Buying a commercial investment property is much like finding the perfect dress for your wedding. It’s a crucial and important aspect and one that comes with a long list of requirements, many of which are non-negotiables. We simply cannot have it any other way. What are these, you may ask? Here, take a look.
FOOT TRAFFIC – In business school, this is defined as the level of public exposure an establishment gets and is measured by the number of people that is exposed to it regardless if they are customers or not, whether they buy or not, whether they enter or nor and whether they walk past or drive by. The higher the better. Metropolitan districts and densely populated areas are examples of such places.
SAFETY – We want assets to be safeguarded ad this means choosing a property that is safe from structure to location.
MARKET VALUE – For obvious reasons, the higher their value at present and in the foreseeable future then the better. This means that the owners get to capitalize on any gains there are as time goes by.
LOW ONGOING COSTS – Maintenance costs are a huge part of owning a commercial investment property. They do not form part of the list price but instead are spent after the acquisition on a regular basis. A high number means they are expensive to own and to keep functional.
CONVENIENCE – Choose ones that are accessible to and from for customers, employees and vendors altogether both for public and private transport. A commercial investment property would cease to be effective if people find it difficult to reach.
FLEXIBILITY – Investing in a property that allows for multiple uses makes a great investment because its versatility is good value for money. If it can easily be tweaked as needs change overtime, it becomes a space that does more than needed.
ADEQUATE SPACE – Commercial teal estate must have enough room for everything and everyone. The exact dimensions however will vary as users needs are alao different.
LONG USEFUL LIFE – Why invest on something that wouldn’t last to begin with? That’s just a total waste of money and no investor seeks that.
LOCATION – The location of a commercial investment property says a lot about whether or not it adds value to the business and by how much. It is also a driving factor that affects the presence or absence of the above aforementioned features.
Buying a commercial property is one thing but creating a productive space is a whole other task on its own. It’s challenging too and all the more because we have to be both efficient and effective at the same time. Additionally, we need to blend the perfect balance between aesthetic and function starting off with colors.
Most people would come to think of choosing colors for an office as something like buying toilet paper. It’s a must and one that doesn’t require a lot of brain work. But in contrary, hues play an integral role not only in establishing branding but also in providing visual cues that nurture productivity and creativity in the work space.
But how exactly do we pick? What separates a good choice from a great one? We’ve got some tips!
Consider the logo. The elements and hues in the corporate logo play a huge role when it comes to picking colors. This however does not go to say that we should paint all the walls and buy furniture in the said hues because that can be too overwhelming. Opt for accents or details instead.
Think psychology. Science tells us that hues have a subconscious effect on people especially when exposed to them during prolonged periods of time. For instance, many companies choose blue for their logos to signify loyalty and trustworthiness while restaurants go for red, orange and yellow interiors because they increase one’s appetite. Offices are no different. To better illustrate here’s a list of the more popular colors and what they mean.
Blue — Promotes a sense of trust, loyalty, efficiency and communication. It’s known to harness calmness which is why it’s known to lower blood pressure, respiration and heart rate.
Yellow — It’s a high energy hue that stimulates optimism and energy. But too much can be too loud creating anxiety or even building bad temper.
Orange — It generates enthusiasm and is known to help boost creative performance. Like yellow, it’s a high energy hue great for creative spaces.
Red — An appetite and brain stimulator, red is best for offices with a lot of physical activity or graveyard shifts.
Green — Of all the hues, green is the most eye friendly. It also boosts creativity and innovation and even promotes harmonious balance.
Choose the right intensity. How intense a certain color is affects how we respond to it. This is why darker shades can sometimes feel cold or too stiff, pastel shades can be innocent and sweet and brighter shades are loud and energetic. Additionally, highly saturated hues are more stimulating which makes them great for brainstorming rooms while low saturation colors are more calming.
Maintaining your commercial property investment UK is crucial for a number of reasons. For one, upkeep is necessary to ensure that it stays functional. Second, this helps in ensuring that value is preserved and appraisal is more likely to happen. Third, it has something to do with presentation. No customer will want to approach a dilapidated and forlorn looking establishment, now would they?
This is why today we’re dishing out some tips on how it is to be done. Check out the following maintenance tips for your commercial property!
Improve your curb appeal. – Like they say, the way you carry and present yourself matters. First impression may not last but it speaks legions. The same is true even for real estate assets. If you want people to come in then you have to start in the exterior. Mow the lawn. Clean up your curb. Manicure the garden, if any. Update your display window. Touch up the paint. Use an eye-catching signage and what have you.
The inside matters too. – Yes, at the end of the day it’s what’s within that truly counts. On that note, ensure that you also maintain the interiors as much as you do the exteriors if not more. Replace any fixtures that need changing. Check on your wiring and plumbing system on the regular. Touch up on paint too as need be. Keep things tidy and ergonomic.
Check where the water is. – Water may seem harmless but remember that it erodes mountains. If left unchecked, it can bring serious issues. Take your gutters and downspouts for example. You’ll have to clean them regularly as leaves and other debris can get stuck in them and cause clogging. Rain water will then fly out from everywhere which isn’t good as it can cause rotting in particular areas of the property. Don’t forget to check your plumbing, irrigation and drainage systems too!
Schedule annual roof inspections. – Your roof is one of the biggest investments you’ll have on your commercial property. Ensuring that it stays in tiptop shape is crucial so as not to suffer serious issues later on which will no doubt be very costly.
Always go for immediacy. – One of the best maintenance tips we can give you for your commercial property investment UK would have to be on timing. The earlier you answer to things, the lesser chances for them to worsen. Plus, remember how often we’re told that prevention is better than cure? Maintenance may require you to dish out cash but keep in mind that replacements will cost you far more.