6 Ways to Increase the Value of Your Commercial Property for Resale

imagesIf you’re planning on selling your commercial property, you’ll want to know exactly how to get bids that match its true value. If you’re a savvy seller, you’ll want to know how to increase the value of your property before it is sold.

There are plenty of simple steps you can take to increase the value of your premises with minimum effort, money, and time. Here are Projex’s top 5 tips for increasing the value of your commercial property before the sale.

1. Get the lighting right

Lighting can make an enormous difference in the appearance of an office or store. Is the lighting making it appear as big and clean as it could? Take a look at the lighting in every room, both during the day and during twilight hours, to make sure it is showing off your business’s true potential. The placement, fixtures, and type of lighting you use will all affect how a room is lit.

During the day, ensure rooms are receiving as much sunlight as possible. Curtains and blind shutters should be open, and don’t forget to make sure your windows are clean! At night, you’ll want to make sure that any lighting used in each room is suitable for security purposes.

Standing lamps and floor lamps can help you achieve a temporary lighting solution that is relatively low cost. If you have display tables in your store/office, stick-on strip lights can be extremely useful for lighting the area underneath.

Sometimes all it takes is a simple lampshade swap to ensure light spreads evenly in a room. For example, a dark lampshade on a hanging bulb will focus the light down, whereas a white shade covering the entire bulb will let the light flow at all angles – and it will look clean and minimalist.

2. Turn the premise into a clean, blank canvas

The first step to achieving this is removing all elements in the office that reflect you and your business personally. You may think pictures of your customers all over the walls add a nice ‘homely’ touch, but to the buyer these personal touches will just cloud their ability to imagine the office as their own. Remove pictures, ornaments, and any unnecessary furniture.

The second step is to give the property a deep clean. This means getting in every cupboard, wardrobe, and drawer, and cleaning it properly. Pay attention to carpets, fixtures, and windows as well. A clean office is an incredibly inviting one, so assume that your buyers will be looking absolutely everywhere, and clean every single inch of the property.

3. Do necessary DIY

If there’s a job that desperately needs doing, now is the time to do it. It may feel like a bad idea to spend hundreds on a property you’re about to sell, but you will make that money back if you’re savvy about what you fix. Get any wall holes plastered in, paint any rooms that need a freshen up, and pay for someone to deal with any pest issues you may have noticed.

If there are any major jobs that will cost a bit to fix, you can either consider this an investment and fix them before you sell, or leave them for the next owner to take care of. If you go for the second option, expect to take a lower offer simply based on these jobs that need doing.

4. Ensure the property is still structurally sound

If you own the whole commercial property, then before you list it on the market it can be a good idea to have a professional contractor check the building. They can ensure that the frame is structurally sound, that the waterproofing on your commerical building is not leaking anywhere, and that you don’t have anything seriously wrong with the building.

5. Make it eco-friendly

Curbside appeal is still a huge factor in selling a property, but so is carbon appeal. New buyers care about whether or not their new property is eco-friendly. This doesn’t mean you should swap your regular toilet for a compost set up right away, but it does mean you should do what you can to make your office energy efficient. Get water-saving plumbing fixtures, a tankless hot water heater, and invest in some wall and loft insulation if you have the cash to do so.

6. Make renovations that add to the property value

When it comes to property sales, there are a number of areas that you can renovate that will generally return more value than what cost you put into them. In residential properties, people consider upgrading your bathroom, kitchen & total number of bedrooms to be of high value and whatever you put into these will generally return much more in value during the sale.

When it comes to commercial properties you can see a similar return on investment when you upgrade your bathroom facilities & boardrooms. So if you have the cash spare to put into these before you put the property up for sale, you should do so.