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6 ways to add commercial value

Getting creative, thinking outside of the box and embracing technology are crucial when it comes to finding ways to add value to commercial properties.

Monday, July 24th 2017, 12:00AM

by The Landlord

Property Council chief executive Connal Townsend

It’s not hard to think of effective tactics which will add value to a residental property.

You could jazz up the kitchen, add in another bedroom, build a granny flat or even just do a fresh paint job.

But commercial property is a different ball game.

While the fundamental principles might be the same, everything in commercial is on a larger, more complex scale.

There is more money involved and different types of tenants too.

That means it is necessary to think differently when looking to add value to a commercial property.

The area and location of the building is crucial to consider when looking to add value, as does its grade.

This is because you don’t want to over-capitalise for the market you are in or the tenants you are aiming to attract.

Property Council chief executive Connal Townsend said the key to maximising value on a commercial property is twofold.

The property’s capital value should be held steady and it should be kept occupied.

Over time, the owner should work to improve the physical asset and its rental income – both of which add value, just as in residential.

In this month’s issue of NZ Property Investor we give a rundown on the six key ways to add value to a commercial property.

Here they are:

1. Don’t overlook the basics
2. Repurpose space
3. Think ahead on compliance
4. Boost revenue streams
5. Maintain relationships
6. Look to leases

To read the full details of our value adding suggestions and some top tips, click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.
 

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