In an industry as competitive as commercial property, offering an attractive product is vital to the success of a business. For the landlords who we work with at Curchod & Co, we go the extra mile in providing support in the negotiation and management of buildings. More often than not, there are key aspects of the property itself that can offer marginal gains in making that space attractive. So what are the key desirable aspects of a building or unit?
1. Fit for purpose
First and foremost, the function of your office space should be clear and defined. Don’t try to be all things to all clients. Is your space fully serviced? Is it designed as a shared space or a central HQ? By structuring a layout with a clear end user in mind, the space becomes more attractive to that tenant.
As both office and warehouse based technology moves forward apace, it can feel impossible to predict what facilities to have in place. Different sectors tend to have different requirements, although many basic needs are universal. Therefore, in order to future-proof a commercial space, you must provide flexibility. Smart, wireless technologies and connectivity mean that working spaces can become ever more efficient, and this efficiency is attractive to businesses.
3. Internal Decor
There is a fine line between too little and too much when it comes to internal decoration of a commercial space. For HQ buildings, offer a blank canvas space that has the scope for an organisation to decorate in line with their branding. Don’t confuse ‘blank space’ with ‘unmaintained’ though! So when taking this approach, keep it fresh and clean. Conversely, for serviced or shared office spaces, take the time to create some personality and vibrancy in the decor. This will be attractive to emerging start ups.
4. External Repair
For building owners the exterior of a building is vital to your investment’s first impression. A well maintained exterior which is in keeping with its surroundings is memorable for both visitors and users of a building. In this way it’s key to implement a planned and scheduled decorative maintenance programme. This can be easily undertaken by a property manager like Curchod & co.
For many commercial organisations, the entrance to a premises is instrumental in making impressions on potential clients. So showcase your building lobby or reception area as a benefit to your building. Since this part of a building can have benefits to a tenant’s business, it is worth your extra attention.
6. Social Space
The modern office prioritises social and flexible space. So does your building accommodate this demand? From kitchens to relaxed meeting hubs, staff wellbeing can be improved through conscientious design. Your tenant may want to supply games such as table football if the business is active and energetic. Or they may prioritise quiet zones for focus and analysis. Your building should provide the scope for these possibilities.
7. The Infrastructure
This means more than simply technology. Lighting, heating and cooling are features of a space which should not be overlooked. Supplying good quality utilities mean that a tenant is more likely to be retained in your space, reducing the frequency of turnover. These systems rely on regular maintenance to remain effective. This side of managing your building is often much cheaper and efficient when managed by a property professional.
The ecological impact of a building is something which is a deciding factor for many modern businesses when they choose their HQ, warehouse or office. Although sustainability is often standard amongst new builds, it can be implemented during refurbishment of an existing building. The initial costs involved in sustainability can be off-putting. However, even comparatively small features can enhance prospective tenants’ environmental appeal; for example recycling systems, bike storage and communal spaces.
Putting extra care in your building will bring returns in the rental income that this building generates. Maximise this income by consulting our professionals and finding your tenants through Curchod & Co.