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Valuing Commercial Real Estate

The Growing Power of Real Estate Video and Virtual Reality

The Growing Power of Real Estate Video and Virtual Reality

In the past few years real estate video and virtual reality have become increasingly used to promote residential property for sale in Australia, and particularly for premium properties. So what do real estate video and virtual reality involve, and what are their benefits?

 

What is real estate video?

It’s hard to grasp the full space and flow of a property through pictures alone, which is why so many real estate marketers are choosing to use video. These videos can range from a slideshow of images set to a song, to full productions complete with drone footage and professional voice overs covering the property’s features. Interactive videos are another option that allow the viewer to choose which rooms they’d like to view next. What many properties vendors are finding is that video works. In one statistic by domain.com.au, real estate listings that included a video received 403% more enquiries than those without.

 

How is virtual reality used in real estate?

Virtual reality, or a 3D tour, enables the prospective buyer to “walk” through the property – in some cases, even before it’s been built. A viewer can typically click their way through the building on their screen to get a comprehensive feel for the space, architecture and décor. This can either be produced with onsite photography, such as this sample listing on Matterport, or through computer modelling for properties that have not been constructed. Virtual reality can be an invaluable option for property developers aiming to drum up interest, investment and sales in their new projects, even opening up new interstate and foreign investment opportunities due to the easily accessible online experience. In some cases, 3D headsets are making that an even more immersive interaction.

 

Creating a sense of lifestyle

While it comes to selling residential property you’re selling much more than just bricks and mortar – you’re selling a lifestyle. The production values, music and voice over of a real estate video or VR model sends signals to the viewer about what they can expect when they purchase that property. That’s why some of Australia’s leading land estates are looking to 3D tours of their display villages and model homes to sell residential property plans, particularly to younger demographics. It certainly does create an added sense of aspiration to “wander” along the rooftop of a new inner-city apartment or to “peek” into a spacious walk-in robe, rather than rely on standard images.

 

For professional assistance selling your residential property investment, contact Burgess Rawson today. Our team specialises in executive and boutique developments for commercial portfolios.

Keywords: Residential Property Sale, Sell Residential Property , Selling Residential Property

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Tips for Making Your Perth Investment Property More Energy Efficient

Tips for Making Your Perth Investment Property More Energy Efficient

Improving the energy efficiency of your commercial property investment is simply good business. Not only are businesses of all size feeling more pressure from employees and stakeholders to improve their sustainability practices, but the Australian Government has also been encouraging private business to seek out Green Leases for some years. As of 1 July 2017, the mandatory threshold for the Commercial Building Disclosure (CBD) Program will also be reduced from 2,000 square metres to 1,000 square metres. It can therefore make a lot of sense to improve your building’s green credentials. Whether you’re making updates to your older Perth investment property or are seeking out the premium returns and satisfied tenants associated with green leases, read on for the most effective improvements.

 

  • Measure and manage

One of the simplest and most effective ways to monitor the energy efficiency of your commercial property investment is to install an electricity monitoring system. Not only will this help you to track changes and make improvements throughout the building, but tenants can also use it to monitor their own costs and minimise their wastage.

  • Improve insulation 

In Perth’s Mediterranean climate, proper insulation and double glazing can make a significant difference to the heating and cooling requirements of a building. If your air conditioning system is 10 years old or older, consider upgrading your system so commercial tenants can cut costs and emissions.

  • Switch lighting over

Although perhaps not immediate in its returns to a landlord, swapping out older lighting to energy efficient fluorescent and LED options can cut lighting electricity use by 75% and help to improve your NABERS rating to further appeal to tenants.

  • Check your HVAC system

Heating and cooling systems can count towards a large part of a building’s emissions. The Australian Government offers a guide to best practice maintenance and operation, which is an excellent starting place for information on maximising the efficiency of your HVAC system.

  • Improve your BMS

Small changes in a Perth building’s management system can see profound improvements in energy efficiency. The Department of the Environment and Energy has released a building management systems guide to refine systems to fit within the Green Lease schedule.

  • Inform yourself before any major works

Western Australia has an Alteration & Additions Protocol for Energy Efficiency for certain buildings. If applicable, you’ll need to adhere to this protocol when undertaking major works.

 

If you have questions, the Perth commercial property management team at Burgess Rawson is experienced in handling the full range of sustainability requirements and improvements for commercial investment properties.

