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials, and maximising natural light. Biophilic design delivers in a way that can be immediately appreciated by a building’s users.

	= Capture quality in a name =		= Capture quality in a name =

−	Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market~~. There are many levels at which re-branding can take place - something that will need to be considered in relation to competing properties and the cost as a proportion of the sale price~~.	+	Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market.

	= Signage =		= Signage =

−	Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing materials and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.	+	Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing materials and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building and its surroundings.

	= Create a property that stands out from the competition =		= Create a property that stands out from the competition =
Line 45:		Line 45:
	= Invest wisely =		= Invest wisely =

−	Finally, do not overspend. If necessary, seek advice from a cost consultant ~~prior to~~ committing to substantial ~~investments~~. ~~As a basic rule of thumb, consider that every~~ change should create more value than it costs.	+	Finally, do not overspend. If necessary, seek advice from a cost consultant before committing to substantial investment. Every change should create more value than it costs.

	= About this article =		= About this article =
Line 53:		Line 53:
	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

−	* ~~Building activities definition.~~	+	* Biophilic design.
−	* Building spaces definition.	+
	* Change of use class.		* Change of use class.
		+	* Placemakeing.
	* Premises.		* Premises.
	* Property.		* Property.
−	* Shop.
	* Types of building.		* Types of building.
−	* Types of room.
−	* Uniclass 2015.
	* Use class.		* Use class.

Editor at 12:12, 12 December 2019

2019-12-12T12:12:02Z

← Older revision		Revision as of 12:12, 12 December 2019
Line 1:		Line 1:
−	= [[File:~~Cleaning windows~~.jpg]]Introduction =	+	= [[File:Cleaning_windows.jpg\|link=File:Cleaning_windows.jpg]]Introduction =

	In times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.		In times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.

Editor at 12:05, 12 December 2019

2019-12-12T12:05:26Z

← Older revision		Revision as of 12:05, 12 December 2019
Line 1:		Line 1:
−	= Introduction =	+	= [[File:Cleaning windows.jpg]]Introduction =

	In times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.		In times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.

Editor at 12:03, 12 December 2019

2019-12-12T12:03:51Z

← Older revision		Revision as of 12:03, 12 December 2019
Line 63:		Line 63:
	* Uniclass 2015.		* Uniclass 2015.
	* Use class.		* Use class.
		+
		+	--[[User:Trident_Building_Consultancy\|Trident Building Consultancy]]

	[[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:Cost_/_business_planning]] [[Category:Property_development]]

Editor at 12:02, 12 December 2019

2019-12-12T12:02:20Z

← Older revision		Revision as of 12:02, 12 December 2019
Line 1:		Line 1:
−	At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.<br />	+	= Introduction =

		+	In times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.

−	== More space, more value ==	+	= More space, more value =

−	The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help ~~you~~ identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.	+	The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.

−	== The appeal of flexibility ==	+	= The appeal of flexibility =

	Open-plan office layouts are increasingly popular. Removing internal walls to allow tenants to create workspaces, break-out spaces and communal areas is a cost-effective strategy. With an increase in remote working and hot-desking policies, spatial flexibility is a top priority for businesses.		Open-plan office layouts are increasingly popular. Removing internal walls to allow tenants to create workspaces, break-out spaces and communal areas is a cost-effective strategy. With an increase in remote working and hot-desking policies, spatial flexibility is a top priority for businesses.

−	== Demonstrate demand ==	+	= Demonstrate demand =

−	Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short term tenants such as ‘pop-ups’) to create a vibrant atmosphere.	+	Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short-term tenants such as ‘pop-ups’) to create a vibrant atmosphere.

−	A building consultancy can give advice on lease renewal, whether ~~you wish~~ to terminate all leases upon the sale, or maintain tenancies in a seamless way.	+	A building consultancy can give advice on lease renewal, whether the requirement is to terminate all leases upon the sale, or maintain tenancies in a seamless way.

