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Building Refurbishment

The Adelaide CBD is changing. As new commercial office space comes into the market the requirements and expectations of tenants are changing. This presents both a challenge and an opportunity to the owners of lower grade CBD property.

The challenge is for owners to maintain the competitiveness of the building, to avoid falling rental values and rising vacancy rates. This publication encourages owners to invest in improving, refurbishing, and repositioning their property as a way to secure future income streams.

This guide discusses a number of considerations in devising viable plans for the future of a commercial property including dealing with heritage features, incorporating ‘green building’ features and the option of a change of use.

» Download Office Refurbishment Guide (PDF, 1Mb)

There have been concerns in the property industry that the increase in supply of office space is outstripping the growth in demand. This may well marginalise older and lower grade properties which do not offer the quality available in new buildings. Many tenants are coming to expect an improved standard of accommodation, better services and energy efficient features. Successful commercial property will meet these demands and be rewarded for it. The case studies within the guide demonstrate how sensible investment can change the tenant profile, enhance capital value and offer returns in reasonable time frames.

If any the following statements apply to you, we would like to talk about the options available to you;

● I own commercial property which could be described as lower grade (C or D).
● I have experienced rising vacancies recently.
● My rental values are not rising as much as I would like.
● My property has not been significantly improved for many years.
● I am unsure of what returns to expect from any investment I make.
● I am worried that new legislation might affect my building in the future.

City of Adelaide seeks a vibrant and prosperous city and the built the environment plays a key role in this. This publication is designed to generate discussion and ideas for the future of your property. In a changing market where supply is increasing quickly, good tenants are priceless.

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