Commercial Property Refurbishment
What can you do in a slow property market to reduce your voids and maintain profitable rental yields?
The fact is that tired and dated properties never attract top quality tenants, so when we experience a downturn in the commercial property market, the values of the tired estates and buildings diminish faster than the attractive ones.
Yet we know that companies are still looking to rent and buy commercial space at the moment, so what can you do to increase your chances of securing a new tenant or buyer?
At Edgeworth Street, we’ve been proactive in suggesting cost efficient makeovers and refurbishment projects to our clients with superb results.
Having handled many of these projects, we have a proven formula designed to spruce up tired estates and buildings, having taken some industrial estates and transformed them from high void rates to being close to fully let by the end of the refurbishment scheme.
Our refurbishment programmes are extremely flexible as we work closely with clients to ensure that the suggested programme of works is both financially viable and commercially attractive.
What’s more, for larger projects, we offer a free feasibility study so there’s absolutely no risk in asking our advise.
Space Reconfiguration
Sometimes it’s not just the appearance of an estate or building that makes it difficult to let, it’s the actual configuration of the space itself.
What do you do with a 100,000 sq ft industrial unit with offices and mezzanine floors these days?
In the current market, it might be more sensible to reconfigure the space and split the property into several more attractive units.
Again, we have successfully completed several projects of this nature, resulting in new lettings, rescuing an otherwise unattractive building from dereliction.
Reconfiguring larger spaces, whether they are industrial units or office blocks, often makes financial sense and need not be as expensive as you might imagine.
By following a proven formula and working closely with professionals who know how to deliver, your risks are considerably reduced.
We’d love to talk through some options with you and again, would be happy to meet you on site and discuss our methodology.
There is no cost involved in these exploratory discussions and initial feasibility studies are free for most clients.
For more information please call David Carter or Robert Street on 0121 711 7110.