10 Steps to Finding Office Space
Finding New Office Space
Finding a new home for your business involves careful thought and planning. A new office is so much more than a simple Change of Address. It reflects your company values, culture and personality. You will need a clear understanding of your requirements, and your Property Agent will need to be briefed.
Following these 10 steps to Finding Office Space will help you find, choose and plan a cost effective and efficient office space that is best matched to your business and office space requirements.
1. Determine how much office space you need
Use the Office Space Calculator to work out your office size requirements. You'll need to consider number of meeting rooms, headcount and number of individual offices.
2. Establish your Office Space Budget
How much rent can you realistically afford? What about business rates and service charges? Work out your budget limitations using the Moving Office Budget Template.
3. Decide where you want your new office to be located
Location is a crucial factor when choosing office space. Consider where your clients and staff are located, do you need to be close to public transport? Do you want to be near or away from competitors?
4. Brief your Commercial Property Agent
Your Commercial Property Agent will need to know all this basic information as well as having a good understanding of your business so that they can draw up a shortlist of suitable office properties for you to view.
5. Viewing Properties
Use the Office Space Checklist when viewing potential properties. It will help you to establish which properties match your requirements the best so you end up in the right office space.
6. Analyse your Commitment
How long do you need the office space for? The average office lease is between 5-10 years but you can ask for a break clause within your lease to give you the option of vacating the premises before then. Seek advice before signing anything!
7. Do your Homework
Before you commit yourself, you want to be sure you are getting the best deal, so ask your Property Agent for a list of office rents and deals that have recently been completed / achieved in your area. That way, you'll be able to compare and weigh up your options.
8. Consider Office Layout & Design
Take an Office Fit-Out Company with you on your top 3 shortlist properties. This will give you invaluable insight as to how the space can be designed and planned and the approximate cost of the fit-out project.
9. Office Lease Incentives
What incentives is the landlord offering? Which property comes out more favourable for your business needs? Is the landlord flexible?
10. Get Legal Advice
Once you've chosen the most suitable office property, it's time to handover the lease to a Property Solicitor who will examine the detail of each clause and ensure your commercial interests are protected.
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