−	== Present a building fit for the twenty-first century ==	+	= Present a building fit for the twenty-first century =

−	Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast ~~internet~~ access and Wi-Fi can modernise a building, both in appearance and function, and provides a competitive edge.	+	Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast Internet access and wi-fi can modernise a building, both in appearance and function, and provides a competitive edge.

−	== Make a strong first impression ==	+	= Make a strong first impression =

−	Just as ~~you~~ must ~~attract the purchaser~~ into the building, ~~your purchaser~~ will need to attract staff and customers. If ~~you’re going~~ to invest in any one area of a building, ~~it’s~~ the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.	+	Just as purchasers must be attracted into the building, they will also need to attract staff and customers. If an owner wants to invest in any one area of a building, it is the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.

−	Pay attention to the external appearance, ensuring that the exterior is well maintained and the building is easy to access. With a little more – but worthwhile – investment ~~you could consider~~ changing external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building; a water feature creates a sense of tranquillity and reduce traffic noise, ~~and~~ attractive outside seating can enable employees to benefit from fresh air in their breaks, ~~while~~ not ~~straying~~ too far from their place of work.	+	Pay attention to the external appearance, ensuring that the exterior is well maintained and the building is easy to access. With a little more – but worthwhile – investment it may be worth considering changing the external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building: a water feature creates a sense of tranquillity and can reduce traffic noise, while attractive outside seating can enable employees to benefit from fresh air during their breaks, yet not stray too far from their place of work.

−	== Bring the outside in ==	+	= Bring the outside in =

−	Experts say that the connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials and ~~maximise~~ natural light. Sustainability is the ultimate buzz-word in commercial property and biophilic design delivers this in a way that can be immediately appreciated by a building’s users.	+	Experts say that the connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials, and maximising natural light. Sustainability is the ultimate buzz-word in commercial property and biophilic design delivers this in a way that can be immediately appreciated by a building’s users.

−	== Capture quality in a name ==	+	= Capture quality in a name =

−	Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market. There are many levels at which re-branding can take place: something that ~~you~~ will need to ~~consider~~ in relation to competing properties and the cost as a proportion of the sale price.	+	Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market. There are many levels at which re-branding can take place - something that will need to be considered in relation to competing properties and the cost as a proportion of the sale price.

−	== Signage ==	+	= Signage =

−	Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing ~~material~~ and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.	+	Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing materials and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.

−	== Create a property that stands out from the competition ==	+	= Create a property that stands out from the competition =

	When determining how to re-position your property, consider which changes will make it uniquely appealing: if a prospective owner is convinced that the building is of the right calibre and does not exist elsewhere, you have a sale.		When determining how to re-position your property, consider which changes will make it uniquely appealing: if a prospective owner is convinced that the building is of the right calibre and does not exist elsewhere, you have a sale.

−	== Invest wisely ==	+	= Invest wisely =

−	Finally, ~~don’t~~ overspend. If necessary, seek advice from a cost consultant prior to committing to substantial investments. As a basic rule of thumb, consider that every change should create more value than it costs.	+	Finally, do not overspend. If necessary, seek advice from a cost consultant prior to committing to substantial investments. As a basic rule of thumb, consider that every change should create more value than it costs.
		+
		+	= About this article =
		+
		+	This article was provided by Trident Building Consultancy (TBC) in December 2019.
		+
		+	= Related articles on Designing Buildings Wiki =
		+
		+	* Building activities definition.
		+	* Building spaces definition.
		+	* Change of use class.
		+	* Premises.
		+	* Property.
		+	* Shop.
		+	* Types of building.
		+	* Types of room.
		+	* Uniclass 2015.
		+	* Use class.
		+
		+	[[Category:Cost_/_business_planning]] [[Category:Property_development]]

Trident Building Consultancy at 16:34, 11 December 2019

2019-12-11T16:34:16Z

← Older revision		Revision as of 16:34, 11 December 2019
Line 1:		Line 1:
−	~~Preparing~~ to ~~Sell~~ a ~~Commercial Property~~	+	At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.<br />

−	~~At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.~~

−	More space, more value	+	== More space, more value ==

	The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help you identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.		The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help you identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.

