A retail property is basically a commercial asset that is used for the business of selling goods and/or services. Such can be a detached asset by itself or may be attached to similar other structures. Typical examples to this would have to be the store spaces of clothing and shoe boutiques you see at your favorite malls. The same holds true for restaurant and cafes, computer and electronics stores. To put things more clearly, think of the spaces where famous names like Debenhams, Ikea, Zara, Topshop and H&M are occupying. So if you are also a business owner and entrepreneur, buying a retail property for sale will most likely be on your to do list and necessities. On that note, you might want to check out the following items on our checklist during your acquisition phase.
LOCATION – Just like any other fixed asset, location is of utmost importance and all the more if we are talking about business. It has to be situated in an area that is easily accessible by your target market otherwise you might find a drop in sales. At the same time it also has to be in close proximity to most employees as well as suppliers.
USEFUL LIFE – You want to benefit from it as long as you can so checking on its useful life will be a necessity. Would you waste your funds on something that will only be of service for five years when you need it for twenty years? No.
PRICE TAG – It has to match your budget because you can’t afford to forget about the costing of things. Additionally it has to be equivalent and in conformity with the asset’s actual current market value.
FEATURES – Some businesses may want certain features in their properties such as a wide store front made of glass, a high ceiling, a second storey, etcetera. This will of course depend on your needs and the type of company you have.
PARKING SPACE – You want the space to be accessible and at the same time convenient. As much as close proximity to commute transportation will be beneficial, so is the presence of a designated parking space.
SECURITY – Lastly, when buying a retail property for sale, you have to ensure that it is situated in an area that is secure. This means that the crime rate is low, appropriate security teams are available and natural calamities are less likely to threaten your operations such as fire and floods.