If you own a commercial property, are planning to purchase one, or are getting one constructed, you should know that there are a few elements that can help you improve the value of your property.
In other words, by making strategic improvements to the structure of your commercial building, you can increase the cash flow of the property as well as its resale price.
For example, if you are planning to construct a mall, adding fountains, seating areas and well lit patios will help improve the value of the mall and increase the rent of the shops. Similarly, if you are planning on building apartments, adding a gym in the basement, developing green areas in the surroundings, and ensuring availability of good schools in the area can greatly increase the sale price of the apartments.
In this blog, we have detailed some of the elements that can help you improve the value of your commercial property.
Greenery and vegetation is something people have started to appreciate a lot more. Hence, whether you are building a mall, an apartment or a hospital, creating parks in the vicinity with evergreen trees, soft grass and a few fountains in the vicinity can greatly improve the value of your property.
Low Maintenance Structures
Another way to drastically improve the value of your commercial property is by using construction materials that are low maintenance. If you use very high maintenance tiles, marbles and other materials, you will have to employ a larger workforce for cleaning and maintenance purposes. This will hinder your cash inflow and will also deter any potential buyers if you are looking to sell the property.
Add Eco-friendly Features
Eco-friendly structures and elements in construction are all the rave nowadays. Hence using eco-friendly materials and adding structures that promote environmental health can improve your cash inflow as well as add more curb appeal to the building.
In addition to this, you can repurpose different spaces. If the building has been constructed for a while, consider using the space for a purpose other than what it was originally intended for. For instance, imagine a large industrial warehouse in the heart of downtown. While this type of building is fine to have in your portfolio, its value can be greatly increased by using it as an artsy hotel or a trendy condo. You can also convert unused areas in a building into a gym, coffee shop, sitting area and more.
As mentioned, people are all in for open spaces and natural elements. Hence adding cozy and well lit patios with benches, a little greenery and good aesthetics can greatly add to the value of a mall, an apartment building or a hospital.
Moreover, keep the functionality of different areas in mind. Don’t waste spaces, make all the areas of your building functional and accessible.
BelVan construction is a premium construction company in Alberta, Saskatchewan, & BC. We are qualified commercial general contractors based in Edmonton. We have offered various business experts general contracting, project design-build, pre-construction consulting, and construction management services since 2011.
Right from the start, our primary focus has been on providing our customers with premium yet affordable construction and renovation services in a respectful, responsible, and reliable manner. In each of our retail construction and renovation projects, our goal has been to make the clients’ needs our top priority with a commitment to providing excellent all-around service.
To get in touch with Edmonton’s leading commercial general contractors to build yourself an effective and productive commercial space, click here.