Many commercial property investors see the properties that they hold merely as a source of generating revenue, rather than an asset which over time can be significantly improved. Considering the break neck competition prevailing in the present commercial property market, this however can prevent you from getting maximum return or profit on your investment. If you own a commercial property, then there are a number of valid reasons to remodel it. For instance, commercial renovation can substantially improve your property’s resale value. By renovating it, you can even increase the rent amount. The tenants surely would not mind shelling out a good amount for a well designed commercial space offering premium facilities.
On top of that, retail customers are always attracted to shops or restaurants that provide them with extraordinary experience. Besides good customer services and quality products/food, comfortable and appealing interior will attract and hold your customers longer in your premises and there goes your sales! Therefore, if you are thinking of opening an shop outlet, there is no reason for you to think twice to renovate your premises with attractive design and quality materials!
For this, LKY Renovation Works is here to support you in achieving your business goals!
Click on the link below to see how we could work with you in enhancing your business opportunities.
Nevertheless, here are some tips for those who wish to make improvements in their commercial property without spending much.
One of the best would be to make eco-friendly renovations. Making green renovations is like killing two birds with one stone. Some simple green changes that can be made include replacing single paned windows with double or triple glazed energy efficient windows, replacing traditional lights with CFL bulbs etc. If budget is not an issue, then you can consider making more extensive upgrades, likes installing elevators which capture electricity while descending. In case you are planning to sell your commercial building in the near future, using recycled or sustainable materials in the renovation process can highly improve your chances to sell it quickly and at a better price. Green buildings are a symbol of prestige and moral obligation and thus buyers would definitely like to purchase your “green” commercial property.
If the increasing electricity and water bills are one of your major concerns, then you can install rainwater collectors and solar collectors on your building’s roof. Most of the green upgrades make a piece of property more habitable while considerably reducing the cost of operation at the same time, but the most unquantifiable benefit that one gets through these eco friendly renovations is the reduced impact on the environment. However, there are certain hazards involved in commercial renovation regardless of what type of upgrades you plan to make. To avoid renovation disasters, it is advisable to take time while interviewing and selecting a contractor or designer. Above all, make right plans and then stick to them. Proper planning can play a key role in a commercial renovation project.