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Budget friendly ways to raise commercial property value

Posted: Mon May 16, 2016 10:12 am
by Not Lofty
Hi, I'd purchased a commercial property a few years ago but it hasn't really increased a lot in value and vacancy rates have gone a bit high instead. I'd really appreciate if anyone can give me some budget friendly ways that I can raise the value of my commercial property and attract tenants too.

Re: Budget friendly ways to raise commercial property value

Posted: Mon May 16, 2016 12:53 pm
by Otto Dargan
Hello Not Lofty.

Welcome to the forums.

Here are some budget friendly ways you can increase your commercial property value:
  • Clean up - By having clean moped floors, tidy fixtures and windows, and dusted or even steam cleaned carpets, you can make your commercial property look so much more attractive and increase its value to tenants.
  • Lighting - The right type of lighting can make an office, warehouse, factory or any other type of commercial space look bigger and cleaner. Although clean white light is often the best, it can also depend on the paint and room type. You can also keep any shutters and blinds open and windows clean to allow maximum amount of light into the rooms.
  • Repairs - Holes in walls can be plastered, a fresh coat of paint can be added and old and tattered carpets can be replaced to help make your premises look brand new again. This won't usually be very expensive as long as your property is structurally sound.
  • Renovation - You can add in cosmetic renovations that have a broad market appeal to increase your commercial property value. This includes adding in wow factors such as dimmer switches, feng shui and recessed lighting. These may cost a bit more but can add a lot of value especially if they are in demand or popular in your area.
You can also check out the increasing your house value page for more tips.

Cheers,
Otto

Re: Budget friendly ways to raise commercial property value

Posted: Mon May 16, 2016 4:49 pm
by Not Lofty
Hi Otto, thanks for the tips. I'm also looking to buy another commercial property, an office, and I want to know if you guys can help with that.

Re: Budget friendly ways to raise commercial property value

Posted: Tue May 17, 2016 9:02 am
by Otto Dargan
Hi Not Lofty,

We have specialist mortgage brokers that can properly assess your situation and needs to help you borrow more to buy the commercial office.

We can also help you get a great commercial interest rate on your mortgage.

This is because we're commercial loan specialists and have relationships with the commercial arms of almost 40 lenders including the big four banks.

You can check out our website to learn more or speak with one of our mortgage brokers directly by calling us on 1300 889 743. You can also enquire online if that's more convenient.

Cheers,
Otto

Re: Budget friendly ways to raise commercial property value

Posted: Tue May 17, 2016 12:27 pm
by Not Lofty
I'd really like to borrow the maximum LVR I can get, hopefully, at a competitive interest rate so I'll call your office to see how specifically you guys can help with that.