How To Let Vacant Space?

Typically, to let a vacant space you need a marketing strategy, a target audience and a couple of incentives to make your space competent in the market.

Letting that vacant unit

Incentives such as break clauses and rent-free periods are usually easily implemented into an offering to the open market. Proposing a couple of months rent-free can secure you a tenant a couple of months faster which effectively saves you money.

However, where many landlords come short is in creating and launching an effective marketing strategy for the right target audience and getting the vacant opportunity seen by thousands of people who are actively searching for your type of stock.

Beside asking friends and family, many people have great spaces which could generate rental yields which people never look upon cause they’re not being marketed correctly.

This is where a commercial property agent such as Shepherd Commercial would come into play. We’ve let the most properties in 2023 within the West Midlands and for one single reason – we know how to market vacant space.

Marketing

Marketing the property of course entails utilising online portals such as Rightmove and Zoopla, but there is so much more to finding the perfect tenant. Marketing needs to be timed. aesthetic and focus on helping prospective tenants envision working and occupying the vacant space.

A campaign which adapts and shifts throughout its course is crucial, but there is only so much marketing can do for vacant space unless it is staged and equipped with the correct features and specification.

This is where commercial property advice and consulting comes in.

Recommendations

Before marketing, a quality commercial letting agent would offer the correct recommendations to prepare your vacant property to be showcased around its region.

Recommendations can be small or huge and helping the client identify where the positives and negatives of their vacant unit are sitting, is the difference between a 18 month letting and a 1 month letting process.

Ranging from a general tidy and clean-up or installing a few new light fittings, to major refurbishment and development of brownfield sites, to let that vacant space, you need to become competent with the market.

Target Audience

Agents like ourselves at Shepherd, have an extensive mailing list of clients with strict requirements on features such as size, location, specification and access. We help configure your property to match these requirements.

Promoting an opportunity to the wrong audience is wasted time, money and effort. To let a vacant unit, you need to push your property in front of the eyes of people and businesses which are actively seeking the requirements.

We have over 3,000 clients within Birmingham and Solihull who are actively seeking spaces. Combining this with our marketing strategy, we’ve mitigated letting times to just 35 days on average for spaces under 2,500sqft.

Summary

We recommend calling us on 01564 778890 to discuss your vacant space and see how we can help you.

To summarise, letting vacant space can be daunting but with the assistance of a cost-efficient and renowned commercial letting agent, the process can be faster, smoother and yield better results than going alone.

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