Tips on selling industrial property
Category Newpoint Property
Selling your property is a big deal, and it can feel overwhelming because there's a lot to think about, and each thing you do can affect how much money you get from the sale. Whether you've done this before or it's your first time selling, this article aims to help you.
To get the most value from your industrial property and smoothly navigate the selling journey, consider the following ways:
1. Make a good impression with staging
When you're getting your industrial property ready to sell, think of it like making a great first impression. Remove any extra stuff or mess by cleaning up both inside and outside. A new paint job can freshen things up if the outside needs it. Inside, make it feel open and welcoming. You can use temporary walls to create different areas, making your property more flexible and attractive.
Try to identify and emphasise the key features of your industrial property. It includes specialised work areas, loading docks, high ceilings, and unique facilities. Also, make sure that it's well-lit and easily accessible.
2. Address maintenance issues
Before you sell your property, check it thoroughly and fix any issues. Look at the structure, electrical systems, plumbing, and heating/cooling. It's crucial to address problems promptly to avoid delays in selling. Having a report from a professional inspector ready can reassure potential buyers about your property's condition.
If the exterior looks worn, consider a fresh coat of paint. It's a great way to improve your property's overall appeal instantly. Think about a polished look, like painting the wall for a fresh appearance.
3. Comply with environmental regulations
Make sure the industrial property follows environmental rules and has the proper certifications. Showing that you care about sustainability can attract buyers who value eco-friendly practices. Following these standards keeps you on the right side of the law and makes your property more appealing to environmentally conscious buyers. It's a win-win that can help your property stand out and sell more smoothly.
4. You need the right paperwork to sell your property
You can organise paperwork like property deeds, tax records, and permits for any changes to sell your property smoothly. The paperwork provides a clear history, including past inspections and repairs, instilling confidence in potential buyers. It's important to comply with legal requirements, such as obtaining an Electrical Clearance Certificate to confirm the electrical system's safety before property registration.
5. Determine the value
You can determine the property's value through an estate agent or a registered valuer. Estate agents can give an estimate based on recent sales, but they can't provide formal valuations.
While agents may specialise in an area, they aren't valuation experts. Registered valuers provide neutral and fact-based documents.
6. Setting the right price
Setting the right price for your property is essential, and it starts with understanding the market. Take the time to analyse the market thoroughly, considering factors like where your property is located, the current demand in the area, and what similar industrial properties are selling for. Look at recent sale prices for factories and warehouses and pay attention to what buyers want.
These suggestions can assist you in preparing your property for potential buyers. If you plan to sell your property, consider listing it with us at Newpoint Property or contact our property practitioners today for more information.
Author: Newpoint Property