Commercial & Industrial Refurbishments
In this week’s blog, we are looking at the benefit of a major refurb to commercial & industrial units, and how it’s a great way to see a significant Return on Investment (ROI) and capital increases on your valuable assets. To achieve this, it is important to change your mind-set from seeing maintenance as a “necessary evil” to understanding how it can help you achieve these financial gains.
When you look at a typical industrial unit, with a small warehouse & office set up, the most common issues presented by our clients can be broken down as follows:
1. Older units look tired and weary and are unappealing to tenants.
2. This impacts the quality of tenant they are able to attain, the rental they are seeking and the length of the lease
3. This in turn reduces the security they were seeking in having a commercial unit
While it can be daunting budgeting for any sort of refurb, it is key to look at the benefits that the refurb will bring about, as well as being able to pay for themselves by attracting better tenants who want to stay for longer. Working hand in hand with our clients, we have been able to come up with ways to make their commercial and industrial units more appealing to prospective tenants as well as increasing the value of the property if they wish to sell.
Examples of some of the work that we have undertaken for our clients to help improve the condition that their units are in include:
· Roof replacement
· Full interior/exterior repainting
· Modernising the front entrance
· Updating bathroom and kitchen areas
· Upgrading the HVAC unit
To complete jobs such as above, multiple specialist contractors are required and this is where our team can help you. We have a pool of preferred suppliers (who all meet our skill level expectations) that we are able to call upon quickly, as well as effective systems and processes that help us to coordinate numerous trades efficiently.
We have job management software that the Client has access to, where we clearly define the scopes of the work and layout the timeframe for the job. By having this level of transparency and the open lines of communication we can ensure everyone involved is clear on what is happening throughout the job and the project is completed on time, on budget and to the standard that is expected
If you are looking at commencing a commercial refurb project for yourself or your client, then get in touch with our team today and we can run you through the ways we believe a refurb could benefit your property and how we can help achieve that.