The number one thing to remember about commercial construction is that everything has an impact on the bottom line. Every decision, from initial planning to completion, is about maximising return on investment (ROI).
If you’re about to embark on your own commercial construction project, this is most likely something you’re thinking about. Whether you’re carrying out multi-level hotel renovations, working on a warehouse development, or adding seismic strengthening to your existing properties, there are several things you can incorporate into your strategy to maximise ROI.
At Stehr Brothers, we have many years of experience executing large projects from beginning to end. To help you make the most of your next steps, this blog post is dedicated to some key strategies that will help you maximise ROI in commercial construction.
A significant consideration for every commercial construction project is the types of materials used to complete the project. Some project managers or architects resist investing in premium materials because they usually have a higher upfront cost. However, this can be short-term thinking that won’t pay off. Despite their higher upfront cost, premium materials pay off in the long run by reducing the number of repairs required over time, as well as improving the value of the building overall. Even energy efficiency can weigh in here, as more durable roofing materials or higher-quality insulation can contribute to lower operational costs over time.
As sustainability grows in importance across a variety of different sectors, energy-efficient commercial construction projects are increasingly in demand. During construction, there are opportunities to implement eco-friendly design elements. Think energy-efficient windows, solar panels, and building-wide LED lighting, all of which can massively reduce utility expenses.
For commercial architects or developers looking to sell a building, these energy-efficient choices can even increase the property’s appeal. This can contribute to improving ROI, even despite the slightly higher upfront investment. If you want to retain your new build as a commercial rental property, the appeal of energy-efficient features can attract a higher standard of tenants who will be willing to commit to longer terms.
One of the most important factors that contribute to maximising a return on your investment is delivering a project on time and on budget. That comes down to having proper project management to keep things on track.
You must know that the team you choose will be properly directed and that they have the manpower that will be required to tackle every stage of your project. Choosing a contractor that operates at a high level across project management is a no-brainer. If they also operate as a one-stop shop with the capability to clear the site, lay drainage and even take care of finishing touches like fencing and landscaping will ensure that everything is happening under the watchful eye of someone who has your back.
Well-organised project managers do many things to improve your bottom line. They mitigate risk, ensure timelines are met, and efficiently coordinate between stakeholders like contractors, suppliers, and architects to streamline operations. As with any major project, effective communication can make or break the results, so connecting with a construction team that includes expert project management as part of their service will help to remove stress and add value.
When it comes to commercial construction projects, it’s particularly important to future-proof the building. This can look like constructing flexible spaces that can easily be shaped to meet a variety of different applications or fluctuating needs.
Future-proofing is also about asking questions about technologies such as lighting, heating, and security. In what ways can you add value to your commercial construction project by considering the needs of future buyers or tenants? What is the current purpose of the building now, and how might you equip it to evolve for future requirements?
If you plan to hold onto the building for a while, perhaps as rental space for commercial clients, incorporating estimates for ongoing repairs and maintenance costs can help you to properly balance ROI.
Finally, there is so much to be said for choosing the right contractors and partners to take your commercial construction project from concept to reality. Look for an experienced team practised at delivering on promises.
When you’re evaluating which commercial construction contractors to choose from, focus on feedback from similar clients, familiarity with commercial projects, and a commitment to delivering quality results. Most importantly, look for a team with built-in project management capabilities, as this will keep the entire build on the rails.
In summary, with a high ROI as the goal, there are many strategies you can implement to achieve it. From high-quality materials to choosing the right contractors and partners, you’ll never regret investing in something excellent upfront to guarantee a better result down the line.
At Stehr Brothers, we’ve spent many years partnering with architects, commercial property owners, and business owners to produce stunning projects with excellent returns on investment. Alongside our professional building skills, we have built a strong network across the region, so we can be certain to get your project across the line on time and budget.
If you want to experience a seamless build undertaken by industry experts, we are the team to call. Get in touch with us to access our vast knowledge of commercial construction services.
POSTAL ADDRESS
PO Box 39038
Howick
Auckland 2145
New Zealand
PHYSICAL ADDRESS
149 Kimptons Road
Brookby, Auckland
