It’s no secret that the property market is once more gaining traction. The effects of last decade’s global economic downturn are becoming a distant memory. And more people are spending money buying houses and apartments. Landlords of those properties are enjoying the benefits of a growing market.
The commercial property market is also seeing plenty of success too. In fact, 2015 was a bumper year for office block owners! More people decided to start businesses, and established ones upgraded to bigger offices. So, how did office block owners make so much profit last year? And why do they stand to do the same again this year?
The location makes a big difference
There used to be a time where businesses only wanted to have offices in the city. These days, savvier companies are moving to suburban and even rural areas! That’s because office leasing costs are cheaper, and the environment around them is picturesque.
Commercial property owners have cottoned onto that fact and bought many suitable premises. There is a definite trend where even larger established firms are moving to the country!
It’s easier to get a parking space in suburban office blocks
One of the main bugbears of working in the city is the lack of parking spaces. Sure, you could park your car in a designated space. You might even use custom parking permit hang tags on your mirror. But, there will always be someone that takes your space without permission!
The good news is parking outside of the city is easier. As there is more available land around office blocks, there will never be a shortage of spaces. That’s a key selling point to prospective tenants, believe it or not. They want to know that they can expand their business on the same site and have the room to do so.
They made renting an office to sole traders attractive
As is often the case, many sole traders want to have office space but can’t afford to lease it. They usually want a place where they can work in peace, away from any disruptions at home.
Enterprising office block holders have fostered unique environments for sole traders. For example, people can rent desk space rather than a physical office. Others provide office space on a timeshare basis – perfect for part-time office dwellers.
If anything, the global economic downturn has made office block owners evolve their offerings. They are adapting to a changing market.
Tenants can adapt the layout of floors to their advantage
There was once a time where office block owners wouldn’t allow any physical changes. Nowadays, they welcome any layout adaptations! Property owners are making commercial buildings more modular.
That means it’s possible (and easy) for tenants to build offices and cubicles to their needs. The days of uniform office space layouts are long gone; it would seem!
Office block owners offer other services
Leasing offices to companies isn’t just the only thing enterprising owners are doing! They also provide a raft of services, such as virtual mailbox addresses and meeting room hire.