Commercial property is used for business activities. The commercial property falls into a variety of categories and includes industrial properties, shopping centres, offices or even vacant land. Let’s take a look at the commercial property to rent in South Africa and the factors you should consider before renting.
Firstly, you need to understand the risks involved when buying commercial property. There are a few factors to be taken into consideration when investing either your or your companies money into a commercial property in South Africa.
Business owners who buy commercial property regularly know this place is a key determinant of whether or not the purchase will ultimately turn out to be successful. It is evident that you should locate as close as possible to your suppliers, clients, employees and vendors to minimise transport costs and maximise exposure to customers. If you plan on renting to business, make sure the commercial property is either attractive to potential renters or can be economically improved to be attractive.
You should take the time to assess carefully how much repair the property requires before it can be used or rented out, how much repairs it needs and how long it will take if it does need repairs.
You need to make sure that any commercial property you are considering buying offers easy access to customers and sufficient parking to accommodate them, as well as enough parking spaces for staff that might be employed on site.
Zoning and Improvement Limitations:
Not all commercial properties are zoned for the same uses or can be permitted for certain improvements. You will want to check with the local planning department to find out what the zoning of the commercial property you are interested in purchasing is and what it permits. For example, some commercial properties are located in industrial use zones, with others might be zoned for commercial office space or retailing purposes. Still, other properties may be located in a historic preservation area and hence substantial changes to their facade would not be permitted.