Everything there is to know about mixed-use development
If you're looking to invest in commercial development but need to know how to get started, this may be the perfect place to find all your answers. Whether commercial, residential or mixed-used, investing in space entails a number of questions and doubts about the profitability of the proposition. In this article, we will talk about mixed-use development and how it is proving to be a game changer.
Understanding mixed-use development
As the name goes, a mixed-use development combines residential and non-residential aspects in the same establishment. This type of real estate project is particularly beneficial for those who want to reap the combined benefits of both types of properties in one go.
Such a project can be limited to a single building or can even be spread out in an entire neighbourhood. It is established keeping in mind the environment surrounding it and how well it can cater to it. If done the right way, an investor can leverage the best of commercial, residential, and industrial offerings.
Types of mixed-use developments
If you know what shall go in the concoction of mixed-use space, you get a plethora of combinations that can be achieved. The most common ones out of those are retail and office spaces, residential and offices, and mixed-use hotels. As per their target audience, they are strategically situated. For example, a mixed-use hotel is usually located near the airport or other transportation stations and near popular city attractions. An office cum retail space is situated near a growing IT hub where residential projects are rising. There are several other kinds of projects, but these are the most common ones.
Apart from the type of function a mixed-use development serves, the manner of its establishment also varies. Usually, the first few floors are dedicated to one kind of development, and the rest are devoted to the other type. A typical example is retail cum office development, where lower floors are dedicated to the former while the office is on the upper floors. This type of segregation is called vertical development. On the other hand, properties that include a single-use building in the establishment are called vertical developments. Both kinds of establishments have their advantages, and it is up to the investor to understand their needs and analyse which proposition is better for them.
What's in it for investors?
The current breadwinners want the best of both worlds. They need gyms and cafeterias a stone's throw from their workplace. They also want to live in luxury homes close to their favourite shopping and dining destinations. They want more from one development. A holistic environment that can fulfil their needs is an investment goldmine, and as an investor, mixed-use development should be your top investment priority.
The potential of mixed-use development is undeniably huge. Here are a few more reasons why investing in such a property will be worth the while.
- Greater exposure: One of the most beneficial aspects of a mixed-use development is the clientele that comes to the space. Such a space witnesses an influx of a variety of customers. It also ensures a high footfall compared to stand-alone single-use buildings since they are established near budding and established residential projects. This helps you to expose your business to the elite audience of India.
- Hassle-free property management: when you invest in a mixed-use development, you get the organic benefit of property management. Such spaces usually have an in-house management system and faculty to take care of the community's needs.
- Pre-existing amenities: Any mixed-use development is situated in prime locations such as near popular schools, libraries, parks, public transport centres, etc. In addition, they are primarily located near an impressive catchment area, ensuring a superior quality of life. Once you invest, you are bound to experience an exceptional standard of living.
- Better returns with less risk: Investing in a mixed-use space means you get the benefit of exposing your business to a diverse audience since the development brings in people for multiple purposes. This way, investors can rely on something other than a specific crowd for revenue generation. If a particular development aspect performs as per standards, you will stay in business as an investor. Further, mixed-use development ensures higher cash flow, longer leases, and minimum risk.
- Accessibility to amenities: it is always good to have all the necessary amenities within walking distance. These days, people don't want to take time out of their busy schedules to meet their daily needs. From shopping and leisure to bank hopping, they need a community to provide those amenities. A mixed-use community comes with these amenities, so the clientele gets everything readily available, ensuring a good influx of people.
Trehan Iris Greno West: A Game Changer In Mixed-Use Development
Located in the heart of Greater Noida West, Trehan Iris Greno West is synonymous with a luxurious lifestyle. This mixed-use development combines the best of retail, office, and hotel spaces to provide a holistic experience to current and future breadwinners. It is spread across one million sq. ft. The retail sector is set to harbour top-tier shopping, food, and lifestyle brands.
Geno West will contain a 30-floor high office tower called Omega. It will have a dedicated business centre, lounge, gym, and cafeteria. Working professionals also get large conference rooms for all their meeting requirements. Greno West's dedicated tower for hotel rooms will ensure a lavish and indulgent crowd is interested in the property.
Its superior location advantage is the cherry on top. Greater Noida West is expected to have 5 lakh apartments in the next 3-4 years, with approximately 12 lakh residents. Greno West will be one of the few establishments in the area that can meet these residents' requirements. The extension of the Aqua Metro Line is bound to bring relief to lakhs of commuters residing in Greno West and increase the footfall on the property. The proposed Delhi-Noida-Varanasi bullet train is intended to be up and running by 2030. This will bring in visitors from various parts other than just Noida. Finally, the Jewar Airport, India's largest airport, will allow local and global businesses to flourish in the area, again ensuring an impressive influx of tourists and people in business in the establishment.
Thus, investing in Trehan Iris Greno West will only ensure excellent returns. When you invest here, you can rest assured that you have put your money in the right place.