How to Market Commercial Property
The commercial property sector in London has been a thriving industry for several years. London's reputation as a major shopping centre attracts entrepreneurs and business owners from all over the world, who hope to capitalise on the city's high footfall. While higher demand is a positive factor for commercial property owners, it may still prove difficult for them to market their property so that it stands out from the hundreds of other properties available throughout the city.
If you own or manage a commercial property in the British capital and want to learn how to market it more effectively, StillAd.com will provide you with important information about the industry and with tips to help you make your property advert stand out above all the others.
Key facts about the commercial property sector in London
Before you can start marketing your commercial space in London, it is very important to understand how the industry is performing. Doing so can help you gain valuable insights into the sector, your competitors, and the preferences of potential buyers.
According to a recent market report published by consultancy firm Deloitte, there is still a sentiment of uncertainty among most companies, which still seem to be in a defensive mode given that the GDP growth levels have been minimal so far. However, the same report affirms that the market will start to head towards recovery at the end of 2013. Market analysts also predict that the retail sector is set to experience moderate growth over the next 4 years, and demand for this type of commercial property will rise accordingly. Another report by Jones Lang Lasalle confirms the growth forecasts for the retail property market. According to the report, in 2013 London was listed as one of the top five European retail cities.
Researchers at Jones Lang Lasalle also investigated the latest trends in the office property market. They concluded that during the past two quarters, office transactions increased substantially (particularly in the City and Central London) despite the rising rents.
With these data in mind, it is obvious that commercial property owners need to capitalise on their assets and make them more appealing to clients, who may still feel reluctant to engage in property transactions. You can find tips on how to do this effectively in the following section.
Top tips for advertising commercial property in London effectively
Research all the advertising channels available
Because of its size and unique makeup, advertising in the London commercial property market may seem daunting at first. One useful tip involves not limiting your marketing efforts to one channel, but trying to make the most of all the options available instead. For example, you could place adverts in local newspapers, such as The Evening Standard or Loot, with the added advantage that they will also be seen by prospective buyers who read the online edition of these newspapers.
Do not underestimate the power and the reach of the Internet. In London, there are specialised resources that you can use to advertise your commercial property. Some examples include websites like This Is London, Gumtree, Hallo London, Rightmove, or The London Office Guide. The Rightmove website alone is searched by more than 2.5 million users per month, and staff have experience in designing specific commercial property adverts that can increase the exposure of your ad.
One important thing to remember before you place a commercial property advert online is how search engines work. Your advert has more chances of appearing at the top of the search results if it reads seamlessly, includes adequate keywords, and has fresh and accurate content.
Designing a visually appealing advert
In the case of large commercial properties, it is worth considering to invest in putting together a brochure that can catch the attention of potential tenants. You may want to hire the services of a specialised agency that can offer things like aerial photomontage, 3D floor plans, branding, and realistic brochure design.
Whether you advertise online or using printed media (and ideally you will want to do both), it is important to ensure that your advert features professional photographs. Many commercial landlords choose to cut costs by taking the photographs themselves, but cutting corners is not a good strategy in this respect. Property pictures taken by professional photographers look smart and attract a higher number of enquiries.
Finding the right balance
Whereas you will want to highlight the best selling elements of your property, it is important to find the right balance between being 'creative' and making false statements. Always be honest and include all the information that you would like to get from an advert if you were a tenant. This will help you attract serious enquiries and tenants with firm intentions.