At a glance:
- First impressions matter. So, fresh paint, landscaping, and lighting can enhance the value of your property.
- Secure long-term tenants for steady income who can increase the resale value by making them an attractive investment option.
- Modern layouts and updated interiors attract buyers who are willing to pay a premium price.
- A professional valuation ensures competitive pricing.
Property owners tend to resell their commercial property for a number of reasons, such as personal, business, tax, or perhaps simply to make a good profit. Regardless of the reasons, it’s obvious that everyone wants to sell their property at the highest value.
But, in commercial real estate sales, achieving maximum resale value requires a lot of planning and strategic improvements.
If you own an office building, retail property, or industrial property, this article will guide you with six effective ways to maximise your property’s worth and attract serious buyers.
Enhance the Property’s Curb Appeal
We all have heard the saying that “first impression is the last impression.” It applies to your commercial property when you want to list it for a resale purpose too. Even if your property is great internally, it can disinterest potential buyers when the property is not up to par from the outside. As a result, prices can decrease significantly.
To avoid that, you need to make sure that your property has a well-maintained curb appeal. You can use fresh paint, power washing, and exterior cleaning. Likewise, if there are any broken windows or walls, repair them immediately. You can also do professional landscaping and maintain the walkways and parking areas to increase the value.
Upgrade Building Infrastructure
When the property is in good condition and meets modern requirements, there is a better chance that the buyers might pay a premium price. This is mainly because they won’t have to spend time or money on replacing and upgrading the infrastructure.
For this, consider improving energy efficiency infrastructure with LED lighting, insulation, solar panels, and smart thermostats. You can also further upgrade technology enhancements, like internet connectivity and a smart security system, and ensure the building meets safety and accessibility standards.
Upgrading the property will attract buyers who might want to buy it as an investment or for lease.
Maximise Rental Yield and Occupancy Rates
A property that is more occupied with good, long-term tenants gives the owners a good return. It shows that your property is in demand, which makes commercial real estate a very appealing option for potential buyers looking for a good investment.
As a property owner, you can secure long-term lease agreements with reliable tenants and offer better facilities at a good rate to ensure that the tenants will stay with you for a longer time.
If you need help securing tenants before the sale, reputed real estate agency can help you attract and retain high-quality tenants who will add value to your property.
Optimise Interior Layout and Usability
Just like the exterior of any real estate, the interior also has a huge impact on the overall price of your property. Having a useful and versatile space will help you earn more during the resale of your commercial real estate.
Modern buyers look for versatile spaces that can be easily adapted for various business needs. For instance, the open-plan layouts allow flexibility for future tenants.
You can modernise interiors, update fixtures and contemporary fittings, declutter spaces, etc, to maximise the resale value of your property. Plus, investing in quality furniture might automatically appear as a high-value property to buyers. If there are any underutilised spaces, you can repurpose them into trendy condos or warehouses.
Conduct a Professional Property Valuation
Instead of guessing the value and listing it in the market, you can engage a professional appraiser to sell your commercial property. They will be able to give you a clear idea of how much your property is worth through an in-depth assessment.
First, knowing the true value will help you price your house competitively. Second, it will boost your negotiating power when dealing with prospective buyers.
Implement a Strategic Marketing Plan
To increase the value of your commercial property, you need to prepare and execute a strategic marketing plan. You can list your property for sale on a leading commercial real estate platform.
Suppose, if you are in the Melbourne region, top commercial real estate agencies will make sure that your property reaches the right buyers through targeted advertising and industry connections.
All in all, to optimise the resale value for your commercial property, focus on smart upgrades, good tenant management, and attractive marketing. If you are about to sell your commercial property, contact an expert team of professionals for the best value and return.
