Insights for repurposing property
The Repositioning Veterinary Real Estate series has unlocked a wealth of knowledge for Veterinary Practice Owners to consider when embarking on a repurposing project. Over the past four months, we have shared the top tips from real estate expert, and Terravet President, Dan Feinberg. From legalities to practicalities, we’ve got it covered in this series. Join us for a full recap and key takeaways.
Optimize your repurposing strategy
1. Critical considerations for your repositioning plans
At the start of your journey, there are a range of considerations that will impact the success of the completed project. Take steps to construct a practice that is fit for purpose and in peak condition for the years of success to come. The top considerations include location, size and suitability, and market demand. Dan details these considerations and more to help you kick off the planning process. Watch here.
2. Increase practice desirability for prospective tenants
As well as location, there are a range of tips to implement into your strategy to increase desirability and attract new tenants. A vital component highlighted by Dan is parking.
In addition to this, an effective method to get the most from your property is to put yourself in the shoes of your ideal tenant. What would you expect from your ideal property to boost your business success? Your ideal expectations are an excellent place to start your planning. Discover more insights here.
3. Legal and zoning implications of repositioning property
There are a range of actions that cannot be taken without considering the legal implications. Structural changes are an essential factor that is often necessary in a repositioning project for an alternate practice. In these cases, you will need to dig deeper to understand what actions must be taken to ensure all plans are above board. Uncover the other legal implications to consider.
4. When should you bring in the experts?
When you are ready to take action with your repositioning real estate plan, you’ll need to know how and when to hire consultants. It is essential to the success of your plan to bring in the right people at the right time. Hiring professionals can be the making of your repositioning plans; don’t miss an opportunity that could save you time and money in the long run. Find out what else Dan had to say.
Kick off your repositioning plans today with guidance from the experts
Now that you understand the importance of these key tips, let’s start implementing them into your repositioning strategy. You will soon be ready to welcome new tenants who can grow and thrive in your refreshed healthcare clinic.
If you are looking for more advice from Dan and the rest of the real estate experts on our team, get in touch. We look forward to helping you to reach your veterinary practice goals.