Are you keen for our commercial property brokers to assist you in snapping up a workplace you would be able to fruitfully use for investment purposes? If so, one of your first priorities should be deciding exactly where to buy that property.
After all, while a below-par building in a great location can simply be renovated or refurbished to be brought up to the required standard, you could be at a loss as to what to do if you acquire a ‘great’ building but its location turns out to deter potential buyers or tenants. How can you prevent this dilemma?
Keep Your Overall Objectives in Mind
What do you intend to do with the property once you do have it? Perhaps you are eager to rent it out, with potentially multiple tenants occupying it simultaneously. Alternatively, you might want to flip the property, i.e. hold it for only a short time before selling it.
Whatever your main objectives, they will feed into what location you ought to pick for the property. For example, a property in a high-growth area would be a prime candidate for flipping.
Heed the Local Market
Many entrepreneurs will understandably want to base themselves in places where they would be able to regularly source new employees from a large talent pool. For this reason, it can bode well for you to get hold of a commercial property somewhere with, say, a growing population or a highly regarded university.
Conversely, you could struggle to garner a good financial return on a property in a ‘declining’ town or city where the population has started to shrink due to outward migration.
Zoom in on the Neighbourhood
You could even do much of that zooming in with a digital mapping platform like Google Maps — since that way, you would be able to quickly check the local shops, amenities and transport connections.
Being close to shops could make the workplace ideal for a business that often needs to fetch new supplies at short notice. Similarly, an office within easy walking distance of a railway station can appeal to companies seeking workplaces to which employees would be expected to regularly commute.
Reach Out to Us for Our Specialist Assistance
If you are just starting out on your investment journey, we can introduce you to various exciting opportunities for securing deals on commercial properties in New Zealand’s Waikato Region. To get in touch with our commercial property brokers, please ring 07 838 3304.