−	The appeal of flexibility	+	== The appeal of flexibility ==

	Open-plan office layouts are increasingly popular. Removing internal walls to allow tenants to create workspaces, break-out spaces and communal areas is a cost-effective strategy. With an increase in remote working and hot-desking policies, spatial flexibility is a top priority for businesses.		Open-plan office layouts are increasingly popular. Removing internal walls to allow tenants to create workspaces, break-out spaces and communal areas is a cost-effective strategy. With an increase in remote working and hot-desking policies, spatial flexibility is a top priority for businesses.

−	Demonstrate demand	+	== Demonstrate demand ==

	Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short term tenants such as ‘pop-ups’) to create a vibrant atmosphere.		Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short term tenants such as ‘pop-ups’) to create a vibrant atmosphere.
Line 17:		Line 16:
	A building consultancy can give advice on lease renewal, whether you wish to terminate all leases upon the sale, or maintain tenancies in a seamless way.		A building consultancy can give advice on lease renewal, whether you wish to terminate all leases upon the sale, or maintain tenancies in a seamless way.

−	Present a building fit for the twenty-first century	+	== Present a building fit for the twenty-first century ==

	Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast internet access and Wi-Fi can modernise a building, both in appearance and function, and provides a competitive edge.		Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast internet access and Wi-Fi can modernise a building, both in appearance and function, and provides a competitive edge.

−	Make a strong first impression	+	== Make a strong first impression ==

	Just as you must attract the purchaser into the building, your purchaser will need to attract staff and customers. If you’re going to invest in any one area of a building, it’s the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.		Just as you must attract the purchaser into the building, your purchaser will need to attract staff and customers. If you’re going to invest in any one area of a building, it’s the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.
Line 27:		Line 26:
	Pay attention to the external appearance, ensuring that the exterior is well maintained and the building is easy to access. With a little more – but worthwhile – investment you could consider changing external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building; a water feature creates a sense of tranquillity and reduce traffic noise, and attractive outside seating can enable employees to benefit from fresh air in their breaks, while not straying too far from their place of work.		Pay attention to the external appearance, ensuring that the exterior is well maintained and the building is easy to access. With a little more – but worthwhile – investment you could consider changing external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building; a water feature creates a sense of tranquillity and reduce traffic noise, and attractive outside seating can enable employees to benefit from fresh air in their breaks, while not straying too far from their place of work.

−	Bring the outside in	+	== Bring the outside in ==

	Experts say that the connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials and maximise natural light. Sustainability is the ultimate buzz-word in commercial property and biophilic design delivers this in a way that can be immediately appreciated by a building’s users.		Experts say that the connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials and maximise natural light. Sustainability is the ultimate buzz-word in commercial property and biophilic design delivers this in a way that can be immediately appreciated by a building’s users.

−	Capture quality in a name	+	== Capture quality in a name ==

	Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market. There are many levels at which re-branding can take place: something that you will need to consider in relation to competing properties and the cost as a proportion of the sale price.		Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market. There are many levels at which re-branding can take place: something that you will need to consider in relation to competing properties and the cost as a proportion of the sale price.

−	Signage	+	== Signage ==

	Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing material and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.		Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing material and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.

−	Create a property that stands out from the competition	+	== Create a property that stands out from the competition ==

	When determining how to re-position your property, consider which changes will make it uniquely appealing: if a prospective owner is convinced that the building is of the right calibre and does not exist elsewhere, you have a sale.		When determining how to re-position your property, consider which changes will make it uniquely appealing: if a prospective owner is convinced that the building is of the right calibre and does not exist elsewhere, you have a sale.

