The Games may have ended, but that doesn't mean development is slowing down on the Gold Coast. The city has continued to experience sustained population growth and a boost in tourism as new businesses set their sights on the Gold Coast.
With so much interest, there's never been a better time to add office space to your portfolio. But how can you ensure it will be profitable and consistently rented. The answer might lie in a ready-to-go fitout. Here's why.
Whether you're starting a business or simply moving to a new workplace, furnishings can be a major stumbling block. Acquiring desks, chairs, meeting rooms and kitchenette furnishing doesn't just cost money – it also takes up time, which is something most business owners simply can't afford.
That's why many tenants are on the look out for furnished offices. Ready-to-go spaces, equipped with all furniture as well as phone and fibre cabling offer a number of key advantages:
Furnished offices are guaranteed to look professional, which is particularly important to businesses who regularly bring in clients or prospective candidates.
If you're starting from scratch, it might take some time to finish your decor, making the space look unprofessional and incomplete.
Renting a furnished office will also cost less than buying everything up front. For this reason, new businesses and startups often choose furnished spaces.
A business' future is often unpredictable. You never truly know what you'll need five or ten years down the line. To this end, many people prefer renting a furnished space that can be scaled up as needed.
Investors can boost their rental potential by adding other features, such as nice office equipment or kitchen appliances. These amenities can have strong appeal for businesses who want to hit the ground running in a new space.
A ready-to-go fitout could even be the secret to finding tenants for an otherwise difficult rental property. People might choose to move into fitted tenancies despite a building being older or in a less desirable location simply for the convenience.
It's important to keep in mind, however, that office trends change frequently. If you decide to furnish your office space, choose neutral, high-quality products and put practicality first. Buying a foosball table, for example, might appeal to some tenants but will be wasted on others.