Disability Access Proving Crucial in Commercial Buildings

Disability Access Proving Crucial in Commercial Buildings

Providing disability access in multi-level commercial buildings by including elevator access has become crucial in securing sales and leasing transactions, says Ray White Commercial Bayside Director Nathan Moore.

Nathan Moore said buildings not upgraded to include elevator access to their first floors and beyond are fast becoming abandoned as the general population ages and both employees and customers are becoming unwilling to climb stairs as they once were.

“The flow on from this is reflected in high vacancy rates and declining rentals and capital values despite the level of accommodation remaining at a high standard,” he said.

Nathan Moore said banks, government departments and government contracted agencies adopted a total disability access requirement more than 10 years ago.

“Many of those A grade spaces on upper floors were then occupied by local accountants, law firms, insurance agencies and financial planners,” he said.

Nathan Moore said all owners should consider the addition of an elevator into the common space.

He said owners of ground floor strip retail space are also benefiting from this trend as these traditional first floor office users gravitate towards the ground floor, not for signage or retail benefit, but to provide better accessibility to ageing clients.

“It’s an interesting trend and one we see no sign of slowing down,” he said.

“The warning to owners of multi-level office space is a clear one; plan for the future and install a lift.

“The capital cost of doing so will ultimately ensure occupancy and protect value.”

Up to Date

Latest News

  • Four Essential Steps for Proactive Portfolio Management

    As we find ourselves in the midst of the financial year and the beginning of a new calendar year, diligent commercial investors recognise the significance of proactive portfolio management. It’s an opportune time to assess the health of your assets, identify areas for improvement, and prepare for a successful and … Read more

    Read Full Post

  • The Rise and Rise of the Alternatives, but What’s Next?

    Industrial has been the golden child of the last few years, accounting for the lion’s share of total commercial volumes. During this time we have seen some asset types’ interest dwindle, while others have surged in popularity. Commercial investment levels are significantly down this year compared to our busy last … Read more

    Read Full Post