If you’re seeking to purchase a commercial investment property, here are five features you need to consider to help attract your future tenant.
When purchasing a commercial investment property there are a number of macro and micro economic factors you need to examine to ensure you acquire a high-quality asset.
These include the area’s future demand and supply for similar properties, major infrastructure initiatives and broader economic activity, among others.
However, it’s also crucial to consider some specific aspects of the property itself, particularly tangible features that a future tenant will look for and find appealing.
These features generally differ depending upon the type of commercial property, such as industrial, retail or office, because tenants in different properties demand different amenities.
Here are five features you need to consider in your next commercial property to help you attract your future tenant.
- Truck turning circles.
- Truss heights – standard heights are typically about 7-8 metres.
- Office component – typically about 25%-30% of floor space needed for offices.
- Overhead crane facilities.
- Door access – is this big enough for bulky goods?
- Foot/car traffic – is the shop frontage in view of a highly-used footpath or road?
- Accessibility – is there good public transport or major roads nearby?
- Locus of activity around the property.
- Car parking – is there sufficient parking facilities and are these paid parking or free?
- Signage rights – what are you and your tenants entitled to?
- Employee accessibility – are there sufficient parking facilities or is it close to public transport?
- Telecommunication – is this sufficient for tenant needs?
- Sufficient useable floor plate.
- NABERS/Green Star rating – is it a high-performing building?
- Air conditioning facilities.
While these are not the only aspects you need to consider when searching for a commercial investment property, they’re a good start and are features that are generally demanded by tenants.