Are you considering buying an off-plan commercial lot to run your business from in the future? What are the benefits of running your business from a new building?
To own a commercial property has long term financial benefits. The primary benefit is that property assets appreciate over time. Also, new buildings have few, if any maintenance costs.
The decision to occupy or lease comes down to making the right long-term investment.
The general lifespan of buildings
A commercial building has a lifespan of approximately 50 years before significant refurbishment.
New commercial buildings have minimal maintenance until around 15 years. You can focus on growing and running your business. Up until that time, a well-constructed building shouldn’t need extensive repairs. Fewer repairs make new buildings attractive to the budget-conscious business owner or investor.
As buildings age between 15 to 30 years then expect ongoing maintenance issues to arise. These are necessary to keep up occupancy standards. When you get past the 30 to 50 year mark, your building is likely to need major structural upgrades. Buying in an old building may be cheap upfront the maintenance issues can cost more in the long run.
Avoid compliance issues
As our work health and safety guidelines change, so do the requirements of our workspaces. New buildings meet current standards for a healthy workplace. That means you can have peace of mind that your commercial space is above board.
Newer buildings are purpose-built
Property developers often perform market research before deciding to undertake new commercial developments. The design of new buildings takes into account the potential business uses. For example, the proposed Woodvale Medical and Professional Centre (WMPC) design caters to medical and health services. The upper level designed for firms providing professional services. There’s a space for retail and cafe/restaurant at ground level.
WMPC’s design fulfils the functional requirements of medical, health and professional services.
Sustainability continues to be a matter of importance. New buildings take advantage of energy-efficient technology that provides reduced consumption and savings.
If your plan involves investment in commercial property, attracting tenants is a priority. Tenants want to manage variable outgoing costs. Energy-efficient buildings provide tenants with the cost savings they seek. Businesses are pledging to go green, so you wouldn’t want to miss the opportunity.
New buildings have the infrastructure to meet the technical requirements of businesses. Older buildings may not have the wiring needed to run businesses technology requirements.
Combining experience with modernity
WMPC is a design and construct development by Australian property developer Norm Carey. Learn more about Norm Carey by visiting past property development projects. For WMPC sales and leasing enquiries, please complete the form on our homepage.