Increase Rental Yields With Our Refurbishment Service
Because we specialise in commercial property, we understand the pressures that landlords face in a less-than-buoyant market and offer a service that is geared towards minimising costs whilst maximising rental potential – and in many cases, leading to increased rental yields.
It all starts with a site survey to determine the level of disrepair.
We then provide a menu of costed options that will improve the property, focusing on the things that tenants are actually looking for. This is particularly the case with run-down industrial estates and office blocks, because sometimes, relatively minor cosmetic changes to a property can make all the difference in “kerb appeal”, leading to increased interest from potential tenants.
Many institutional investors and landlords are based far away from their investments and might not realise the real condition of the properties.
We therefore record the current condition of individual properties and entire estates and compare them to alternative business accommodation that is available locally, with the aim of bringing the properties back up to a reasonable specification that today’s tenants expect.
This doesn’t mean that an entire estate, office block or shopping centre requires immediate investment, in fact quite the contrary, since we have a number of larger scale projects where we started out with the refurbishment of a single unit within an estate or development and made it into a show unit.
By taking this approach, we were then able to carry out further refurbishment on other units as tenants expressed their interest, adding the individual tenant’s requirements to the specification as necessary. This approach is far more flexible than normal and tenants are quick to realise the advantages of having their units refurbished and getting the properties adap[ted to how they will use them at the same time.
Our strong project management skills ensure that your tenants are in place in the shortest possible timescales and of course, all works are properly tendered before commencement of any project, so you can be certain that you’re getting the best value for money.
Naturally, the better quality the refurbishment, the more chance you have of gaining an uplift in the rent – and even major items such as roofs can be accommodated when a long lease is being taken out, as the cost can be amortised over the duration of the lease, with the tenant being responsible for on-going maintenance of course.
If you have problem properties or estates, talk to us today on 0121 711 7110 and discover how we can help you fill your void properties and increase rental yields anywhere in the country.