So you’re looking for the right office space to kickstart your business? Or are you just adding a commercial property to your investment portfolio? Any ways, commercial property is one of the best wealth creators for the one who owns it. It provides substantially more income as opposed to residential properties and if you’re looking to buy one then here’s a checklist that you must have by your side.
1 – Location. Location. Location!
That’s the mantra of real estate, isn’t it? The right location will most probably give you the best returns on your property. Most companies will prefer to have an office space in a renowned location as it adds to their appeal and overall image. And for an excellent location, you have the right to charge a premium as well.
2 – Business Amenities
The amenities of a property are essential to facilitate smooth business functioning. Right from ample parking space too, fast and spacious lifts, inviting & contemporary architecture, multiple security checkpoints and many such amenities ensure a smooth business functioning.
3 – The Right Price
Every property has a right price. For commercial property, the up-front cost is usually 20-40 of the overall cost and the rest can be paid with a mortgage. Do account for the above factors of Location and amenities when it comes to checking the price. It is okay to pay a premium for a fully-equipped property in a good location.
Also, remember your lease structure. Most lease structures are 10 to 15 (in factors of 2, 3 or 5) year leases with rental escalations every 3 to 5 years.
4 – Interiors
The building may be glimmering and shining, but it’s the interiors that have a more positive effect on the overall business functioning. If the interiors are elegant, air-conditioning is available, and if there’s a grand reception desk and lobby, the property will provide something extra to the ones who use it.
5 – Proper Clearances
Last but not the least, you want a property with all is clearances in place and no litigation to bother you. This can be done by asking for the right documents from the developer also having your lawyer have a look at it. This is where you must dig-in and conduct an extensive report of the property.
So there you go! That’s a bare-minimum checklist for your commercial property. If you’re looking for a commercial offices for sale in Shivaji nagar Pune, then VB Capitol is the commercial behemoth in Pune! It is a commercial spaces located in Bhosalenagar, Pune, just 5 min from JW Marriott.
To know more, visit www.vbventures.in