3 ways to upgrade your commercial property investment

By Greg Bell

Want to make your commercial property investment more attractive to tenants? To do so, you'll need to make certain changes and renovations. 

To add the most value, it's essential you understand what modern Gold Coast business owners are looking for. Here are three changes that will make your commercial space that much more rentable. 

1. Go green

Sustainability is a major priority for businesses today. More than ever before, Australian businesses are going green and trying to reduce their environmental impact. To this end, make your commercial property stand out by adding certain eco-friendly changes. 

This will not only keep your property relevant in today's market, but also reduce your overall operating costs. For certain renovations, you can even get tax incentives. 

Such options include:

  • Solar panels, 
  • Energy conserving windows and doors,
  • Dual flush toilets, 
  • Efficient appliances. 

2. Add fast, fibre internet

Despite the National Broadband Network initiative, the majority of Australian businesses use a DSL broadband connection (62 per cent), according to the Australian Bureau of Statistics (ABS). The ABS also reports that organisations use the internet for a number of essential tasks, including:

  • Online banking and invoicing (87 per cent of businesses),
  • Marketing and developing company image (79 per cent of businesses),
  • Communicating with customers (70 per cent of businesses),
  • Enabling working from home (46 per cent of businesses). 

Therefore, fast, fibre-connecting internet is an excellent asset for commercial properties, particularly office spaces. 

3. Increase the rentable area

You may also have a hard time renting out your property if it has a poor layout or design. That's because within every property there is total square metres and rentable square metres. When a building has large unfinished spaces, impractical corridors or dividing walls, there isn't much rentable area. 

Ensure your entire property can be monetised by making certain alterations to maximise useable area. Think about where you have dead space in your property. This might include closets or sections blocked off with unnecessary doors and walls. Consider what you could do to remove these features or convert them to more useful areas for a business. 

To find out about buying or leasing commercial properties on the Gold Coast, reach out to the team at Ray White Surfers Paradise Commercial. 

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