Team Build Construction

8 Signs That Your Commercial Property Needs to Be Renovated

Commercial renovation
Commercial renovation

From health and safety concerns to creating a good impression for new clients and customers who are visiting your office or business premises, renovation is a great way of updating the infrastructure and design of your commercial property.

But with renovation crossing over into both constructive and aesthetic details, how do you know when something could do with a visual touch up, and when it needs some more serious attention and upgrading?

In this blog post, we suggest 8 key signs to look out for that may indicate that your commercial property needs to be renovated or refurbished.

1. Health risks

This is one of the biggest concerns for commercial properties, because it isn’t as obvious to the untrained eye but is just as dangerous as slip and trip hazards. Health risks include things such as damp, cracks, electrical faults, and even leaks or plumbing issues which can also pose a risk to the health of tenants and users in the long run.

Combat this while your commercial property is empty (outside of business hours) or, even better, indulge in a full renovation between tenancy agreements.

2. Safety concerns

Some of the main safety concerns are also the most obvious signs that renovation is needed – for example torn carpet edges, uneven tiles, loose floorboards, and loose roof tiles to name just a few common examples. If any of these are of concern to you or your tenant, you can bring in a contractor or injury lawyer to create a plan for required upgrades and renovations.

3. Price hike

If you’re looking for a way to enhance your own business, renovation can simply add to the lettings value of your commercial property and give you a good excuse to hike the monthly rental cost for clients. So, if the time has come for a price review and you want to up the rental cost a little, renovation is a good way to increase the value.

4. Security challenges

More businesses than ever before are seeking enhanced security measures for their commercial properties – with break-ins a strong indicator that your commercial property or site is in need of renovations. From installing cameras and security lights to renovating and upgrading the fencing and external security measures around the property, making sure that you and your tenants feel safe should be of the upmost concern.

5. You’re in between tenants

If your tenants move out and you’re looking to entice a new tenant to use your property, this can be interpreted as a sign that it’s time for a commercial refurbishment or renovation. Consider the kind of business or tenant that you want to attract and make the kind of renovations that will appeal to them – for example, if you want to draw in a sustainable or eco-friendly business, then make changes and upgrades which rely more heavily on sustainable energy sources and natural light. If you want to bring in a corporate tenant, then renovate the property to present a very formal and corporate vibe.

6. You want to change the purpose of the commercial property

Commercial building being renovated

Following on from the last point, if you decide to transform your commercial model altogether – for example separating a single unit into a multitude of office spaces or commercial spaces that can each be rented out individually – then you will need to renovate in line with your new vision.

Yes, this will cost more upfront, but the output should be significantly higher if you ensure that the work is done to a high standard.

7. Your commercial property has become outdated

This can be a difficult one to recognise and manage, but if it seems that your commercial property has become outdated in terms of its layout, its functionality, and its aesthetic design and style, then you might find that it’s time for a renovation and a freshen up. Businesses that are looking to rent commercial properties want spaces which inspire and tie into their business vision – and your job as a commercial landlord is to offer them a rental property which is a blank canvas on which to put all their ideas.

And this doesn’t have to be just aesthetic details and design choices. It is also important that your property is up to date in terms of its heating and air systems, its electricity and energy use, and its connectivity – to name just a few areas of focus.

8. It’s time to sell

Finally, the most obvious sign that a renovation is needed is when it comes time to sell and move on. To maximise your chance of making a profit, putting a little investment into some high quality renovations will elevate the value and help you to sell for the best price possible.