Marketing Plan For A Commercial And Industrial Property

Property Description

The ensuing description and analysis present a marketing plan for a commercial and industrial property. The description is informed by the property appraisal, the listing agreement and an analysis of the target market. The current report also details the marketing resources, the roles and responsibilities of different actors in the marketing plan, the underlying activities and performance indicators. Further, it also details the opportunities for enhancing the current market plan and evaluates the efficacy of the marketing activities presented herein. The discussion is based on a Simulated Workplace Scenario.

Property Appraisal

The property is located at 45 Romawi Road, which is in an excellent location near a major highway that leads to the business district. It consists of five levels, each one with five self-contained flats. There are also three commercial retail units on the premises. The condition of the property is acceptable and satisfactory. The property has a total floor size of approximately 2200 square feet. The property has a “freehold” tenure. The property is notably totally occupied by tenants. It has a market value of $1.9 million considering occupancy and lease agreements. It also has a market worth of $2.5 when complete possession of the vacant property is taken into account. The property is worth $300,000 per year in rental income. In addition, the property’s insurance costs are $12500. The property’s advantages include its proximity to a major by-pass leading to the city center, which makes it a suitable retail site. The property has no significant flaws that would jeopardize its status as a commercial retail and rental property. Environmental rules are putting the property in jeopardy. Political difficulties have put the property in jeopardy. It is specifically positioned in an area that has been known to be targeted by protestors of various movements. The biggest source of concern is the property’s management, which is quite complicated.

The property listing agreements of the latter property indicate the express permission of the owner allowing the real estate agent to facilitate the transactions pertaining to the property. Specifically, the commercial property has been listed for lease, thus, the goal of the real estate agent is to identify a prospective client willing to lease the property based on standard lease agreements.

The target market of the commercial property comprises of the following:

• Real Estate Holding Company
• Trusts holding wealth for individuals
• Individuals interested in the real estate industry

Property Appraisal

The property is located at 62 Springhill Bottom Road, an industrial destination near the railway station. It has well connected road network. The property It comprises of 2 floors with industrial warehouse facilities and five office spaces. It also has 150 parking spaces. The property is in an acceptable and satisfactory condition. Markedly, the property has a total floor area of 23500 square feet. The tenure of the property is “freehold”. Notably, the property is currently on lease to a small textile company. It has a market worth of $1.9 million when tenancy and leasing agreements are taken into account. It also has a market worth of $4 million when complete possession of the vacant property is taken into account. The property is worth $700,000 per year in rental income. In addition, the property will cost $300,000 to insure. The property’s merits are its proximity to a major industrial center and its train connection, making it an ideal industrial location. he main source of concern is the regulatory environment in which the industrial property operates, which may have an impact on the property’s future development.

Property Listing Agreement

The property listing agreements of the latter properties indicate the express permission of the owner allowing the real estate agent to facilitate the transactions pertaining to the property. Specifically, the residential property has been listed for sale by auction.

Target Market

The target market of the commercial property comprises of the following:

• Real Estate Holding Company
• Trusts holding wealth for individuals
• Companies in the manufacturing sector
• Companies with a significant production requirement
• Firms requiring a combination of office and warehouse facilities

The current section presents the marketing plan for each of the properties. It was done through excel and attached in the ongoing report. The marketing plan covers the following dimensions of each of the properties-the target stakeholders, communication of objectives, comparison with competing properties and offers, the uniqueness of the property, the budget, dissemination of the marketing plan, the timeline and other crucial metrics.

Table 1. Marketing Plan for the Commercial Property; (source: Author)

Table 2. Marketing Plan for the Industrial Property;(Source; Author)

The ensuing section presents the marketing resources pertaining to the commercial and industrial properties. The resources are detailed in table 1 and 2 alongside the purpose of the funds.

The table below shows parties concerned in the marketing of the properties alongside their roles and briefing status at the time of writing this report.

The following section details the marketing activities pertaining to the commercial and industrial properties. The activities are presented in table 1 and 2 alongside their performance indicators

The current marketing plan can be improved by adopting the following strategies:

• Adding the value of the properties
• Increasing the marketing budget
• Adopting a marketing framework designed for the sale of property
• Consulting specialist advisers on real estate marketing

The marketing activities of the current simulated working environment are effective considering the marketing plan and the budget of the entire process. This is evident from a cost benefit and comparison scrutiny of the marketing of similar properties.

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