Warehouse conversions for office space are all the trend in London, Kent, Surrey and Sussex and for five good reasons:
- Space
- Out of town parking
- Access to main roads in opportune locations
- Lease potential
- ROI can be higher in commercial property than residential
More Space and More Flexibility
JBH Refurbishments has converted many a warehouse to office space, but the trend for this type of refurbishment project is gaining momentum across our service area of South East England, and the abundance of space that warehouses offer is one of key reasons.
Warehouses and industrial units- new and old – are basic buildings with an expanse of open plan space, which offers great potential to a property developer. The internal area can be divided into offices for multiple businesses or one single company.
The basic shell of a warehouse offers the opportunity for a developer or landlord to create a fully serviced office space, with the opulant finishes that expected within a modern office building.
Out of Town and Onsite Parking
Town centres are overcrowded and traffic congestion is a burden that continues to worsten, especially in built up areas. Therefore an office with out of town parking, or onsite parking is a huge draw for any business looking for new office space.
Warehouse conversions are more than likely to come with external grounds for parking, making them a great choice for businesses.
Access and Opportune Locations
Many warehouses are located on industrial parks, or near to arterial road routes. Therefore access for employees, deliveries and customers is much better than having an office within the town centre.
Access and locations is one of the most important considerations when moving offices. Thoughout London, Kent, Surrey and Sussex, there are an abundance of warehouses and industrial units with conversion potential.
Those in the know, will tell any first-time investor that ensuring the property you choose to convert has or is likely to achieve the appropriate change of use planning permission is essential. Check out the Change of Use Portal for more information.
Lease Potential
Developers and landlords alike have one of two objectives when undertaking a warehouse conversion for office space – to lease or to sell. Either way, the space needs to attract the right clientele.
Our Top Tip for Optimising Warehouse Conversions for Marketable Office Space
Our top tip for a developer or landlord that wants to create a marketable office space is to consider what it is businesses within the local vicinity need/want from an office space. High on the agenda for most businesses looking for new office space are:
- Eco-credentials of water and energy usage
- Smart technology
- Quality HVAC
- Internet speed and connection
- Communal facilities – kitchen, washrooms and meeting areas
To increase the appeal of your warehouse conversion, we recommend including the following amenities:
- Shared or central meeting room with video conferencing technology
- Pods, booths and office furniture
- Main kitchen with seating, plus tea points on each floor
- Washrooms on each floor (unisex is preferable)
- Disables access washroom and lift
- Sustainable heating and cooling HVAC system
- Smart building technology to reduce energy in areas that are not in use
- Fibre optic internet connection
- Rain harvest tank to supply waste water to the building and reduce water usage
ROI on Commercial Property v Residential
This is a very broad reason for the trend in warehouse conversions throughout the South East. However, it can be assumed that developers and landlords are opting to invest in commercial over residential due to a high ROI.
Commercial property in the South East comes with a lower price tag than commercial, yet once refurbished, the the monthly yield of a commercial lease can be more lucrative than a residential rental property.
It’s important to do your homework before investment, as the ROI will depend vastly on the area, property type, and your conversion plans.
Creating an Office to Let in Your Own Commercial Property
Warehouse conversions are not just for property developers and landlords. Business owners too are also cashing in on their under utilised space.
Take an industrial unit for an example, the ceiling height alone offers potential for a mezzanine floor, where you can locate an office space to let.
Many JBH clients have been known to develop an office above their industrial unit’s main floor space or storage area to offer a fellow businesses an affordable workspace. At the same time generating an extra income for themselves.
For more information on warehouse conversions and interior fit outs services in Kent, London, Surrey and Sussex, please contact the team at JBH Refurbishments on 0333 207 0339 or via our contact page.
