Thousands of students come to Cambridge to study and thousands more tourists come to visit to see the sights. As an owner of a commercial property Cambridge, you have the best opportunity to make a lot of profit if you ever decide to put up a business.
With the abundance of tourists and students year round, a lot of commercial establishments have been put up around Cambridge. If you happen to own one of them then you are considered very lucky. The areas near the university and around tourist spots are considered the most profitable as these are high traffic areas. The customers that abound in these areas are willing to shell out money for food, trinkets, souvenirs and special items to take home with them so your commercial property should cater to these types of businesses. Businesses that cater to the students needs are also very lucrative. Use your commercial space to put up a bookshop, a supplies store or a restaurant to attract the students.
Another great way to use your commercial space is to turn it into a bed and breakfast or a small hotel. Since Cambridge is a huge tourist destination, tourists are always on the lookout for places to stay in while they are vacationing. Small hotels and bed and breakfasts are very in demand because they are less expensive than 5 star hotels. People also find a small bed and breakfast to be quaint and matching of the kind of atmosphere that Cambridge exudes.
You can also try renting out your commercial space to people looking to put up their offices in Cambridge. A lot of business owners know the value of a great address so your commercial property in Cambridge wont be vacant for long. A travel agency is a great kind of business to lease your commercial space to.
You may also do what most business owners do in Cambridge which is to turn your commercial space into a student lodging. Students in Cambridge may have lodging inside the university but those who dont want to be bothered by things like curfew and the like opt to look for lodging outside the university. Thats where your commercial property comes in. Whats so great about this kind of business is that you can rent out your property when the student is on a long vacation provided this is stipulated in your agreement.
These are just some of the businesses that you can put up using your property. If you are not the kind to put up your own business then you can try finding people with these kinds of businesses who want to rent or lease your property. These kinds of businesses are very lucrative and appropriate for Cambridge so you would be sure that the people renting your commercial space would be able to pay for rent. There are still so many things you can do with your commercial property in Cambridge so be sure to explore all the possibilities.