−	Invest wisely	+	== Invest wisely ==

	Finally, don’t overspend. If necessary, seek advice from a cost consultant prior to committing to substantial investments. As a basic rule of thumb, consider that every change should create more value than it costs.		Finally, don’t overspend. If necessary, seek advice from a cost consultant prior to committing to substantial investments. As a basic rule of thumb, consider that every change should create more value than it costs.

Trident Building Consultancy: Created page with "Preparing to Sell a Commercial Property At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property ow..."

2019-12-11T16:32:59Z

Created page with "Preparing to Sell a Commercial Property At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property ow..."

New page

Preparing to Sell a Commercial Property

At times of economic uncertainty, selling a commercial property can be more difficult than usual. The following tips can help property owners to attract a good price for their commercial property.

More space, more value

The value of commercial property is essentially a multiplier of its lettable floor space: the greater the usable space, the greater the value. Not everyone can – or should – take on complicated extension projects prior to a sale, but there are ways in which you can maximise lettable square footage. A basic consultation with a surveyor can help you identify opportunities for more efficient uses - changes such as reducing the floor area in reception to create an additional office, adding mezzanine floors to double-height areas or creating skylights to make use of the top floor.

The appeal of flexibility

Open-plan office layouts are increasingly popular. Removing internal walls to allow tenants to create workspaces, break-out spaces and communal areas is a cost-effective strategy. With an increase in remote working and hot-desking policies, spatial flexibility is a top priority for businesses.

Demonstrate demand

Vacant properties can give the impression that a building lacks appeal, and so voids are a deterrent. Consider renegotiating existing leases, attracting new tenants (even encouraging short term tenants such as ‘pop-ups’) to create a vibrant atmosphere.

A building consultancy can give advice on lease renewal, whether you wish to terminate all leases upon the sale, or maintain tenancies in a seamless way.

Present a building fit for the twenty-first century

Nothing is harder to sell than an outdated, tired property that conjures up fears of asbestos, damp and wiring failures. Improved heating, lighting, super-fast internet access and Wi-Fi can modernise a building, both in appearance and function, and provides a competitive edge.

Make a strong first impression

Just as you must attract the purchaser into the building, your purchaser will need to attract staff and customers. If you’re going to invest in any one area of a building, it’s the reception that matters. Up-to-date fixtures, natural light and well-functioning doors can provide a welcoming environment without being a huge investment.

Pay attention to the external appearance, ensuring that the exterior is well maintained and the building is easy to access. With a little more – but worthwhile – investment you could consider changing external planting and lighting, introducing cladding or new windows. A single feature such as a fountain, green wall or sculpture can give a building a unique appeal. An effective landscaping strategy can influence whether people choose to enter a building; a water feature creates a sense of tranquillity and reduce traffic noise, and attractive outside seating can enable employees to benefit from fresh air in their breaks, while not straying too far from their place of work.

Bring the outside in

Experts say that the connection between the outdoors and indoors boosts productivity, increases satisfaction and lowers operating costs. Consider adding ‘green’ walls (a wall partially or completely covered with greenery), using natural colours and materials and maximise natural light. Sustainability is the ultimate buzz-word in commercial property and biophilic design delivers this in a way that can be immediately appreciated by a building’s users.

Capture quality in a name

Giving a property a name can be quick, inexpensive and immediate. A name should provide character, and identify its purpose and position in the market. There are many levels at which re-branding can take place: something that you will need to consider in relation to competing properties and the cost as a proportion of the sale price.

Signage

Whether a thorough re-brand or simply a freshen-up, new signage pays dividends. Signage will be visible on all marketing material and will influence the impression of anyone entering the building. Consider the wide range of sign styles, materials, sizes and placements that will be necessary throughout the building.

Create a property that stands out from the competition

When determining how to re-position your property, consider which changes will make it uniquely appealing: if a prospective owner is convinced that the building is of the right calibre and does not exist elsewhere, you have a sale.

Invest wisely

Finally, don’t overspend. If necessary, seek advice from a cost consultant prior to committing to substantial investments. As a basic rule of thumb, consider that every change should create more value than it costs.