Finding a new home for what you are promoting might be an difficult project that involves careful thought and planning. A new office is so much more than a easy change of address, the property you choose will ultimately reflect your company values, tradition and brand personality. It’s subsequently vital to have a transparent understanding of your requirements before setting out in search for new office space.
1. Set up your Budget
How a lot rent can you realistically afford and can this figure be maintained all through the time period of the lease? Do not forget to factor in business rates and repair fees into your office space budget.
2. Decide how a lot area you want
Working out how much area you are going to want in the new office is a good starting point. Do a headdepend and consider the number of meeting rooms, private offices and different facilities equivalent to kitchen etc.
3. Which location?
Location is an important factor when selecting office space. Consider which location could be most handy and attractive to each workers and clients. The placement of your office can make or break what you are promoting, and will also have a significant impact on your rental costs – so choose carefully.
4. Transient your Commercial Property Agent
The subsequent step is to source and transient a neighborhood commercial property agent. They’ll want a clear understanding of your office space requirements; what facilities you need, type and size of office lease required as well because the limitations of your budget and timeframe. This data will provide a framework for them to assess the market and are available up with a shortlist of suitable office properties so that you can view.
5. Viewing Properties
Viewing potential office properties could be a time-consuming process. Go to each office property with an open and clear mind and have the Office House Checklist at hand that can assist you prioritise what considerations are most important for what you are promoting to carry out effectively. Remember that first impressions rely and final!
6. Analyse your Commitment
How long do you want the office area for? A mean office lease is between 5-10 years, however shorter offices are trending giving companies more flexibility. Attempt to negotiate the inclusion of a break clause within the lease to give you the option of vacating the premises at some stage earlier than the lease expires.
7. Do your Homework
Before agreeing to take the area, you want to be certain you are getting the very best deal possible, so ask your Property Agent for a list of common office rents and offers which have recently been completed / achieved in that specific area. That way, you’ll be able to compare and weigh up your options and have assurance you are securing the best possible deal.
8. Consider Office Format & Design
The layout and configuration of the house is an important factor. Are you looking for an open plan office or cellular? If you are considering knocking down partitions or erecting halfitions that you must know whether or not this is a viable option and permissible with the Landlord.
9. Office Lease Incentives
The small print of the office lease are an necessary incentive when it comes to renting office space. Your Property Agent will probably negotiate a number of properties in your quicklist to see which one comes out more favourable. Be affected person at this stage, as a number of copies of an office lease will should be exchanged earlier than a deal can lastly be closed.
10. Get Legal Advice
When you’re joyful that you’ve chosen the appropriate office property, it’s time to handover the lease to a Property Solicitor who will examine the element of every clause, make sure that everything has been clearly documented and that your commercial interests are protected.
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