With the Perth property boom, the demand for commercial spaces in Perth have seen a skyrocket increase.
With that being said, more West Aussies are starting to consider commercial office spaces for their next investment venture. It is still an untapped real estate investment strategy, but when done right, is lucrative.
If you are a Perth investor looking to leverage this hidden opportunity, we recommend doing your due diligence and undertaking research before you make a commitment.
In fact, to begin your research journey we have created a list of considerations to help you secure a good commercial investment property to reduce your risk of long-term vacancy.
#1 Where the commercial premises is located in Perth
There is an age-old adage that is often spoken about in the world of real estate. The saying talks about the 3 important factors that add value to a property or premise: LOCATION, LOCATION….AND LOCATION!
The same philosophy goes for your commercial office space in Perth.
Perth’s central business district (CBD) and the city fringe areas tend to be where most business action happens. That is why these areas are also where you’re likely to find consistently strong demand for commercial office spaces.
#2 The size and scale of the commercial premises
Securing good quality, long-term tenants will help you to maximise your investment return. Larger tenants obviously need more office space, and they tend to plan their workspaces several years in advance. They’ll often be prepared to sign longer leases to secure the space they need. This is why the larger the size, the better the chances are that you will secure a quality, long-term tenant!
#3 Consider the office layout and features
What is the office layout you are working with? When evaluating any commercial office space in Perth, looking at the layout features is essential. For example, does it have private offices, breakout rooms, meeting rooms, open plan communal areas, staff lunchroom, kitchen and showering facilities? How fast and reliable is the Wi-Fi connection? All these features will be important in attracting tenants.
#4 Accessibility
How easy is it to get to this Perth commercial office? Parking should never be a debilitating factor, and it should be near a commercial office space to increase tenant appeal. We recommend it be as convenient as possible for their staff and their clients. Understandably, this is a hard ask in Perth’s CBD, however, at the very least, consider how accessible the premises is to public transport.
#5 Council zoning regulations
Understanding current (and potential future) local council zoning regulations for a commercial office location is essential. Zoning laws also define the type of business that can be carried out on the premises and outlines the parameters of how a space can be used. We recommend that you spend extra time doing research on this.
Are you ready to speak to a team of investment professionals, who can help you get the best commercial office space in Perth? Then talk to our team of Perth property experts today. Explore our for-lease listings here.
