How architecture increases commercial property value guide, Australian real estate investment, Residential property
How Great Architecture Can Increase Commercial Property Value
16 June 2022
The value of a commercial property is a measurement that can be used to estimate its relative worth. Moreover, the property’s earning potential can also play a role. Property value depends on many things, such as the overall market value, design aesthetics, and the architectural style of the property.
Great architecture can increase commercial property values by as much as 25%. Improving the appearance of a property and making it stand out from the rest is critical to attracting buyers and renters alike. These include commercial property investors and those looking to lease or purchase commercial real estate.
Also, when you visit faceyproperty.com.au, you’ll realize that property managers emphasize design when investing in properties. Meanwhile, here are some of the ways great architecture can increase commercial property value.
Emphasis On Details
A detailed property design will make a difference in the day-to-day life of those utilizing the space. This has become a requirement in office spaces, particularly in modern cities. Beauty is a subjective quality that can be difficult to recognize. But with details, it would be easy for one to tell whether the property is aesthetically appealing.
On the other hand, many poorly designed commercial buildings are blighted by the fact that they fail to engage the public imagination. Emphasis on details can make even the worst building appear more attractive than it is.
Hence, the most powerful of these detailed design strategies are the use of well-placed lighting at night, use of vertical line, natural materials like stone and wood and integration with nature through landscaping, and avoidance of banality in the exterior details and décor.
Natural materials and lighting are used to make the design more attractive. Additionally, landscaping and vertical lines can also make the design stand out.
Provides User-Centred Designs
Good architecture isn’t just about the aesthetics of a building. It’s also about its functionality and how it can be used to improve the lives of people who work there. The design should also meet the needs of the users.
Meanwhile, when you walk into a building, you’re immediately drawn in by its design and feel. A facility that has been well designed will make you feel comfortable, relaxed, and ready to spend money.
This is why large corporations spend millions of dollars on their office spaces—they want to create an environment where employees can work comfortably and efficiently. This same concept applies to commercial real estate as well!
If your property is well designed, then it’ll attract tenants who are looking for a space that has been thoughtfully designed and constructed to suit their needs.
Use Of Energy Efficient Design Strategies
Good architecture will help keep utility expenses down by reducing heating and cooling costs throughout the year because of its design features like natural lighting, effective insulation, and natural ventilation.
Strategic ventilation systems allow air to flow freely through buildings without stale air pockets forming in enclosed areas. Therefore, the building won’t need additional air conditioning to remove excess heat from its interiors during warm weather. At the same time, it can also provide adequate heating during cold months.
Meanwhile, designers can also make use of passive cooling strategies such as the use of open and vegetated courtyards. This reduces energy usage and costs spent on energy bills. As a result, the value of a property designed with such strategies is higher than that of a property that uses artificial lighting, heating, and cooling systems.
Use of Iconic Designs
Good architecture can create a unique and beautiful building that will attract customers. Hiring a well-known architect can be a very effective way to promote your commercial property. Furthermore, using an iconic designer gives you instant recognition and credibility in the market, making your property more desirable to potential tenants and investors.
For example, if you’re developing a shopping mall, it makes sense to use an architect that has already designed one of the biggest malls in the world. That way, you can position yourself as a ‘world-class’ developer and attract international retailers who want to be associated with this reputation.
Creation Of A Sense Of Place
Great architecture creates a sense of place. It creates an experience, not just an image. Plus, it connects us to our surroundings and gives us an experience we can share with others.
On the other hand, the best architects can create spaces that are timeless and relevant. They can capture the essence of a place, whether it be an urban centre or a rural landscape, and translate that into beautiful and functional architecture.
In addition, great architects don’t just design buildings; they design experiences. People who associate the property with great experiences will be willing to pay more to use or purchase the property.
How architecture increases commercial property value conclusion
Good architecture enhances user comfort. A positive environment can help boost productivity, reduce stress and give employees more energy to do their best work.
Great architecture is a powerful statement that attracts new customers while keeping existing ones happy. As a result, attractive buildings tend to command higher rents than those without them. This factor increases the commercial property value in the long run.
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