Keywords: • Commercial Property Investment, • Commercial Property Management , • Perth Building Management , Perth Property Investment

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What is a Sale and Leaseback?

What is a Sale and Leaseback?

If you’ve heard the term ‘sale and leaseback’ in our investment property auction listings, you may be wondering exactly what it means. Here, we take a look at what this attractive transaction model involves.

 

What is a sale and leaseback?

A sale and leaseback describes an arrangement where an owner-occupier of a commercial property sells that property and stays on as a tenant. The leaseback arrangement can be arranged for any length of lease that suits both parties, with annual reviews to keep rent in line with market conditions.

 

When might a sale and leaseback arrangement occur?

A sale and leaseback may occur when a franchise owner who owns the property and business may be on-selling the business but looking to gain a profit from the sale of the property. In this case, the new business owner may look to continue with a lease at the same site. Often, it’s simply a case of a financing option for the lessee when investment yield and interest rates make it more viable to lease rather than own.

 

What are the benefits?

One of the main benefits when you buy commercial property with a sale and leaseback arrangement is that you immediately have a tenant providing a rental return on your new property investment. That means no stress about filling a vacant property and no need for incentives as might otherwise be negotiated for new tenants. You know what you’re getting into for the immediate future prior to settlement.

 

Another benefit of a sale and leaseback is the indication that the business still finds it a profitable area to do business.  

 

How do I go about finding the right property with a sale and leaseback?

A great deal on a sale and leaseback will be one where the purchase price reflects that of a vacant property. The Burgess Rawson team in your area can help you to identify and negotiate the terms you’re searching for to ensure the conditions are reasonable and fair.

 

It’s important to look for the following in a sale and leaseback situation before you make your move at commercial real estate auctions:

  • Minimum lease terms that provide stability and a suitable return
  • Rental increases in line with market prices
  • A bank guarantee, typically of three to six months, to help protect your return.

 

It’s also important to perform due diligence in ascertaining if the business is successful and thriving, and adjust the terms if there is an element of risk that may be involved.

 

With the right conditions, a sale and leaseback can be an arrangement that is profitable and hassle-free for both parties. Contact the team at Burgess Rawson today for assistance in securing the ideal commercial property for auction or through private sale to complement your portfolio.

Keywords: Buy Commercial Property , Commercial Property For Auction, Commercial Real Estate Auctions , Investment Property Auction

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Looking for Blue Chip Locations for Property Investment

Looking for Blue Chip Locations for Property Investment

What kind of investor are you? Are you the type that looks for a dependable and long-term return, or one that is willing to take a wager on a good opportunity? If you’re the former, then real estate investment in blue chip properties is likely to be a good choice for you. Although these locations have a higher entry point, they’re also reassuringly stable over the long-term. Here’s what to look out for.

 

Location, location, location

Blue chip locations for real estate investments have always generally been within 10 or 15km of the CBD and belong to higher socioeconomic areas. The idea is that the area is already established with plenty of business, population and infrastructure as these will beget more of the same. One strategy for reliable returns is to look for in-demand areas where there is only a limited supply of properties or land available to be developed. As population and infrastructure grow around the location, so do demand and any subsequent rental returns.

 

Job and employment growth

One thing that sets a blue chip investment property apart is the fact that it’s more likely to weather any downturns. Look for areas with substantial and diverse job opportunities, or close proximity to these, as opposed to areas that could suffer with the closure of any one business or industry.

 

Population growth

For once, it’s a good thing to follow the crowd when it comes to blue chip suburbs. Seek out areas of high population growth and for the ‘exclusive’ suburbs that people aspire to live in. Chances are, the appeal of these spots won’t diminish any time soon.

 

There’s also some evidence that as capital cities continue to rise in living costs there will be more movement out to major regional hubs such as areas in northern and southern NSW. Residential and commercial property investment in the more central of these locations could also be a wise move.

 

Infrastructure

If you’re looking for as close to a sure thing as you can get in property investment property, then search for a mix of infrastructure. People will always want to live and work close to public transport option, good roads and dining and entertainment options. Areas around airports, hospitals and universities are also hotspots for growth.

 

If you have the equity to invest in blue chips locations, the money is on these areas to reliably outperform others over the next five and ten years. View our current portfolio auction listings and contact our property consultants to find your next blue chip property.

Keywords: Commercial Property Investments, Investment property, Property Consultants, Real Estate Investment

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