You can’t judge a book by its cover, but many do judge a house by its exterior. If you’re looking to increase the value of your commercial property, you may be considering a variety of maintenance works and renovations. Painting is often over-looked, yet is one of the most cost-effective methods to add value to your property.
Designing the look
You might be considering painting your commercial property for a variety of reasons. You may be redecorating the interior or the exterior of the building, perhaps with the intention of attracting new tenants. You may be redesigning the whole look and feel of the property to accompany a business change, or are simply sprucing up your commercial space to keep existing tenants satisfied. Whatever your motivation, a new coat of paint is one of the easiest and cost effective ways to renovate. If you are thinking of selling, painting could increase the value of your commercial property simply by making it more aesthetically pleasing.
Planning the painting
Most commercial paints produce very minimal levels of fumes, so they’re safe to be used indoors while tenants are present. You may still wish to consider which is the most eco-friendly paint in order to maintain as pleasant an environment as possible for your tenants. It’s also worth thinking about whether you have the building painted within work hours or in the evenings, bearing in mind that this may be more costly.
For external paintwork, ensure you use a tough and long-lasting paint that can withstand your local weather conditions. If you have a coastal commercial property, it may weather more quickly in the salt air. If you’re repainting in a particularly rainy or humid climate, your paint will need to help protect your building from damp and leaks.
Choosing a colour scheme
You may wish to have some input into the colour scheme of your property, or you may prefer to hand creative control over to the contractors. If you know exactly what business is moving in, your choice may be limited to their preferred colours. However, if you’re painting your commercial property to make it seem more enticing, you’ll need to consider who you want to attract. It might be your preference to tie the colours in with the architecture of your building, or the property's location. For example, if it’s a coastal property, classic blues, greens and sandy hues can compliment the setting. If the property is of a modern design, contemporary greys and chic off-whites are a good choice.
Hiring a contractor
You may opt for a trusted contractor or even a full 'designer colour change’, which involves hiring an interior designer to assess the property and recommend a specific colour to suit the space. While this is more costly than a simple re-paint, this can be reflected in your property’s value and has been shown to help significantly when looking to renew a tenancy.
After an initial consultation with you or your property manager, a contractor should conduct a detailed site inspection prior to commencing painting. This will enable them to cost the project effectively to avoid any surprises, and you may wish to compare several contractors’ quotes at this stage.
When painting commercial property, if your tenants are in situ, you will need a contractor who considers them at all times and treats their home environment with respect. This saves you having to mediate any issues and should enable you to let the painting continue without needing your input.
If you’re considering selling your property, talk to one of our expert commercial agents to discuss the best methods for increasing your commercial property value prior to sale. Take a look at our commercial properties in premium locations if now is the prime time for you to invest.