Redesigning can be a major business opportunity. We’re going to show you how it works and how to recognise great opportunities for a building redesign.
- Does your building have old, “dead” spaces that aren’t used much? Redesigning can free up these spaces and add functional value to your business. It might also provide much-needed extra space for areas that have become cramped and impractical.
- Do you need to consolidate spaces? You can combine spaces together without excessive costs and you can even incorporate a new layout.
- Do you want to upgrade your interior? This is potentially a very valuable option. Upgrading can add value and appeal for new tenants. As mentioned above, this is also a great opportunity to improve the way you use your space.
Here are some ways your redesign can be cost-positive:
- Value adding upgrades, like new spaces, add value to any business premises. New spaces can be leased or even sub-leased.
- New spaces can deliver new revenue. Redesigning a larger space into smaller spaces can also work. For example, achieve 3x the original net revenue by creating two new spaces.
- Redesigning and design upgrades add overall value to the building as a whole.
- Redesigns can save you more expensive upgrades later and avoid ongoing maintenance costs for older buildings.
- A redesign doesn’t have to be particularly expensive. You can even budget progressive upgrades to control outlay.