When looking for a commercial investment property it is important to assess where the property is in its current lifecycle, and see beyond its current physical state to understand what needs to be done to attract a tenant.
Altegra Property Group act as your commercial property investment partners through all stages of the process. We form relationships with owners and tenants allowing us to devise a strategy to maximise the property's potential at every juncture, not just help you find or lease a property then abandon you.
There are four phases to a commercial property's lifecycle:
A commercial property investor will normally enter the lifecycle at the acquisition phase. After careful consideration and scrutiny of all the available options, an investor will look to purchase the property which is right for them. Altegra make this part of the process exciting and easy by working with commercial property investors to create an investment strategy, identify the right type of properties and where to find them, then shortlist suitable properties
2.Evaluation and Improvement
Congratulations, you've purchased commercial property! It is unlikely the property is perfect and market-ready, but that is exactly why it was a good deal. At this stage of the cycle the owner must consider what type of tenant they want, benchmark their property against others in the market, and make improvements to draw in tenants.
These could be upgrades to the fixtures and amenities — refurbishing the building facade, replacing flooring, painting and repairing walls, opening up natural light, installing faster internet and data connectivity. Or it could mean transforming an old retail outlet to become a café space by installing a grease trap and exhaust. These improvements should attract a long-term tenant by getting the property ready for the next trend in business.
3.Leasing and Stabilisation
Now that the property is ready to be occupied, the search for a tenant begins. Altegra are the experts in managing these relationships; we work with owners and tenants to establish long-term partnerships, and we don't squeeze a tenant in to the wrong property where they may not succeed. To us, a successful tenant is one who is comfortable in their premises and a happy owner is one who has an open dialogue with the tenant. If all goes well, this phase of the cycle will last many years.
The final stage of the commercial investment lifecycle is selling the property on to the next owner. This completes the investment cycle and marks the conclusion of a successful investment. There can be many reasons to sell commercial property; retirement, freeing up cash to purchase another property or invest in other interests, termination of a long-term contract with a tenant. Whatever the case, Altegra will navigate you through the process in order to maximise the return on your investment.
Contact Perth's commercial property investment specialists Altegra Property Group to learn more about the property lifecycle, and to understand how our expertise can help you maximise your investment.