Ask any professional landlord and they’ll tell you that there’s nothing more costly to their business than long term vacancies. The office market in the past ten years has seen many buildings which have suffered long period periods of vacancy. In many cases, these are older or unfashionable buildings, which find it difficult to compete with more modern developments when it comes to attracting tenants.
However, this need not be the case! Whatever the age and style of a building, Aptus can help property owners find innovative solutions to transform and reinvent redundant buildings in order to meet the expectations of modern occupiers in today’s market.
A perfect example is our recent project at 71 Grey Street in Newcastle city centre, where a brand-new reception has helped to transform a vacant building to one which is now 100% let and setting new headline rents for Grey Street.
If you still need convincing why it is worth investing in your vacant office, here are our top five reasons:
1) Occupiers want to be inspired – First impressions count and when an occupier is faced with multiple options for their new office, it is important to make your building stand out. Modern design features such as feature lighting, custom-built furniture, the use of digital technology and eye-catching wall and floor coverings can all effectively and dramatically change a space and leave a lasting impression.
2) Standards are rising so future proof your asset – Today’s occupier expects more from their office space, so Landlords need to offer space that is not only cosmetically attractive but also conforms to all modern standards. By investing in energy efficient infrastructure, landlords can improve EPC ratings and reduce running costs, potentially influencing a tenant’s decision and increasing the value of the property in the process.
3) Help occupiers to attract and retain talent – Occupiers are looking for buildings that make a strong, positive statement and can help elevate their business, not just accommodate it. In many sectors there is an increasing battle to not only recruit good people but also keep hold of them. Offering a fantastic place to work is one of the easier ways to win this war, which means companies want a building that can help maintain a happy, healthy and productive workforce.
4) Common areas can be so much more – Another way for buildings to stand out from the crowd is to offer more in the way of shared amenities. A modern multi-let building should offer more than simply a lift and toilets, so consider installing good quality facilities such as showers, a cycle store, a gym or communal break-out areas with free Wi-Fi.
5) Make life easy for your new tenants – Time restraints for busy companies generally mean they want to walk straight into a building where all the work has been done, allowing them to concentrate on what they do best. By installing a high-quality kitchen, a multipurpose meeting room, ensuring that the M&E infrastructure and all fixtures and fittings conform to the latest standards means you will be one step closer to securing your new tenant’s signature.
To find out more about how Aptus can reposition your office space to attract new occupiers please contact Chris Price on 07971 441 206 or email: firstname.lastname@example.org