If you have an existing commercial space that requires a refresh or you’re looking to lease or purchase a new commercial property, a commercial refurbishment might be the answer to your problems. Commercial refurbishments can be done at any stage in the life cycle of a business, and they can also serve as a catalyst for change in your business. A good commercial refurbishment will help revitalize and re-energize your brand, providing an opportunity to increase the value of your business through increased occupancy, lease rate or resale value. Reciprocal benefits come from undertaking a commercial refurbishment project. It is not just an investment but also an investment in future growth. There are several benefits associated with undertaking this project:
Commercial refurbishments are a great way to improve the appearance of your business. After a refurbishment, you can expect new features to increase the value of your property. If you plan to sell your building at some point, a refurbishment will increase the resale value and make the sale much easier. If you plan to lease your property, tenants are typically willing to pay higher lease amounts when a business property has been recently renovated.
Commercial refurbishments can help you increase your bottom line by increasing occupancy, lease rates and rental rates. On average, commercial tenants are willing to pay a premium of up to 10% when their unit has been recently refurbished. If you plan to sell your business, refurbishing your property will help increase the value of your business.
As mentioned above, the idea behind undertaking a commercial refurbishment project is to change something in your business. This can be an opportunity to change location, change your business model, change your image or even change your target market. If you’re undertaking a commercial refurbishment, it is a good idea to change something about your business.
A commercial refurbishment provides a unique opportunity to lease your business. When your business is leased, you are getting a guaranteed income for a specific period of time. If you plan to sell your business, undertaking a commercial refurbishment can help increase the value of your business.
If you own or lease a commercial property that requires some attention, a commercial refurbishment is a great way to get your business looking fresh and new. You’ll benefit from increased occupancy, lease rates and rental rates, you’ll have a platform for change, and you’ll help lease or sell your business.
Comments