Do you own a number of commercial properties and you’re looking to diversify your holdings further and invest in the next property? Maybe you aren’t adding to your portfolio, rather this is the first commercial development that you plan on tackling. The way you approach commercial property investment can be risky business, and all-consuming. It’s not just a financial undertaking; there are plenty of other factors and issues that you will be dealing with throughout the project.
The good news is that there are ways to make investing in a commercial development project smoother, less risky and just more straight-forward overall. This is where a building consultant can help. So what exactly is a building consultant and what can they do for you? Let’s take a closer look.
What is a Building Consultant?
A building consultant is someone who performs a wide variety of tasks all designed to help you, the client, make a wise investment. While you may walk into a property and know you want to buy it, or a vacant parcel of land, there is a lot more to consider. This is where the services of a business consultant come into play.
Some of the areas they can help with including gathering surveys (acquisition surveys), project management, the design of the building, identify areas of risk to you the investor and then limit them, analyse the technical performance of the building, find a way to lower costs, and more.
Professionals such as Gerald Eve Chartered Surveyor are able to come in and offer construction management and consultancy services at any and all stages of the building lifecycle. Obviously, the earlier you bring them in, the more beneficial for you since they can start finding ways to make positive changes right away.
Why Not Go About the Project on Your Own?
While it may seem perfectly sensible to purchase land to build a home on and then work with the contractor from the ground up when you’re talking about a commercial property the investment and risks are much higher. There’s also the fact that the scope of the work is that much bigger, with more wheels turning at once and more factors that you need to consider.
Chances are that this one commercial property development isn’t the only thing you’ve got going on, which means you likely don’t have the time to dedicate to it fully. A building consultancy is able to step in, keeping you abreast of all the details, and informing you of all the potential risks and decisions you need to make.
The idea behind these consultancies is that you aren’t just going to have a commercial property that works for “right now” rather you are creating long-term sustainable performance – which should be the ultimate goal.
It Could Be the Smartest Business Move to Make
At the end of the day, employing a building consultant could just be the smartest move you make when it comes to your next commercial development project.
