How to choose a commercial property that’s right for your business

How to choose a commercial property that’s right for your business

15th Feb, 2017

Choosing the right business premises is an important decision, and one that needs some consideration. There are a number of things to think about before buying or renting a property, such as location, costs and local amenities. So, it’s not something you can rush into. That’s why we’ve put together this short guide, which is designed to help you in the hunt for your perfect premises.

  • Area

The location of your new property is one of the most important factors to consider. So, below are a couple of things you must take into account when viewing a potential new office, showroom or shop:

           1. Competitors

Is the property you are looking at near to potential competitors? This could have both advantages and disadvantages for your business. For example, a benefit could include when a particular area is highly thought of for a particular product or service, you can align your business with those values, by relocating there. Think Huddersfield for textiles, Manchester for tech and Leeds for its boutique shops.

But, a downside to being close to similar companies, is that you may compete for business. For example, if you’re moving close to a well-established competitor in that area, some people may already trust and rely on them to provide the good or service you offer.

       2. Amenities

Do you and your employees often buy your lunch from local eateries? If so, it is important that you look at the surrounding area. Accessible shops and cafes could be the difference between attracting new employees and them working for a competitor.  For example, a city or town scene may be the perfect place if you want quick access to lunch spots, which often offer much more choice than a small village.

But, rural areas can  be perfect for those who prefer more peaceful and quiet surroundings. There is less hustle and bustle in the countryside, and this may be the exact thing that you are after if a central location is less important. Shops and eateries may be further away in this case, so it is something that needs to be thought about carefully.

        3. Access

If clients frequently visit your premises, it’s essential that they can easily find you and within a reasonable amount of time - especially on their initial visit. First impressions count, after all!  For example, if you have customers from the length and breadth of the country, then being next to a motorway could be advantageous. Or if your customers are concentrated within a certain area, then you should consider finding a property that's central - in a town centre, for instance.

  • Capacity

Not only is the area of your new property important, but the premises itself is too.

You may need your new building to have additional areas, other than just desk space, so you should look in detail at the room available, to ensure you can fulfil your requirements. As well as meeting rooms and breakout areas, or fitting rooms and dedicated show area, it is essential that your current employees fit comfortably into the new space.

Are you also expecting your team to grow in the near future? If so, it is important that this is also taken into consideration. Moving a whole office can be a big, stressful task - you don’t want to have to do it soon after you’ve just settled into your new workplace, simply because it has become too small. Factoring in all these things will ensure that you make the most out of your new property!

  • Type of building

The type of building you decide to go for can create a certain atmosphere, and will reflect your business' values and personality. For example,  converted mills have lots of character, which could mirror a company that is creative and fun. A brand new building might suggest that your company is very professional and established. Or, it may be that you want a place that promotes effective work for your employees, so purpose built offices may be perfect for you.

But, no matter which type of building you choose, you should breathe a new lease of life into your space, by putting your own stamp on it. This will help to promote a happy working environment and is likely to create a 'wow' factor for visitors.

  • Price

It is crucial that you purchase or rent the right place for your business to succeed, but it is also important that you can afford it. So, we have devised a short checklist of things to consider which will help you to decide whether you can afford it:

  • Initial purchase costs, including legal costs such as solicitor's fees and professional fees for surveyors
  • Initial alterations, fit out and decoration
  • Any alterations required to meet building, health and safety and fire regulations
  • Ongoing rent, service and utility charges, including water, electricity and gas
  • Business rates
  • Continuing maintenance and repair costsBuilding and contents insurance.

This will help you to cover all bases, and ensure that you don’t get any nasty surprises with buying or renting a new commercial property. 

So, if you’ve taken into consideration all of the above, and have simply fallen in love with new workplace, then you are ready to start the next chapter in your business!

If you’re still on the hunt for a commercial property in Holmfirth or Huddersfield – take a look at what we have available here.

View all posts by Amy Wray

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