Top Tips for Locating the Perfect Business Premises

Weird Science

In these unsettled economic times, few companies have the resources or the inclination to commit to a long-term investment in business premises. Renting retail or office space is a much more viable option. Not only do you have more flexibility should circumstances change and you need to move quickly, but many are also purpose-built to suit your exact requirements. Leasing serviced properties can provide you with high-specification suites that are maintained to the highest of standards with the minimum of stress. So how do you find the right site?

Location, Location This is one of the most vital aspects to consider when choosing commercial premises. The ideal location varies according to your type of business. Small retailers and offices will benefit from a high-street location where there is lots of foot traffic, or from taking a unit in a shopping centre with a readymade customer base. Larger retailers or businesses, especially those in the DIY or fashion sectors, may find their needs best met by premises on a large industrial park. Before committing to a location, ensure that there is ample space, adequate parking and decent transport links for your employees. 

Define Your Requirements Before looking at any potential premises, have a clear idea of what your requirements are. How much office space do you need? Is there enough storage? Are there sufficient toilets, as well as a kitchen and break areas for staff? Is the space safe and fit for its intended purpose? Although issues such as building maintenance may be covered under the terms of your lease, government advice states that you are usually responsible for maintaining adequate gas and electrical safety standards, as well as carrying out the appropriate risk assessments. Renting a space with good ventilation and lots of windows will create a more pleasant working environment. Always try to rent the largest space that you can afford. Not only will this push you to grow your business to fill it, but it will also ensure you do not have to move if your company expands rapidly. 

Compare and Contrast Visit several premises to get an idea of what’s on offer in terms of business space in Oxford. Look at different types of building – something you may have discounted as unsuitable may in fact turn out to be the perfect property. Even if you think you have found the ideal place on your first site visit, don’t get carried away. Compare it with other available spaces and don’t rush into a decision. 

Don’t Be Afraid to Negotiate If you are in a strong position, such as not needing to give notice on another space, can move in straight away and are able to put down a deposit immediately, this gives you leverage when it comes to negotiating terms. If you are unsure about the length of the lease, remember that landlords would rather rent the property out short-term than have it standing empty. However, bear in mind that taking a long lease can help you secure a lower rent, often at a fixed rate. 

Follow these simple tips and you will find locating the perfect premises a straightforward and satisfying experience.

Source: https://www.gov.uk/renting-business-property-tenant-responsibilities

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