3 THINGS TENANTS LOOK FOR IN A SYDNEY RETAIL PROPERTY


 

Transcript:

When businesses look for retail property in Sydney, they generally look for a few important qualifications. If you can offer the following three things, you’ll have plenty of potential tenants to choose from as you fill your commercial property space.

The first thing tenants look for in a retail property is value. After all, these businesses exist to earn a profit. They’re not going to pay more than is necessary for your space, so pricing your property accurately is essential. To find the going rate for retail property like yours, find out the going rate for similar spaces that are already occupied. It’s often easier to find out the asking prices for these properties because they’re advertised online, but the negotiated prices may differ. As you’re comparing prices, find out what’s included. Do the rents include utilities and cleaning services? What are the terms of the lease? Do the other properties offer amenities like shared spaces, landscaping, and on-site parking? Armed with this information, you can competitively price your retail property. We can help you to arrive at the just-right figure to maximise your own profits while offering great value to your tenants.

The second thing tenants look for in a retail property is good looks. When customers drive by your property, do they have a desire to stop by? That’s what businesses are looking for: spaces that are inviting enough to attract customers through their door. If your property could use some upgrades, consider where best to put your investment. Fresh landscaping can make a big difference in your property’s looks. A new facade or even just fresh paint and carpet can go a long way to increasing the visual appeal of your retail space.

Good management is the third thing your prospective tenant will look for in a retail property. Business owners have so many details to think about. Not only do they need to hire and train employees, deal with regulations, and track cash flow and payroll, but they also need to market their goods and services and keep business coming in for the future. The last thing they need is to deal with unreliable management of their rental space. By offering high-quality, reliable management for your retail property, you can attract great tenants and keep them there for a long time. We’d be happy to discuss what you can do to make your Sydney Retail property more attractive to tenants. Give us a call and let us know how we can assist you.


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