Retail Space In Educational Institutions And Hospitals
The demand for, and value of, retail space in Pakistan will increase by 10 to 25% every year. though typical venues for retail space, like malls and business areas stay the primary selection for investors, space in hospitals and academic institutions (including schools, colleges and universities) is gaining traction in Pakistan.
Factor in the following if you’re pondering renting retail space in a school, college, university or hospital:
1. Educational institutions and hospitals offer a restricted range of retail outlet, that sometimes vary between 5 and 10. they’re sometimes not on the market for purchase and might only be rented.
2. Rental rates are 10 to 12-tone music lower compared to malls and business areas; they increase by 10 to 15 every year.
3. Rental agreements sometimes last for 3 years, once that they will be renewed; a six-month advance and a year’s deposit (equivalent to a year’s rent) are needed once the agreement is signed. around the clock security, utilities like water, gas and electricity, and maintenance, are sometimes covered within the rental agreement.
4. Retail space sizes vary between 50 and 80 sq. feet.
5. Average monthly rental rates range between Rs 80 and 280 per sq ft.
6. Businesses that work well at hospitals and academic establishments include pharmacies, eateries, general stores and bookshops; flower and gift retailers had best in hospitals.
7. Most educational institutions and hospitals only enable one form of business to perform at an equivalent time; as an example, if a shop is working within the building, the presence of another one are going to be discouraged.