When it comes to leasing out your commercial property to potential tenants, it's sometimes difficult filling in a time gap between leases. Sometimes a tenant doesn't want a full-term lease and this means that, for a period of time, your property may be vacant.
As commercial property agents in London, and with over 30 years of experience behind us, we know that the last thing you want is to have an empty store in a high foot traffic part of town. To help you, we've got a nifty little plan to help fill in those couple of months between your long term leases: pop up stores.
Everything from clothes stores to cafes have popped up across the country in the past couple of years. They've created a wave of excitement amongst the general public. Every consumer loves a change, having a unique store pop up in their area for a couple of weeks (or a couple of months) before vanishing again is seen as an enigma and is treasured for the short time it's spent in the general area. There are a couple of key facts you should know, however, before you rent your commercial property out to a pop up store.
High Foot Traffic Area
Although this will be a factor anybody wanting to set up their pop up shop will be looking into, if you advertise your commercial property be sure to understand your own location. A pop up store is only around for a short amount of time, the more foot traffic passing by the shop front, the more likely customers will walk into the store. If your commercial property is in the centre of a high foot traffic area, or very close by, it could be the perfect candidate for these short term shops.
When looking to rent out your property, it's a good idea to make sure the tenants you're taking on will be able to sell their products. Having a gothic pop up store in the centre of an upper market part of town where the majority of stores hold designer clothes and expensive watches probably won't get the kind of attention to grant a sufficient income.
Making sure your property is turnkey ready is vital when trying to attract a popup store. The last thing they want it to waste their valuable time waiting for light fittings to be installed or flooring to be laid. Again, time is of the essence for these stores, they're only open for a short amount of time and they can't afford to lose days while workers set them up.
When you're looking to fill up the short term vacancy for your commercial property, there is vast potential in popup stores. Their attraction and unique concept over a wide range of retail stores and hospitality is hugely popular, and the best part is that they aren't a permanent tenant. If you would like to know more about how you could rent out your commercial property, contact us today on 0208 063 8680.