the penrose condo performance and achieving success is something that is highly geared to location and the bodily issues relating to the site. Retail property is usually positioned and also developed only to suit and serve its target market and yet presentation and image are a large part of the equation. Very poor retail property presentation breeds poor property performance, it will be that simple. The customer likes to feel good when they shop they usually want to enter and leave the property with minimum irritation. When you have a happy customer, it directly reflects into the levels of rent and the numbers and types of tenants that the property has. This gives the landlord a level in security in the asset, knowing that everything is working in the way in which. A successful retail property is a combination of many key matters such as: Location, location, location Lease terms and conditions Tenant combin and offering Vacancy minimisation Refurbishment strategies Customer feel Property maintenance Customer visitation Customer spend Consider this. The landlord wants a retail property to give sound plus stable rents for the duration of the leases. Rent and occupancy volatility must be minimised. The tenants in that retail home also want the property to attract and maintain customer fascination for the long term. All of these factors come together in an equation regarding unique balance. Let's focus here on the location things for a good retail property. The old adage 'position, position, position', still rings true. So exactly what place and location criteria can the property investor set or possibly target for their ideal retail property? This list will help. Are the road and highway access points to the residence good or hindered? Are there any traffic lights that primary people to and from the property safely? Are the gardens as well as landscaping around the property well cared for and designed? Will be any tenant's business signboards and bulkheads well operated so that they do not give the property at 'trashy' image? Really does the local public transport system access the property effectively and definitely will the customers feel that the drop points for the transport will be safe and effective? Review the car park. Is it well designed and surely signed to that customers can safely and easily accessibility the main property building and tenancy areas? Are there vigorous barriers such as a creeks or rivers that isolate and / or restrict the customers to the property? Are there any bridges to the real estate that 'funnel' the traffic and could they create visitors jams at peak times? Is the exposure of the building to the passing traffic prominent and positive? Can the home and property signage be easily seen and can it be improved upon? Is there a major pylon sign on the property that 'brands' the house and property correctly? What is the lighting around the property perimeter going through, and can it be improved in any way? Visit the property after sunset to see what image the property gives from any lit signs and features. What is the identity or label of the property and can it be clearly seen out of your road. Is it modern and adequate? Does the term need to change? Ask the local community about what they find the property name. Does the parking around the property guidance all the Customers and Tenants well? Is the car park substantial enough for the peaks of trade during the average few days? Does it need re-design or functional changes? Does the car park need better lighting? What customer services are available within your property? Are they adequate and modern? (Parking, Toilets, Malls, Seating etc . ) Is the internal place layout 'Customer' friendly? Can Customers easily understand whereby they are and can they shop in comfort? What do you do or perhaps offer to extend the customer visitation time to your property? Is the renter signage conforming to good design (or Centre standard) rules? Is it well maintained? Are 'sight lines' clear and un-cluttered to the retailers shops? Are the shop frontages and displays clean and welcoming to the customer? Check out the shops in clusters and zones to see if the locations work well and offer the customer ease of entry and passage. All these location factors affect every retail property. Use them into your inspection strategy on any retail property analysis just for leasing and tenant potential. Also use them as part of your specific location assessment for the future opportunity of the property.
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