Vacant Shops…what you should know

DID YOU KNOW

Vacancy signs on a high street do not always indicate a struggling shopping strip or economy.

Some of the buildings may have been bought by owners 20,30,40 years ago and many of these owners have no desire to spend money maintaining the building or to make it appealing for business owners to lease.

Think of your own neighbourhood example.

Mine is Sydney Rd, Brunswick. Most of these buildings have been under the same ownership for years. Some owners not spending a cent on upkeep.

Potential business owners (tenants) will think long and hard going into a building that needs an injection of hundreds of thousands just to get it updated which ultimately only adds value to the landlord’s capital asset.

The point is - look a little deeper when there’s a shopping strip and many vacancies - there could also be many opportunities.

Due Diligence Required.